In this episode, Emma & David break down the world of self-funding in healthcare, tackling the big myths and uncovering game-changing strategies. Employers often fear self-funding is too risky, but guess what? Many are already doing it through captives without even knowing! They’ll explain the difference between fully insured and self-funded plans, clearing up the confusion.

The conversation then shifts to cutting healthcare costs. From avoiding level-funded plan overcharges to leveraging free drug programs and direct contracts, they explore smart ways to save. But it doesn't stop there—they also shine a light on systemic issues in healthcare, like the urgent need for cost transparency to prevent crushing medical bills.

It's a can't-miss episode for anyone looking to take control of their healthcare costs!

TIMESTAMPS

[02:20] How fully insured actually works

[06:45] Who is paying the claims

[09:27] What is level funding

[15:40] What Emma & David actually do at E Powered

[20:04] The common loss outcome

[22:38] Transparency in healthcare costs

[24:11] Advice for employers

QUOTES

• “The difference though is that in fully insured you have no control over where the risk comes off your shoulders. You're forced to do with whatever the carrier thinks, and oftentimes that number is a lot higher than you would do on your own because they're aggregating multiple employers, sometimes thousands of employers, into this pool.”-David Contorno
• “I think the opposite is true. I think you're taking a far bigger risk being fully insured and allowing those people that representation to manage your health plan. I think that is far riskier and you have no control over it. You can't do anything. It's sort of like people ask me about the transparency data. Isn't it great that we have price transparency? I mean sort of, but not really because we're not doing anything with it or about it. And so I just get to see how badly I'm being screwed over. I still can't do anything about it. So you're absolutely right.”- Emma Fox
• “And I think we need to stop, like, putting our blinders on and pretending like it's not happening when it's, it's. The most common outcome is loss and more loss and more loss. Which is funny. It's not just funny, it's ironic when you consider how much loss comes from buying something that's supposed to protect your risk. Like make it make sense, I guess.” -Emma Fox

SOCIAL MEDIA LINKS

David Contorno

LinkedIn: https://www.linkedin.com/in/dcontorno/

Emma Fox

LinkedIn: https://www.linkedin.com/in/emmamariefox/

WEBSITE

E-Powered Benefits: https://www.epoweredbenefits.com/

Emma Fox: https://emmamariefox.com/

Mixed & Edited by Next Day Podcast

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