Retire Early, Retire Now!
This is a Podcast to help people retire early and help people retire now. Financial Planning topics will be covered and explained so you can plan and retire with confidence.
Retire Early, Retire Now!
Offering Employee Benefits With Danny White
In this episode, we welcome back Danny White for the second part of our discussion on health insurance for business owners. Due to some technical difficulties last week, we're delivering this bonus episode to you. We dive deep into strategies for offering health insurance, from pre-tax contributions to the different types of insurance plans like fully insured, level funding, and self-funding through captives. Danny explains how businesses, especially in Florida, can navigate the health insurance landscape, the role of brokers, and how to maximize employee benefits while managing costs. Essential viewing for business owners looking to enhance their employee benefits packages and improve their bottom line.
00:00 Introduction and Technical Difficulties
00:36 Health Insurance for Business Owners
01:06 Understanding Employee Benefits Packages
02:08 Choosing the Right Health Insurance Plan
05:08 Employer Contributions and Cost Management
11:11 Level Funding and Claims Data
19:59 Self-Funding and Captives
27:18 Conclusion and Additional Resources
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And welcome to the retire early retire now podcast. I'm your host hunter Kelly owner of Palm valley wealth management. And today we will be, uh, talking with Danny white of two 12 benefits about offering health insurance to your employees. So if you're a business owner, you're thinking about offering health insurance to employees. Uh, this would be a great listen, great starting point. Uh, to go about offering those benefits. Uh, so great conversation with Danny today. We get into, uh, what we should think about as we start off with small companies and moving on to more customized plans. Uh, in those larger company roles. So, uh, give it a listen. As a reminder, we are recording and putting this on YouTube. Now, as I go to YouTube, subscribe to my channel. Uh, like the video. And share this with a friend that maybe owns a company and could offer benefits or maybe shopping benefits, uh, for their employees. So, uh, hope you enjoy great conversation with Danny and as always appreciate him coming on, but, uh, enjoy the listen.
Scarlett 2i2 USB-2:But anyway, so, um, yeah, Danny White's back. Yeah, talking about, about health insurance.
Scarlett 2i2 USB-3:part two or three. I
Scarlett 2i2 USB-2:Part 2B.
Scarlett 2i2 USB-3:yeah, there you go. That's a good
Scarlett 2i2 USB-2:Yeah, we had some technical difficulty on my end. Um, when we started recording last week. I didn't actually record. So, uh, we're back. So, this is actually lucky for you Avid listeners. You'll get this one on a Thursday. So, you'll get an extra episode this week. Um, so we talked about, uh, contributing pre tax versus Roth on Tuesday. And now. We're going to have Danny White talking about health insurance. So if you're a business owner, we're going to do it from that perspective. And then next week, we'll talk about those Roth conversions, like I mentioned on Tuesday, but uh, just kind of a background. I know you've been on the podcast a couple of times now, but, uh, tell us about 212 benefits and how you help from the business owner's perspective and, and, uh, we'll go from there. Yeah.
Scarlett 2i2 USB-3:212 Benefits, we're a local agency. And so, you know, what we do is we help business owners implement and manage their employee benefits packages. So that might be their health insurance, their dental insurance, their vision insurance. disability and much more. So, um, that includes, you know, think Aflac or some, there's some other carriers, but you got your critical illness policies or your cancer policy. So all of those types of insurance create a benefits package. Uh, and we're kind of the middleman between business owners and the insurance carriers themselves. So we're kind of advocating for these business owners, kind of walking them through the steps of, of getting these policies in place.
Scarlett 2i2 USB-2:owners, kind of walking them through the steps of getting these policies in place. Where, um, I either want to reward my, uh, employees or maybe it's a way to start to recruit some new employees. Where do I even start to go about finding, uh, health insurance plans to be able to offer to my employees?
Scarlett 2i2 USB-3:So obviously, you know, Working with a broker is step number one, because they're going to know the ins and outs. They're going to know the carriers are going to probably have your best luck with as far as rates, as far as the network in your area. I assume probably most of the listeners are Florida, Northeast Florida. Um, so, you know, obviously you probably are aware of Florida blue. UnitedHealthcare, Aetna, Cigna. It's kind of your, your big players, so to speak, in, in, in the area. And so just kind of quoting and figuring out what, what's the most affordable and what's going to fit the needs of, of your employees. But it is quite that simple. I mean, it's gathering very basic information on, on the employees you have. It's a list of them. And you know, we submit that to the carriers and we get some numbers. So through some paperwork, we, we get it installed.
Scarlett 2i2 USB-2:Yep. And so, outside of the number of employees that the insurance company is looking at, what else is the insurance company looking at as far as how they're going to price out your group?
Scarlett 2i2 USB-3:So the biggest thing in the, in the small market is going to be your age. Um, and you know, if we don't have to get into the weeds necessarily, but if you have over 10 employees, we'll take an average of all of your employees age, and they're going to spit out, uh, rates as far as tiered, um, it'll be employee only Employee plus spouse is a separate rate. Employee plus children is a third rate. And then employee plus family, which would be a spouse and children, that's a fourth rate. And so those four are four different premiums every month. Um, the other would be age banded, they call it. And that's based on your individual age. Um, so they'll look at age. Um, but they'll also look at, uh, depending on the, the insurance products. Thanks. Thank you. They'll look at, uh, your, your history. So, you know, there's some software. Again, this is all to put it lightly. There's, uh, a master kind of software that all these different carriers can look to that has some of your, your health information, um, and your history. And so they kind of use that and leverage that to, you know, assess risk and how much, uh, they think that you're going to cost them
Scarlett 2i2 USB-2:that you're going to cost them incrementally. Of
Scarlett 2i2 USB-3:quite literally
Scarlett 2i2 USB-2:Yeah. I'm assuming you're talking about the underwriting. I guess, let's say you sit down with the business owner and you lay out Florida Blue, United Healthcare, whatever. Um, at that point, once the business owner decides what plans that they want, or carrier for that matter, Um, what are they on the hook for? How does that start to affect their bottom line? Um, and what do they have to contribute toward the employee? Yeah, so
Scarlett 2i2 USB-3:Yeah, so once they decide what carrier and what plans they want to offer for the health insurance, it'll be important to note that as an employer, you're responsible for a minimum of 50 percent of the employee only kind of going back to that tiered structure I was referring to 50 percent of the employee only portion on the cheapest plan you offer.
Scarlett 2i2 USB-2:So depending
Scarlett 2i2 USB-3:So depending on how many employees you have, you can offer two plans. You can offer three different insurance plans with different deductibles and max out of pockets, but whatever the cheapest plan is, you offer half of the employee. Only portion is the bare minimum. If you want to do more, you can, whether it's 75%, you cover a hundred percent of the employee's portion, you can do a flat dollar amount per month, whatever contribution structure you want, you can set up. And again, this is all on a pre tax basis. So You're
Scarlett 2i2 USB-2:uh, you're, you're offering that health insurance. And so, um, while I didn't do much of it, my old employer, I'd been like helping, uh, with another advisor on a couple of these cases where, where he came in and did the health insurance and I got to do some financial education and stuff like that. So oftentimes, and you probably see this a lot, maybe the business owner has some extra cashflow and they'll. They'll fork up half of the lowest plan, but offer a higher tier plan, um, to say that, Hey, we're offering you something, but I can't necessarily give you the Cadillac deal, um, right away, which is a good starting point for the small business owners, um, that, uh, want to kind of dip their toes in, but don't necessarily want to be on the hook for thousands of dollars a month
Scarlett 2i2 USB-3:Yeah, I mean, yeah, so again, that 50 percent of the cheapest plan that's still really helping the employee. That's, that's why it's called a benefit, right? I mean, if you get a health insurance policy through the marketplace, maybe it's 500 a month and then, you know, you go through your employer, maybe there's a plan that's better quality. They're lower deductible and it's 800 a month, but they're required to cover 50%. So you're only on the hook for 400. So you compare your individual marketplace to
Scarlett 2i2 USB-2:Yeah, you save
Scarlett 2i2 USB-3:better quality
Scarlett 2i2 USB-2:you have a plan.
Scarlett 2i2 USB-3:exactly. And you're saving money still. So, um, even that 50 percent can make a huge difference. Um, so it definitely is a good way to dip your toe in starting with the bare minimum. And it's not uncommon to see, um, and even kind of take it a step further. If you really want to dip your toe in as an employer of, you know, offering some benefits,
Scarlett 2i2 USB-2:benefits,
Scarlett 2i2 USB-3:forget about the health insurance to start. Maybe it's just starting with dental and vision. And some of those, what we call ancillary or supplemental policies, those can be offered and you can pay for it as the employer and it won't be as much, it'll maybe a dental policies, 20 to 35 bucks a month. Vision is less than 10 a month. And so you can offer that and pay for it. You're, that can be voluntary and you don't pay a dime, but you're offering it at least. So there's different ways to kind of dip your toe in. And then from there, as you grow, you start adding different lines of coverage, increasing contributions, and really bolstering the, the, the package.
Scarlett 2i2 USB-2:Yep. And so once the business owner, I'm going to test my. Uh, my memory on here, once the business owner has been offering, let's say plans and wants to kind of level up a little bit, maybe the business is growing. Um, those plans that we're talking about right now are kind of cookie cutter and they're called fully insured plans, right? So now what is the next step from, Okay, I've been in kind of this cookie cutter. I know I really have a lot of negotiating power I'm kind of over that 50 50 employee threshold. I have a lot of cash flow
Scarlett 2i2 USB-3:next steps to
Scarlett 2i2 USB-2:What are some next steps to maybe help? More tailor my insurance to my employees, but also help on the business side as well
Scarlett 2i2 USB-3:my employees, but also up on the business side as well. And that's to save money. All right. Everyone wants the best quality coverage for the lowest cost possible. Who doesn't want
Scarlett 2i2 USB-2:Yeah, that's like wanting the most possible return or least amount of
Scarlett 2i2 USB-3:Yeah. Right,
Scarlett 2i2 USB-2:that's what everybody wants in my business. But, you know, it's
Scarlett 2i2 USB-3:But you know, it's tough in health insurance because every year you're going to get an increase. Uh, very seldom do you see, uh, a business owner get a decrease or even a flat, we call it, which is 0 percent increase on their premiums every year, average is eight to 10%. Per year, right? I mean, that's probably a little bit, we're about on pace with S and P 500 and some of the major indicators, but yeah, so kind of leveling up, so to speak, why would you do that to lower your increases, um, take a little bit more control of your premiums, uh, every year and get access to claims data. That's the drivers is claims data. And so, you know, like you said, that's the fully insured model is where it's cookie cutter. I like to say you're renting your insurance, you know, you're you're paying that premium every every month And it doesn't matter how much you use your insurance or not. You're not seeing that money
Scarlett 2i2 USB-2:Yeah, and not and not to take away from what you do. But in those scenarios, you necessarily can't add a lot of value in the sense of, hey, I can go get you the best price because anybody that comes in, that has access to those markets is going to get the same quote for XYZ company with 25 employees.
Scarlett 2i2 USB-3:not hurting my feelings. I'll say it myself. If, if, if you're a business owner and you got a broker or a consultant that comes to you and says they're going to quote and save you some money, I mean, maybe they will find a plan that's cheaper, but it's not because of them. It's quite literally because the carrier quoted it. But yeah, so in the small market, very cookie cutter, not much you can do, no claims data, you're going to see increases.
Scarlett 2i2 USB-2:see increases.
Scarlett 2i2 USB-3:the, the renting, the insurance, the fully insured model. The next step is called level funding.
Scarlett 2i2 USB-2:it's kind
Scarlett 2i2 USB-3:And it's kind of a hybrid of fully insured and the opposite end of the spectrum being self funding large corporations or not even corporations necessarily, but, you know, 500 plus employee groups, they can, they can truly self fund, they can pay for claims out of their own pocket without bankrupting their company. Um, small businesses want to, you know, take on a little bit more risk potentially so that way they can contain costs and a la carte pick some of their benefits to where it's not so cookie cutter and they get the data. But it's tough because if you have 30 employees, one crazy claim is really going to hurt you if you're paying for everything yourself, all the claims. So this level funding product in the middle. is self funding on training wheels. So, you know, about, let's say if your premium per month as a, as a group is 5, 000, about 40 percent of it will say, uh, goes towards, um, uh, let's call it a claims funded bucket. And so that'd be 2, 000 a month. The other 60%,
Scarlett 2i2 USB-2:Those
Scarlett 2i2 USB-3:fixed costs. Those are going to be at administrative fees. Uh, so that's profit for whatever carrier, um, keeping the lights on at their facilities, paying their employees, broker commission, right? So obviously, you know, we don't work for free, so that's built into there. And then the third thing is stop loss premium, which I'll get to in a second, but that's about 60%. So 3000 goes towards that side. So month over month, you know, obviously you're going about your daily life. You're using your insurance. Let's say as a group with 20 employees, it's a super healthy couple months, right? No, one's really using their insurance too much. You're going to see money stay in that bucket because let's say on month one, again, you have 2, 000 go into it, 1, 000 in claims is spent. So you're left with a thousand in that bucket. All right. It was super healthy month, month two, same thing. Super healthy month. Let's say it's a thousand dollars worth of claims as a whole. Another thousand comes out, but again, 2000 went in. So now you're up 2000 in the bucket. That trend continues after 12 months. If you're sitting on a 10, 000 surplus. You get that money back as an employer. And that's basically unspent premium. You, you kind of paid into it with, with your premium, but it wasn't used to pay for claims because it wasn't needed. You get that money back, you know, in the opposite direction, let's say it's a really unhealthy year and your employees are using their insurance a lot. You're never going to be on the hook for more than what's in that claims bucket, that 40 percent because in that 60 percent you were paying that stop loss insurance. And so that stop loss insurance is basically reinsurance or you're insuring your insurance. Uh, so you'll never owe anymore and, you know, obviously you'll have a price to pay, but it's going to be in the form of probably your renewal rates. Um, you'll probably see a hefty increase if your utilization is super high. Um, and so it's a little bit, you know, more creative and you have potential to get some money back. And so you might ask, like, how do you, how do you track your, your claims and whatnot? Well, they give you a report every month. So, you know, in the fully insured, which is that renting model. You don't get access to claims data. In the state of Florida, I should say. There are certain states, they have favorable state laws. In Florida, you ask, yeah, you go to a carrier and you're like, Hey, Florida Blue or UnitedHealthcare or whoever, we want to see our claims data. They'll tell you no. Uh, which is silly because you're paying, you know, for your insurance every month and it's yours, it's your data, but yeah, the level of funding, it doesn't matter if you're small or large group, you get access to, to your data, so you'll see, you know, 32 percent of claims this month went towards prescriptions and 12 percent went towards the emergency room.
Scarlett 2i2 USB-2:So, so let me ask you this. So once you get that data. Does that change the plan year to year and where you're funding, uh, certain, you're talking about these different buckets, right? And so if I know I have a lot of hospitalizations or, uh, medicine or whatever it is, um, am I funding different buckets because of that or like how, how does that work?
Scarlett 2i2 USB-3:Yeah, so it's all in the same bucket. Um, the, the 40 percent premium you're paying goes into just the same account and that's where all the claims are being funded from. Um, but with the data, you know, again, there's tips and tricks you can use to try to mitigate some of those costs. And so the data is really just, you know, Acting as a way, you know, as an alert, like, Hey, just a heads up. This is where you're spending. If you want to cut back, this is where you need to
Scarlett 2i2 USB-2:there's a way for them to kind of prevent some of those costs coming in. So we know we're getting a lot of prescription drug costs or what have you, then maybe we can shop out a, a, a better, more cost effective solution to what we've been paying, uh, given whatever insurance plan I currently have, right?
Scarlett 2i2 USB-3:And so, yeah, with level funding in the small market, again, it's, it's not super flexible, but it's not as cookie cutter. So with that data, you know, if you're taking a name brand drug, maybe there's a generic version out there. That, you know, you can take instead. It'll save you money as a co pay. It'll save the company money in that claims bucket, right? So it's a win win. They're getting treated for what they need. They're saving money. The employer is
Scarlett 2i2 USB-2:Yeah, so hypothetically, like a blood pressure medicine, would, would the employers be able to see that? Obviously, because of HIPAA, they wouldn't say, oh, Danny, the employee is taking the blood pressure medicine, but they know that 10, 000 came from this blood pressure medicine. Um, can we find a generic for that one,
Scarlett 2i2 USB-3:Correct. That's exactly it. So they'll look at the data. If they're seeing 60 percent of their total monthly claims claims dollars are going towards a single prescription. Let's try to address that prescription if possible. You don't know who it is. And if you're a small company
Scarlett 2i2 USB-2:in a family feel, you
Scarlett 2i2 USB-3:family feel you might know
Scarlett 2i2 USB-2:But you
Scarlett 2i2 USB-3:you don't call it out. Maybe it's just an educational session with everybody. It's an hour long session just kind of
Scarlett 2i2 USB-2:long session. Just kind of tips and tricks. And that's the thing is, is trying to, and that's the hardest part, is kind
Scarlett 2i2 USB-3:And that's the thing is, is trying to, and that's the hardest part is kind of incentivizing employees to actually care. Because at the end of the day, you know, I can sit here as a benefits consultant and, you know, I could, I'm passionate about it. I love it. And I
Scarlett 2i2 USB-2:Yeah, you are, but, but maybe I'm not or Johnny that's doing the plumbing is
Scarlett 2i2 USB-3:I was going to say, yeah, any blue collar company or really any company, if you have a construction worker, they're not, their day to day has nothing to do with insurance. It's materials and construction. They're not, they're not focused on
Scarlett 2i2 USB-2:I mean, I think a lot of people have to kind of go through this, but I have to remind myself like, um, yes, individuals care about their situation, but Um, sometimes I care a little bit more than they do because it's just not my profession. It's what I've chosen to do. I enjoy doing it and a lot of times, um, clients know that they have to get it done. They don't necessarily want to get it done, and that's why they're hiring me. So, sometimes it's pulling teeth, but, uh, they mean well. And so, kind of the same situation, like, the, the employer knows it's good for them because they're going to save money for the business and, and the business can grow or they can give bonuses or whatever, but it's getting that employee on board to, to kind of buy into that.
Scarlett 2i2 USB-3:that's that's definitely the hard part. And, you know, money talks to an extent. So, you know, you can try to incentivize your employees by having them, you know, be educated on the fact that, you know, you could save money by doing this instead of this, or you can save money by going here, instead of going here for this treatment. And that only goes so far, even you think, you know, the, the opportunity to save a couple thousand dollars by going to this facility versus this facility would move the needle. Even then, sometimes we see it
Scarlett 2i2 USB-2:needle. Even then, sometimes we
Scarlett 2i2 USB-3:Yeah, yeah, right.
Scarlett 2i2 USB-2:Yeah, yeah,
Scarlett 2i2 USB-3:yeah, it's definitely, it's, it can get tricky because you, yeah, you want to get the buy in, but sometimes they just, they just don't.
Scarlett 2i2 USB-2:Yep. And so let's let's hop into the next level. So I'm growing. Um, maybe I've been on this level funding for a handful of years. I have some good data and I really want to up my, um, or I guess. Yeah, so I would say, so self funding, as I've mentioned a few times now, but, you know, it's
Scarlett 2i2 USB-3:Yeah, so I would say so self funding is I've mentioned a few times now, but you know, that's kind of a broad term. There's different ways to self fund. And I guess the next step past level funding would be what's called a captive. And so there's a couple layers of protection. So, you know, it's self funding in a true sense, but there's still there's still some backing. So you have you as the employer, you're on the hook, you have skin in the game. But behind you, you have a captive. They they're on the hook for some and they have some skin in the game to arrange and then beyond that anything above Let's say a million dollar claim You know, you have a third party kind of reinsurer As as taking on that third layer of risk, so there's multiple layers of risk where everybody is responsible for their segment their dollar amount Um and anything beyond that They're not on the hook. So, um, still ways to kind of spread risk, but you do take more on and you, you know, you have the opportunity to all a cart, pick your benefits. So, you know, these fully insured products, these level funded products for the most part, fully insured for sure. But most of the part for level funding, they're the quote unquote, BUCAs, your B U C A is the acronym, Blue Cross, United, Cigna, Aetna, and there's probably, you know, a few others in there, but they're the large national carriers that everyone knows. And you don't really see it and you don't really feel it when you're on their insurance plans, but they're handling the Pharmacy Benefit Management, the PBM. They're handling the third party administration, the TPA. They're controlling the plan designs. They're doing everything. That's all built into your premium that you pay a month, right? So when you're renting your insurance in that fully insured model, let's say it's 500 a month, you know, a hundred of that 500 per month could be funding the PBM that UnitedHealthcare is using. Um, it's all bundled in with self-funding. You are basically unbundling or you're extrapolating all the different vendors that are. put together in a fully insured model and you are choosing who you want to use. So you can, if you want, use a completely different, um, TPA as you were when you were fully insured. It's a completely third party, um, they might be a privately held company. They don't have the shareholders to appease. There's no conflicting interests. The PBM, the pharmacy benefit manager, again, third party vendor, maybe it's a privately held company where they don't have shareholders to appease, no conflicting interests. So. You can a la carte pick the vendors and create your benefits plan and your health insurance plan, uh, from scratch. It creates a lot more, uh, cost containment. It, uh, allows you to take control.
Scarlett 2i2 USB-2:To me, it, you know, one allows for that customization, but on the, just thinking from the business owner side, it seems like a lot more work, right? So like who, who helps coordinate all that? Um, where do I even go to find these, uh, pharmacy managers and stuff like that? So, um, is it somebody that would have to be hired in house, is it someone like 212? Explain that process on like, how you would go about helping the employer, um, create this new type of plan. Yeah, so
Scarlett 2i2 USB-3:of plan?
Scarlett 2i2 USB-2:self funding through a captive as a new type of plan,
Scarlett 2i2 USB-3:It's best suited for employers that have about 50 or more employees, and you need a benefits champion, someone in house. I mean, obviously 212 Benefits, we're a consultant, we're going to be there every step of the way, we're going to support you, we act as an extension of your business. But at the end of the day, somebody within your organization needs to be bought in. And be a champion of this process because there is more legwork. Um, you see the fruits of your labor, right? Because you're containing costs and you're going to lower your, your, um, premiums, but it does take some work. So, you know, having someone to take that on as well as using us. And then typically the captive themselves, um, they end up helping a good bit, um, in the process. So, you know, those three work together to make it work. And so,
Scarlett 2i2 USB-2:And so, uh, I would imagine it, it would be somebody in HR, um, whatever type of title you want to give them. So are they reaching out to these different, uh, captives and doing this legwork or is that where 212 kind of comes in? And there's a lot of communication back, back and forth between that HR, uh, employee and 212 or HR and the captive, like how does that work? Yeah, so
Scarlett 2i2 USB-3:Typically, you know, again, kind of in the fully insured motto where we're the middleman, same thing. So two 12 benefits acts as the middleman between the, the, the captive and the employer. HR tends to wear that hat. Um, but we also see the CFO because once you get to 50 and above, there's typically a CFO or something equivalent. Um, so they end up being involved as well, because there is a lot more financials that go into it. You basically set your own premiums, um, to an extent where you try not to overcharge your employees, but you do need to make sure you're, you're taking enough
Scarlett 2i2 USB-2:You want to have enough cash.
Scarlett 2i2 USB-3:you have cash to pay for all these claims. So I almost think of it like federal tax returns. Like, you know, after a year of being in a captive. If you basically quote unquote overcharged your employees, you might, you have to give some money back or you undercharge, you might take more and you don't want to do that. So kind of like federal tax returns, the closer you are to zero, the
Scarlett 2i2 USB-2:kind
Scarlett 2i2 USB-3:So same, same kind of thing there. A lot of calculations go into it and that, again, that's where the data comes in and that's where it's super important to see what your
Scarlett 2i2 USB-2:the data comes in and that's where it's super important to see. And they were very fruitful and you pay these premiums and you get all this, all this benefit and all this. Well, 10 years later, they realized that they under projected the premiums that they needed. And now they're, they're obviously raising rates and, and honestly, traditional long term care at this point doesn't really exist unless you really want to pay a hefty premium. And so I think about that for any insurance, it's like, I don't know how, how you create these models to. Um, well, well above my pay grade, I guess, um, to, to price these things out. And, and I'm sure there's standards and things of that nature based off the size and, and what other types of groups have done and age classification and all that, but, um, still would not want to be responsible for
Scarlett 2i2 USB-3:would not be responsible. So,
Scarlett 2i2 USB-2:Um, so, well, good. Uh, anything else you want to add before we get out of here? I think that was a good kind of starter, uh, episode for those who think they want to do, uh, insurance for their employees. Uh, we didn't really get into ancillary, but that could be a good start. So, again, ancillary being, uh, Dental, vision, um, disability insurance, um, think about Aflac and, uh, Colonial Life. They do kind of like the cancer policy, short term disability, things of that nature, uh, would be a good benefit to add, uh, voluntarily if you don't necessarily have the cash flow right away. But if you're, if you're growing like crazy, you have extra cash flow, it's a good way to recruit your employees. So that's why I think health insurance is good. To be honest, you're doing right by your employees, getting them health insurance, um, when, when they probably need it the most, whether that's preventative care or, uh, reactive care, um, to whatever need they have. But, uh, anything else you want to add, Danny? Yeah,
Scarlett 2i2 USB-3:I mean, uh, I'd love to come on this every week and talk about health insurance, but Hunter's got other stuff he's got to talk about, so I'll actually direct you. I recently started a new series called Daily Dose with Danny. It's uh, oh, you know, it says Daily Dose, but right now it's a weekly episode. It's anywhere from three to five minutes on LinkedIn and YouTube. Anything and everything health care and health insurance related. Uh, it might be talking about the major players involved, the flow of money. It might be talking about compliance or even a Q and a session, or maybe it's doing some case studies with current clients or prospects. So it's a whole gambit of, of healthcare and health insurance, uh, topics. And again, short videos. So if you want to check those out, uh, maybe Hunter can put the YouTube link
Scarlett 2i2 USB-2:Yeah, yeah, and uh, uh, watch the first episode, uh Very easy to understand. It was just the basics of what health insurance is and how it works. Um, and I think you just did one with HSA. I've not had a chance to watch it because I think it came out today as we're recording. So, um, no, very informative. And, uh, he's, he's more technical, not, uh, technologically advanced cause he's using, uh, graphics and all kinds of things. So, uh, check that out. And, uh, Danny, you're welcome anytime to talk about healthcare.
Scarlett 2i2 USB-3:about healthcare.
Scarlett 2i2 USB-2:uh, I guess we'll see you next time.
Scarlett 2i2 USB-3:time. very much.
Scarlett 2i2 USB-2:Podcast is for educational purposes only. It's
Scarlett 2i2 USB-3:purposes only. It's
Scarlett 2i2 USB-2:not meant to be financial insurance or tax advice. Please seek a financial professional, uh, when thinking about your own situation and do not make decisions solely based on this podcast. Um, please seek help and keep Palm Valley Wealth Management in mind when making those considerations.