Self-Funded With Spencer

"I love working with people who aren't afraid to own up to their mistakes. Integrity is the most important thing to me." - Cara KirschWhat is the secret to a perfect broker-partner relationship? My guests this week, Cara Kirsch and Libby Henry, join the show to answer that question. They share the story of how a single "virtual lunch" during the pandemic sparked one of the most effective partnerships in the industry.Cara and Libby break down the ingredients of their success: radical transparency, the ability to have difficult conversations without breaking trust, and a shared commitment to integrity. We discuss why the best partnerships aren't just about the lowest spreadsheet number, but about who you can trust when things go wrong.We also dive into the results of this partnership, including how they worked together to turn a client's 74% fully insured renewal into millions in savings. Plus, we explore the reality of balancing high-powered careers with motherhood and why women need to claim their seat at the table.Tune in to learn how to build business relationships that actually last.Chapters:(00:00:00) The Secret to a Perfect Broker-Partner Relationship (00:05:07) The "Virtual Lunch" That Started It All (00:15:20) Why Honesty Trumps Being "Nice" (00:18:04) Building Trust Through Intentionality (00:21:57) Balancing Motherhood & A Career (00:42:22) Turning a 74% Renewal into Savings (00:44:08) Why Strong Partnerships Close More DealsKey Links for Social:@SelfFunded on YouTube for video versions of the podcast and much more - https://www.youtube.com/@SelfFundedListen/watch on Spotify - https://open.spotify.com/show/1TjmrMrkIj0qSmlwAIevKA?si=068a389925474f02Listen on Apple Podcasts - https://podcasts.apple.com/us/podcast/self-funded-with-spencer/id1566182286Follow Spencer on LinkedIn - https://www.linkedin.com/in/spencer-smith-self-funded/Follow Spencer on Instagram - https://www.instagram.com/selffundedwithspencer/

Trey Halbert, CEO of ExperINS and expert in strategic employee benefits, highlights the shift from traditional brokers to modern consultants. He emphasizes aligning benefits with business strategies and notes how AI can enhance consultants' roles by taking over mundane tasks. Trey shares insights on self-funding's benefits, the importance of a mission-driven approach, and the value of peer networks. He advocates for using benefits as a tool for business valuation and encourages a cultural focus that prioritizes impactful service.

Mark Masson, President of Renalogic, dives into the alarming reality of chronic kidney disease (CKD), impacting 1 in 7 Americans, with 90% undiagnosed. He reveals how a duopoly inflates dialysis costs by 700-900% above Medicare rates. The discussion includes proactive management to slow CKD progression, the advantages of home dialysis, and the significant financial savings for employers through better intervention strategies. Mark emphasizes the critical need for early detection and competition within the healthcare market to tackle this silent killer.

Sasha Gribov, founder of Milu Health, is revolutionizing healthcare with AI-driven 'early warning' systems. He explains how AI can predict surgeries up to 90 days in advance, enabling proactive patient outreach. Gribov discusses the necessity of integrating health data to identify care needs before they escalate into catastrophic claims. He passionately argues that AI will augment doctors, enhancing care rather than replacing human expertise. Tune in for insights on building a forward-looking healthcare system that saves lives and cuts costs!

Kyle Minick, a guest expert on physician workforce issues, dives into pressing healthcare concerns. He discusses how physician stress is reaching pandemic levels again, driven by rising patient loads and changing reimbursements. Over half of healthcare workers are considering job changes due to feeling undervalued. AI scribes are highlighted as a promising solution to reduce burnout by cutting documentation time. The episode also explores how millions lack access to telehealth due to unreliable internet, creating healthcare deserts. Tune in for insights and a fun game guessing pharmaceutical commercials!

“Just because someone hasn't gone to the doctor in four years does not mean they're not a walking time bomb." - Garrett JerueMy guest this week, Garrett Jerue, argues that the key to solving our healthcare crisis is to think differently and build a truly cohesive healthcare ecosystem. Driven by his personal experience battling cancer and navigating a fragmented system, Garrett has dedicated his career to designing benefits strategies that actually work for people.In this episode, Garrett shares his playbook for building this ecosystem. We discuss the "Ticket Health" model he developed, which integrates direct primary care, transparent PBM partnerships, and robust care navigation into a seamless experience. He explains why treating members with dignity and choice, focusing on proactive care, and challenging the status quo are essential ingredients for success.We also dive into the critical importance of mental health support and why employers need to view their health plan not just as an expense, but as a living, breathing organism that requires constant care and innovation.Tune in to get Garrett and I’s insight on building a healthcare ecosystem that truly serves people.Chapters:(00:00:00) Building A Cohesive Healthcare Ecosystem (00:10:24) How a $600k Cancer Bill Changed Garrett’s Life(00:17:22) Why Healthcare Financing Needs a Rethink (00:25:28) Treating Members with Dignity & Choice (00:38:11) The Keys to a Transparent PBM Partnership (00:43:45) Direct Primary Care: The Foundation of the Ecosystem (00:50:26) Care Navigation: The Glue That Holds It Together (00:59:07) Making Mental Health a Priority in the Ecosystem (01:12:32) The "Think Different" Mindset for Healthcare InnovationKey Links for Social:@SelfFunded on YouTube for video versions of the podcast and much more - https://www.youtube.com/@SelfFundedListen/watch on Spotify - https://open.spotify.com/show/1TjmrMrkIj0qSmlwAIevKA?si=068a389925474f02Listen on Apple Podcasts - https://podcasts.apple.com/us/podcast/self-funded-with-spencer/id1566182286Follow Spencer on LinkedIn - https://www.linkedin.com/in/spencer-smith-self-funded/Follow Spencer on Instagram - https://www.instagram.com/selffundedwithspencer/

In this conversation, Jay Ritchie, President and CEO of Tokio Marine HCC with over 30 years in stop-loss underwriting, shares crucial insights into the tightening stop-loss market for 2025-2026. He highlights the surge in multi-million dollar claims driven by NICU stays and gene therapies, the reasons behind climbing industry loss ratios, and the importance of treating stop-loss partners as collaborators, not commodities. Ritchie emphasizes the role of data in shaping future underwriting strategies and the benefits of active risk management through captives.

John Rutledge, a veteran in employee benefits from Marsh McLennan Agency, dives into the chaotic evolution of health insurance over the past four decades. He reveals how the industry shrank from 25 carriers to just four, significantly limiting competition. Rutledge discusses the impact of the ACA on self-funding and the increasing relevance of alternative risk models like captives. He also emphasizes the crucial need for engaged employers to stabilize costs, push for price transparency, and actively manage their healthcare as a key component of their business strategy.

"Eat your food as medicine or medicine will become your food." - Chef Austin SimmonsCan better beef solve America's health crisis? My guests this week, Chef Austin Simmons of Chef and Rancher and benefits/nutrition expert Chris Pierron, believe it's a critical part of the solution. They join the show to discuss the deep connection between cattle genetics, our broken food system, and our exploding healthcare costs.Chef Austin explains his "hoof to fork" model for creating "better beef." We discuss how using purebred, genetically-verified cattle and clean feeding practices, free of the seed oils and used fryer oil common in the commercial industry, produces a more nutrient-dense and flavorful product.This isn't just about a better steak; it's about creating a healthier population from the ground up. We explore how fixing the food system is the most important step to lowering healthcare costs, and why consumer education is the key to driving this change.Tune in today for a conversation that will change the way you think about the beef on your plate.Chapters:(00:00:00) How Better Beef Can Solve America's Health Crisis (00:05:18) The Hidden Additives & "Poisons" in Most Beef(00:19:38) Why is Prime Beef So Inconsistent? (00:20:58) The Power of Cattle Genetics (00:37:47) Is There Used Fryer Oil In Your Steak? (00:54:22) Should We Federally Subsidize Beef?(01:02:09) Why Food Education is the First Step (01:13:26) Fixing the Food System to Fix HealthcareKey Links for Social:@SelfFunded on YouTube for video versions of the podcast and much more - https://www.youtube.com/@SelfFundedListen/watch on Spotify - https://open.spotify.com/show/1TjmrMrkIj0qSmlwAIevKA?si=068a389925474f02Listen on Apple Podcasts - https://podcasts.apple.com/us/podcast/self-funded-with-spencer/id1566182286Follow Spencer on LinkedIn - https://www.linkedin.com/in/spencer-smith-self-funded/Follow Spencer on Instagram - https://www.instagram.com/selffundedwithspencer/

Trey Smith, an accomplished employee benefits sales leader at Hub International, reveals the pitfalls of high healthcare deductibles, arguing they create major barriers to necessary care. He advocates for 'first dollar' coverage, which encourages timely treatment and ultimately lowers costs. The conversation explores innovative plan designs, the importance of tiered networks for directing patients to quality providers, and the role of tech in enhancing benefits. Trey emphasizes how these strategies not only help employees but can also boost recruitment and retention for employers.