Hosts Emma and David pull back the curtain on the explosive $7.75 billion deal between Marsh and McGriff, unpacking what this massive consolidation means for healthcare costs, broker incentives, and the future of the industry. Is your broker really working for you? Or are big players pulling the strings? They dive into the controversial concept of employer 'Stockholm syndrome,' debate the value of wellness programs, and break down why traditional insurance might be failing us. With broker compensation models under the microscope and a fierce comparison of Medicare Advantage vs. commercial plans, this episode hits the heart of the biggest challenges in insurance today. Don't miss out on action-packed insights and the future of independent advisors in a world dominated by giants.

TIMESTAMPS

[02:13] Concerns about consolidation in the insurance industry

[05:56] Criticism of large brokers' influence on healthcare costs

[09:21] Financial incentives and Stockholm syndrome

[16:13] Future of consolidations

[18:51] Treating patients as numbers

[24:48] Being swayed by incentives

[27:50] Motivation behind charitable acts

QUOTES

• “I think to deny the influence of financial incentives is to deny humanity. We've had it for years, not years, millennia. And we need to recognize these are the financial incentives.” David Contorno
• “Like at some point us folks who are independent, who are running family based businesses, who are giving advice as individual experts, who have paid our own way through certifications and education, and C.E. have done it all ourselves from our own pocketbooks to build these businesses from scratch. It lessens our ability to help and give incentives that are good when these big massive entities are buying each other and will, like I said this a few months ago, I've been saying this for a couple of years.”-Emma Fox
• “And I will say, listen, I'm a former carrier rep. I never knew that what I was doing was bad until I found out I did not go to work with this evil grin and this, ooh, I can't wait to see who I'm going to screw over today. That never occurred to me. I was very well trained. I was very well hypnotized by a lot of very important board meetings.”- 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

info@nextdaypodcast.com

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

info@nextdaypodcast.com

In this episode of Healthcare Hangover, Emma and David dive into a head-to-head comparison of the healthcare policies shaping the 2024 election. They break down Kamala Harris’s plan to expand the Affordable Care Act and continue Medicare price negotiations, while Donald Trump pushes for deregulation and more private Medicare options. But are either of them really addressing the root problem—runaway healthcare costs? The hosts dig into the facts, revealing the shocking truth: the U.S. healthcare system ranks last among major economies, with annual spending soaring past $4 trillion. It’s a wake-up call that the status quo isn't sustainable.
Tune in for a critical look at Trump's COVID-19 response, the future of universal healthcare, and why a hybrid system blending government-funded primary care with private insurance might be the answer. As the election looms, Emma and David challenge you to research the candidates, get informed, and make healthcare a top priority when you vote!

TIMESTAMPS:
[01:07] David’s politically neutral LinkedIn post.
[06:16] Addressing the issue if we don’t understand the issue.
[16:15] US healthcare system ranked last among 10 largest economies
[18:44] Medicare in political crosshairs
[25:55] Debate on universal healthcare

QUOTES:

• “But at least before I could live in ignorance, right? Like, now I'm I'm aware that I'm being screwed when I'm in an insurance plan.”- Emma Fox
• “But the problem that we need to solve for, I think, as the number one problem is one of psychology, because hospitals bill at this fictitious, massively inflated starting price and the carriers are then able to negotiate a large discount off of that starting price, still resulting in the highest price not just paid for healthcare in the US, but the highest price paid in the entire world or all of humanity ever. But that methodology, that process of high starting price discount and still a higher ending price than any other way of paying for care leads people to think that the carrier is providing the value, that is that discount.”- David Contorno
• “You know, I think it kind of comes back to what you and I have chosen to do for a living within the bounds of our industry, which is there's a lot of our focus that ends up being on public health, because I think that, you know, I tell people this all the time when I. When I speak or when I write, is that you really have to understand the ins and outs of the public healthcare infrastructure or the public health infrastructure in order to understand how we're financing it from.” -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

info@nextdaypodcast.com

In this eye-opening episode of Healthcare Hangover, we explore the powerful, emerging world of ketamine-assisted therapy. Inspired by the Netflix documentary How to Change Your Mind, the conversation kicks off with personal stories of overcoming anxiety and panic attacks, shedding light on the emotional breakthroughs that ketamine therapy can unlock.

Our hosts dive deep into their transformative experiences, uncovering childhood traumas and family dynamics that have redefined their adult relationships. It’s a raw and revealing discussion that brings to life the potential of this cutting-edge treatment.

We also cover the nuts and bolts: what to expect in future sessions, why combining ketamine with psychotherapy is crucial, the cost of treatment, and how to find reputable providers. Plus, we offer some practical next steps, like exploring Enthea for referrals and reviewing your health plan for possible coverage.

If you’ve been curious about ketamine therapy or are seeking new ways to manage mental health, this episode is a must-listen!

TIMESTAMPS:
[05:11] Experience of abuse and toxic resilience
[08:48] What to expect with ketamine therapy
[13:01] Detailed account of visualizations, emotions and “whooshing”
[18:44] Childhood memories and their meaning as an adult
[21:29] Expectations for future treatments
[23:42] Accessing proper ketamine assisted therapy
[26:03] Expected cost and duration

QUOTES:

• “And actually, it's. It's been interesting being a child of abuse because in some ways it's given me this. This resilience that I don't think I would have had in any other sort of upbringing. But I talked about this a couple years ago at the women's leadership summit, that sometimes having this type of resilience can be really toxic.” -Emma Fox
• “I think everybody has trauma and I know I do, although I didn't really recognize it until I was 46, 47 years old. It was pretty recently, but I'm now seeing how deep it actually has affected me in a negative way for my whole adult life, young adult and current.” -David Contorno
• “So seeing that with some level of objectivity or some removal from the situation, even though it was my situation, has been very helpful in sort of processing it, which, I guess is the point, right?” -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

info@nextdaypodcast.com

In this episode, David & Emma tackle the shocking truths about the U.S. healthcare system and how insurance, rather than providing financial relief, can often leave you paying far more than if you went without it. Our hosts dissect the myth of negotiated insurance discounts, explore real-world examples of inflated costs, and question why Americans continue to pay exorbitant premiums, deductibles, and co-pays while receiving subpar care. Featuring thought-provoking discussions on the hidden motives behind health insurance, ways to access affordable care, and how to break free from what we call "Stockholm syndrome" with traditional insurance. Tune in for insights, data-driven revelations, and actionable solutions to help you reclaim control of your healthcare decisions.

TIMESTAMPS:

[00:20] Health Insurance Misconceptions

[02:27]Health insurance perceived differently compared to other types of insurance

[04:14] - Insights from a hospital CEO about billing challenges and frustrations with payers.

[07:09] - Exploration of the complexities of premiums, deductibles, and copays.

[10:39] - Examination of U.S. health outcomes compared to other countries.

[22:00] - Direct primary care as a potential solution in healthcare.

QUOTES:

• "If you want different results, employers, employees, patients, do the opposite. Instead of following the traditional paths that have led to frustration and inefficiency in the healthcare system, consider taking a bold step back and re-evaluating how you approach healthcare and health insurance. Challenge the norms that have been ingrained in us and explore alternative methods that could lead to better outcomes for everyone involved." -David Contorno
• “And so another way to think about that is when you go and get care and you throw down your BUca based id cardinal that has a buccal logo on it, you are preordaining contractually, not subjectively, not hypothetically, but contractually preordaining you and your health plan to paying the highest price, not just in healthcare, not just in the US, but frankly, known to humans ever in the history of humankind.” -David Contorno
• "It is not impossible to build a health plan that allows an employer to pay 100% of the air quotes premium for that plan and make it so that there is no deductible and no out of pocket, and they would still save more money than signing that contract with a Buca." - 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/

In this episode, our hosts dive into the systemic issues plaguing healthcare, from doctor compensation and broker commissions to the broader dysfunction of the benefits system. They reveal how misaligned incentives lead to inefficiency, frustration, and rising costs, all while touching on key insights from the recent Health Benefits Nation conference. Topics include the controversy around GLP-1 medications, BMI policies, and the struggle employers face in adopting innovative, cost-saving strategies. Listen to hear why Emma & David have concluded we ultimately need to shift from reform to rebirth in the way healthcare is structured and managed.

TIMESTAMPS:

[01:38] Discussion on compensation

[05:01] Conference Insights

[11:09] Importance of representation & transparency

[14:49] - Employer responsibility regarding their healthcare plans.

[22:20] Awakening brokers and consultants to the realities of the healthcare system

QUOTES:

• "At the end of the day, I think the entity, the stakeholder with the most leverage is the one who's the most quiet, which is the employer, because they're not only managing the dollars they're spending, but they're essentially responsible for managing the dollars that the employees are spending, whether it's the contribution out of their paycheck or their out of pockets." -David Contorno
• "And I think you're absolutely right. Severity is not so much of an issue. Really? Right? And so one of the talking points around, specifically around GLP one, because it was a big topic. And so it was a very big point of discussion. But someone brought up the rebates. And I said on the stage, I think you mean bribes, because rebates only benefit those that they get returned to." -Emma Fox
• "And so many have said that that awakening changed their path, and that's really what we need at the employer level, at the doctor level, and at the broker level, because if we can get a large enough group to change their path, then we can actually make a difference in how the system works."- David Contorno

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/

In this eye-opening episode, David Contorno and Emma Fox dive into the harsh realities many face in accessing life-saving medications for chronic conditions. They share a heartfelt story of an 11-year-old boy desperate to help his mother, who lost access to her crucial MS medication due to an unexpected change in her health insurance plan. The discussion sheds light on the complexities of health insurance, the hidden options available, and how unaffordability can strike without warning. Emma and David provide practical advice on navigating these challenges, from leveraging manufacturer assistance programs to sourcing medications internationally. Join them as they unravel the tangled web of healthcare, offering hope and actionable strategies for those struggling with similar issues.

TIMESTAMPS:

[01:06] Story of an 11-year-old boy asking for help for his mother

[04:33] High-deductible HSA plans vs. copay PPO plans

[07:28] Manufacturer assistance programs, coverage issues, qualification requirements

[10:33]How drug coupons work and their impact on self-insured plans

[17:31] GLP-1 drugs (e.g., Trulicity, Ozempic) pricing and sourcing strategies

[24:49] Importance of consulting doctors when considering medication alternatives

[29:14] Emphasis on the responsibility of benefits consultants to impact company and employee finances

QUOTES

• "It has these horrific downstream effects, like eleven year old boys who are asking practical strangers to help his mom. You know, it really hurt my heart."- Emma Fox
• "But I wanted to explain that because coupons are, if you're in a fully insured plan, I, when I say I don't care, I do care a little, but I don't care nearly as much as when you're in a self-funded plan." - Emma Fox
• "Imagine if you were compensated for figuring out the things that we're talking about here. [...] You're impacting the money coming into their house and the money coming out of their house to a very large degree." -David Contorno

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

info@nextdaypodcast.com

In this episode, Emma Fox and David Contorno explore the intertwined complexities of fiduciary responsibility and the hidden costs in healthcare. As employers face increasing scrutiny under ERISA and rising lawsuits, the conversation unpacks the critical roles of pharmacy benefit managers (PBMs) and healthcare carriers in shaping healthcare pricing. They discuss spread pricing, the importance of transparency, and the evolving responsibilities of employers and advisors. With insider insights and real-life examples, Emma and David offer a comprehensive look at how to navigate the delicate balance of fiduciary obligations while exposing systemic flaws that burden both employers and employees.

TIMESTAMPS:

[00:28] David and Emma discuss the increasing use of the term 'fiduciary' in healthcare

[04:36] Employers are fiduciaries for their health plans but often unaware

Fully insured plans & fiduciary duties

[11:21] PBMS -spread pricing, revenue, lack of transparency

[24:52]Recent lawsuits against Johnson & Johnson and Wells Fargo for mismanaging drug costs

[26:38] Fiduciary responsibilities under ERISA

[33:26] Payment integrity departments in carriers often lack true integrity

[37:44] Younger generations may drive change in healthcare systems

QUOTES:

• "You have to choose the right consultant, and finding the right consultant can be really hard because... there are a lot of people that you can find on LinkedIn who are saying all the right things, but that does not mean that they are doing the right things."- Emma Fox
• “I don't know, but I think transparency, they say that a spotlight is the best disinfectant or transparency is what really opens it up. And I think that's what we need to focus on. We need to focus on, most employers can't even access the information they need to be a fiduciary. So we need to really talk about transparency.” -David Contorno
• "If you are an employer listening to this, it is now crucial that you make a right selection... you have to be brave enough to say that being with a bucca, being with the CEO, increases my risk of violating my fiduciary responsibility." -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

info@nextdaypodcast.com