Episode Transcript
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Speaker 1 (00:02):
His Brian Thomas host to that You Bob Casey Morning
Show Monday through Friday five ninety am, but on Sundays
get the joy and pleasure of talking with John Rohman
and sometimes the team from Covert Sincey a better way
to get your medical coverage working with a broker who's
on your side of the table, sitting across the table,
hundreds of insurance companies, thousands of different insurance policies, and
(00:22):
a group of folks that are there to make sure
that you get the right coverage at the period of
time where you are in your life. Because everybody's different,
look at you individually. You're not just glomming onto one
big group thing. Your employer's offering to you and finding
better solutions for you so it covers the out of
pocket liability or reduces it significantly, can lower the premium
and fill the holes in the insurance bucket because not
(00:44):
everything's covered and John on the team work to ensure
that all the angles have been taken care of. There's
no cost or obligation fee to deal with the team.
Talk to them, let them looking to find out where
you are, find out if there's a better path for you.
One that could save you significant amount of money and
keep you out of a lot of the problems coming
our way as a consequence, some of the reforms you
(01:05):
may call them reforms. But last week we talked about
the impact of the one big Beautiful Bill and amazing
and profound and mostly bad news for folks that are
on the Obamacare policies and the big beautiful Bill. This
week we're going to talk about covering, you know, group coverage,
how it might be implicated, and some of the other
ripple effects that that one big beautiful bill and other
legislation might have. John Rohlman, Oh, let me give you
(01:28):
the number. It's eight hundred one our five one three,
eight hundred two two five five five one three eight
hundred two two five five. That's how to reach John
and the team at cover since he or fill the
format on the website coversincy dot com. That'll get the
process started. And again you don't have to pay for anything,
just let them do the work for you. John, Good
to see you again. Happy Sunday morning.
Speaker 2 (01:48):
You'd see Brian, good morning.
Speaker 1 (01:50):
Uh. Last week that was a real eye opener. Yeah,
that I had no idea of how widespread the implications
are under that one big beautiful bill for Obamacare and
health insurance generally speaking, So and folks on Medicaid out there,
they really really really should probably give you a shout
because things are going to get landscape on that's going
(02:10):
to change. It sounds to me like fewer people are
going to even consider Obamacare is a choice.
Speaker 3 (02:16):
I mean, when you're talking about five to six million
people being affected by it, I mean I would probably
say seventy eighty percent of those people are going to leave.
Speaker 1 (02:23):
And that's in connection with losing the tax credit.
Speaker 2 (02:25):
That's just tax credits.
Speaker 1 (02:26):
Yeah, and that's a huge I mean, that's a huge
I don't know how you want to approach it. Lost.
For a lot of people, they've been relying on the
tax credits in order to afford the monthly premium. Yeah,
that's gone. Out of pocket liability has gone up to
ten thousand dollars.
Speaker 3 (02:40):
The CSR is gone, the clast showing reduction, so all
those people that have the lower reductibles and co insurance
is gone. So even when you got the lower incomes,
you're not going to ten grand next year, you know.
Speaker 1 (02:49):
Yeah, far and widespread. And then one of the things
you briefly touched on last week, which I the hospitals
and funding for hospitals, which was a real sticky wicket
for the Republicans when they're negotiating this because rural hospitals
apparently are going to be broadly impacted by the uh
the changes under the law. But how does that carry
(03:10):
over into our discussion today with regards.
Speaker 3 (03:13):
Well, we'll think about it this way, and again, this
is new, right, we're just seeing it. Yeah, you know,
we don't know full implications. You know, everyone's always scared
and thinking that there's massive cutbacks. We don't all know
until toy bely what six months, a year or two later,
when really we see the full ramifications.
Speaker 1 (03:30):
They keep your popcorn out and wait for it. It'll unfold.
Speaker 3 (03:33):
You said it on the Yeah, But I mean that's
that's just so interesting, you know, because think about it
on this realm. You know, if if if a hospital
is starting to lose some money, what's the what's the
first thing they're going to start doing?
Speaker 1 (03:45):
Raising rates?
Speaker 2 (03:46):
Raise the rates? Right, sori is.
Speaker 1 (03:48):
Going to cost you nine thousand dollars or something.
Speaker 3 (03:51):
And I've seen this, by the way already now, so
maybe it's more than that. But you know, let's let's
really think about this in perspective, right, So if if healthcare,
if they're starting to lose money, they start raising rates, right,
Insurance companies not usually far behind, and they're gonna start
raising rates, right, And I think, you know, this is
gonna really and we're already starting to see the effect
(04:12):
on small business owners, right, We're already starting to see
the effect on those groups like under twenty five.
Speaker 2 (04:18):
Yeah, this is huge.
Speaker 3 (04:19):
I mean we talk about this in numerous shows where
even the group guys and I'm a group guy. I
do group insurance, right, I do individual coverage. I'm kind
of that anomaly that does both. Most group guys only
do group, right, most individual guys only do individual. So
when I look at this as a perspective, I talk
to a lot of people that are doing those markets
and you know, every single day like we do. And
(04:40):
you know, they're basically telling me, like, you know, if
it's a group under ten, we don't even care about them.
I can't tell you how many of your listeners have
called me just because their group guy, because they have
like fifteen employees, doesn't even want to pick.
Speaker 2 (04:51):
Up the phone anymore.
Speaker 1 (04:52):
On that's ridiculous.
Speaker 3 (04:53):
It is because number one, he's probably not making any
money off of it anymore because they're scaling back on
commissions to these guys. So he's looking for the bigger fish.
But I'm not giving him justification. We don't treat I
don't treat my one client with one policy with me
any different than the guy that has fifty employees with me. Right,
we treat them all the same. But that's that's they're here.
They're there as far as what's going to affect here.
(05:15):
But what we're going to really see is if the
group setting side is getting so bad right now, what's
going to start happening when these full ramifications of what
we just saw in this bill get passed healthcare starts
rising again. Now, rates are going to start going up
eventually here on the group side, even more than they
already have been. And I've already seen twenty thirty forty
(05:36):
percent increase on a small group side. So what if
it's more. At some point, you're going to be in
that complete situation where you're gonna have to turn to
your employees and go, hey, we can offer help insurance anymore?
Speaker 1 (05:47):
Right?
Speaker 3 (05:48):
You know this is now my number one, you know,
highest expense by expense.
Speaker 2 (05:52):
For my business.
Speaker 3 (05:54):
So it's about you know, this show today is about
really planning for the future and the things that you
can instill today to hedge off those huge increases or
potentially look at the alternatives to group insurance. Or if
you're sitting here listening and going, well, I thought about
doing group insurance. Now you're scaring me the hell and
(06:15):
I don't want to do this at all. Right, there's
still really good options for you that you that that's
not gonna break the bank, that might not be the
traditional group route. We've talked about this before and all
hit on some of the major things like like ikras,
like section one twenty five I plans. There's so many
different ways that we can really initiate good coverages now
because listen, at the end of the day, even as
an employer, a small business employer, I mean, we have
(06:37):
fifteen employees in my company. Now, you know, when I
look at that, it's like if I don't offer benefits, right,
I mean, how do I attract other people that I
need to come work with for me?
Speaker 2 (06:49):
Right? How do I maintain my employees?
Speaker 3 (06:52):
You know, if if someone else is gonna do what
I do, and you know, come around, Hey, we'll give
you the same rape, but we're gonna give you health insurance. Right,
They're gonna gonna probably want to go there.
Speaker 1 (07:01):
Right.
Speaker 3 (07:02):
But also I've seen this more on the on the
fact that most of my employees, I mean, yes, I'm
an insurance, so they know they have to have it.
I also provide it. But at the end of the day,
I look at the fact that we even when I
have conversation with some of my employees. Ago, John, I
probably wouldn't buy it if you didn't offer it, you know,
even though I know everything about it. It's just like
(07:23):
that's an expense that like I can't contemplate, you know.
Speaker 2 (07:26):
It's it's hard for a lot of things.
Speaker 1 (07:28):
They're healthy and they're never gonna get sick.
Speaker 3 (07:29):
Well, that and just sometimes the expense of health insurance
that go. If I was working for somebody else that
didn't offer benefits, I wouldn't buy it on my own.
I know that I need it to hear because I
work with you. I see the claims every day. It
scares me to death. But if I was working somewhere else,
I probably wouldn't have it. John because I you know,
most other places I worked that they wanted me to
pay three or Fourhuner bucks a month for health insurance.
I just know, way I'm doing that, you know, and naturally.
Speaker 1 (07:50):
If it comes along with a substantial out of pocket livebuility.
Speaker 3 (07:53):
Absolutely and the true cost of health care, right, I
mean the out of pocket expenses too. It's just so
many employees don't do that. So, you know, we're in
a really good market here in the Cincinnati region, right,
I mean, you know, I was just looking at job
postings for small businesses here to last month because we're
always look at that type of stuff. I mean, it's
up eighteen percent this year. It's a pretty big growth
in our area. A lot of people are looking. You know,
(08:14):
we had the COVID years and we couldn't even have waitresses.
Speaker 1 (08:17):
Right.
Speaker 3 (08:17):
The business are shotting next to me, don't. People are
looking to get out and getting jobs right now. And
guess what the number one thing search for when it
comes to be, it becomes the jobs benefits benefits. Right,
It's not just hourly people want benefits, you know, even
the younger people you know, coming off their parents group plans,
these these new generations they want health insurance. They know, listen,
they're healthier. It's even funnier because like my son will
(08:41):
be nineteen years is nineteen years old, and you know,
I remember being that age, and I started having conversations
I think because he's going to go to college, and
one of his grandparents start going, you know, hey, you're
going to be going to college and you're gonna go
to do a frat and go drink. He goes, I
have no interest in that.
Speaker 2 (08:56):
You know why.
Speaker 3 (08:56):
My son works out three or four times a week.
He eats healthy, doesn't need processed food like these This
generation coming through is way more health conscious than ever before.
I'm way better than my generation and probably yours.
Speaker 1 (09:09):
Oh yeah, well with that question.
Speaker 3 (09:11):
You know, but and you know he I mean, yes,
he's my son, but he talks to his friends and
I mean even his roommate, you know, and they're like,
they had a whole conversation about health insurance because where
the school he's going to actually has a health insurance.
Speaker 2 (09:22):
It's cool.
Speaker 1 (09:23):
Yeah, I mentioned that colleges offer.
Speaker 3 (09:25):
That, yeah, and that it's on mind. They're like, yeah,
we need to make sure we have proper health insurance.
I need to make sure I'm covered, I'm not gonna
go into financial debt. So this generation is very conscious.
So if you're wanting to attract that next generation of
twenty early twenty something's mid twenty somethings, I mean, you're
gonna have to offer benefits. And this is why it
is so important that you do that moving forward.
Speaker 1 (09:45):
Well, and you've helped some of my listener groups small
businesses come up with a better plan for their employees.
They find out the problem you just mentioned. Geez, it's
gotten really expensive per employee. I'm paut of pocket this
amount of money and it's gone up this year. And
so through working with you, and I always regularly defaulted
back to my friend Jeff, but his small business, you
(10:05):
improved his business's bottom line while getting employees better coverage
and some employees so otherwise wouldn't have bothered, like you
were just saying, to even buy coverage because of the
expense and the out of pocket liability. If you restructure it,
you can offer an attractive policy that is affordable that
they're gonna want to buy and then fully appreciate, and
then that buys you employee retention.
Speaker 3 (10:26):
I'm trying to remember, but I think it was one
of his employees, Jeff's. I don't think he actually had
health insurance with this original group plan. So when we
came in and helped their restructure what they were doing
and give them some alternatives and we and they went
with that. I remember one of his employees coming up.
He was like, Adam it like, no, no, I'm not doing anything.
Somebody comes in here every year and gives us this
big dog and shonepo and show and like basically just
(10:47):
shows us everything, and like, I'm just not gonna do it.
And once I said I'm down to really explain what
we were doing, he goes, yeah, I'm definitely gonna do this,
and hey, can you help my wife? Yeah, because you
just have all the injured to it. Absolutely, let's just
take a look at it. So it's you know, we
we do so such a good job at this, Brian,
because we really work with every single employee. It's not
me just working with you as an employer. I want
to take that off your plate, you know, I want
(11:08):
you to kind of initiate it, but ultimately, at the
end of the day, I'm going to work with each
of your employees to make sure that they have the
best care coverage you know, for their family, show you
how to produce those out of pocket expense and show
you to cut cost. I mean that's a big thing
because these traditional group options, you know, they're just they're
just gonna be so expensive. You know, I run into
them all the time, and you know, you're they're looking
at six seven, eight point fifty. I think I just
(11:29):
ran into one the other day. Was twelve hundred bucks
a month for each employee. They're just a small group,
you know, they had fourteen employees. One of them was
fairly sick. I'd gone through cancer like a couple of
years ago, and you know that rageous skyrocketed. Yeah'll do it,
and they go, John, can you find me another plan,
it's cheaper. I was like, I can't find you another
plan like what you have that's cheaper. We're gonna have
to do something a little different. And they were so
(11:51):
happy because we were able to not only reduce out
of pocket expenses, but I think I said them like
forty percent on the premium and got them better coverage.
So I mean, that's that's the reality of what we're doing.
But there's different techniques to really do that. And again, Listen,
you know, these are not gonna be issues that you're
gonna be dealing with where it's like, oh, well, John's
gonna come out with someone plan and you just start thinking,
(12:12):
running running through your mind, going it's gonna be some
plan that no one takes. Listen, we work with all
the local carriers, I mean in the Cincinnati We're working
with companies like Anthem. We're working with companies like Medical
and Mutual. We're working with carriers that you're your custom
to seeing, and also national carriers. We're working with, you know,
the hospital groups that we have like you see Health Mercy,
you know, you know christ I mean, we work with
(12:33):
these hospital groups all the time. I know which insurance
companies they take, how I know the doctors that are right.
So you know, we're gonna make sure that your plans
meet the needs for all of your employees. But now's
really the time to start thinking about it, because listen,
it's July. What's gonna be happening here in the next
few months. You're gonna start getting your new annual rate increases.
Speaker 2 (12:54):
But you're gonna have an.
Speaker 3 (12:54):
Open enrollment time, right, You're gonna start seeing those new raids.
So let's start the conversation now so we can.
Speaker 1 (12:59):
Get year it up for that and hit the ground running.
Speaker 3 (13:02):
Hit the ground running. That way we have a new
plan maybe by the end of the year. Everything's easy.
It's not like some of your listeners will call me
and go, John, I need a group plan next week.
Our rates are going up. I waited, I waited. Let's
start that process. I usually tell like, listen, forty five
to sixty days is what I really need to you know,
do the research, build a plan, educate you and your employees,
(13:23):
and get it all instilled. So that way when that
date hits, you know, we're not going, hey, the card
has been mailed three weeks. You know here in three weeks. Yeah,
I want to make sure you have them in your hand.
Speaker 1 (13:32):
I think it's fortant to stress. I mean, doubling down
on what you said just now, but you've said previously.
You know, most employers, I think of the small business
person sitting there behind his desk trying to keep all
the balls in the air to keep the business running.
You know, supply chains and and you know equipment needs
and whatever it is that you're doing with your business,
(13:53):
and you don't know Jack squad about medical insurance to
start with, but you're the guy or gal that's respond
us for bringing someone in the door to talk about it.
And again going back, you get one insurance company with
one set of options and all under the same umbrella,
the same insurance company, and very expensive. This is a
role that you do not need to take on. It's
(14:17):
like hiring a human resource expert in health insurance. John
and his team take over all of that for you.
They present the different proposals, they look at each of
your employees, they create packages of insurance designed to fit
the specific need to those employees, and they explain it all.
And then the other point is my favorite one, about
what you do down the road after you get insured.
(14:37):
Through John and the team, you guys will resolve insurance
claims problems. Because the idea is spending time on the
phone with an insurance company. It's like nails on the blackboard.
Speaker 2 (14:45):
Man.
Speaker 1 (14:46):
You know it's going to be an hour plus minimum
and you probably don't even know what you're talking about
when you get on the phone with them anyway, Like
what's this EOB, what's this number? I don't understand why
this was denied. So we had a group that we
be working for a while and everything's been doing really
well at the package that we gave them, and they
had one employee that had a pretty significant claim and
(15:08):
you kept providing the wrong documentation and whatever the reason,
the hospital wouldn't build a secondary so we stepped in
to handle it, and uh, you know, ended up just
you kept giving us the EOB from the insurance like
I can't use that.
Speaker 3 (15:20):
I need I need the one from the hospital that
actually shows the codes on That's how they're going to
pay the claim. Well, anyway, I guess it got back
to the owner at this point He's like, I haven't
had a problem with this is a be a problem
moving forward? They're not going to pay these claims, right.
We didn't look at another option was like, listen, I
will tell you this right now. I work with one
hundred insurance carriers. If you called me up today and
(15:40):
go John, which one doesn't don't you have problems with?
I would go, well, none of them. There's there's a
problem that always happens at some level. There is. But
I'm the problem solving business, right Like, I'm literally here
to help solve problems. So fast forward, Like it took
two weeks. But in two weeks I got them a
check for like almost five grand. So once we got involved,
(16:01):
two weeks later, you got I gotta check for five grand,
like the right paperwork for the paper, right paperwork, which again,
let's be honest, most people just don't understand.
Speaker 1 (16:09):
That's see, you know, throw me in that boat, man.
I mean, I having I was a lawyer for an
in medical insurance company. But a lot of the stuff's
like the peace of God. That's why I have my wife. Yeah,
you just her figure it out.
Speaker 2 (16:21):
Trust me.
Speaker 3 (16:21):
We all have our holes. And then it's great when
we found a stouse that doesn't so far.
Speaker 1 (16:24):
Amen, Amen, I'll cut the grass, you handle the insurance going.
Speaker 3 (16:28):
There you go, there you go. But I mean, it's
that's the reality. It's like, listen, if you're listening to
this right now, I'm thinking that this is gonna like ah,
I would love to do that. This is so busy
and I just don't have time to think about it. Like,
let's just start the process. We make it very easy
and smooth. I mean, most people that end up working
with us, they go, John, that was a lot easier
than I thought, because once you kind of dumbed it
(16:48):
down for me so that I can understand that I
didn't have to go back and tell my thirty employees
how to do it. Like literally, you handled it. You
met one one with them. They now completely understand and
he goes, you know what, I don't give They don't
talk to me about it anywhere. They have your customer
care line, the hot line that's for clients only. They
call that. Someone answers the phone. It's not some other
(17:10):
country that answers it. And you're dealing but you're literally
dealing with job. Yeah, you're literally dealing with someone from
our office. And we make a ticket and we get
it handled. And you know that's the beauty of working
with us is that we've built out that infrastructure to
help your employees.
Speaker 2 (17:24):
We're the ideal.
Speaker 3 (17:25):
Brokerage that can work with your business. I'm not a
one man show. There's no way to be able to
do groups. I get agents that work for me. I
have agents all over the United States that you know
are independent guys at just one man show, one woman show, right,
I tell them all the time, they go, John, you
do groups all the time. I'm like, you're not, because
you don't have the infrastructure. When you get a couple
of employees that can do it, then I feel comfortable
(17:48):
allowing you to do that because you're also representing me,
Like I can't have you go out there and help groups,
and you go out there and break up a forty
man group and help them, and then you can't answer
the phone because you're so busy as a one man shows.
I had to build business to be able to accommodate
this because I saw the need, and that's why we're
taking over the whole area. I mean, we help clients
in all fifty states on this, but I mean we've
(18:08):
helped so many people in the greater Cincinnati area do
this and they're all still clients.
Speaker 1 (18:13):
Yeah, retention of retention of clients is an obvious sign
that things are going really well.
Speaker 3 (18:20):
Absolutely, And if for five star rating doesn't help, well,
there's also.
Speaker 1 (18:24):
That to put your horn a little bit more genre.
Speaker 3 (18:27):
Well, you know, it's to me that that means the
most in the world. You know, at the end of
the day, it's you know, keeping your clients happy, you know.
And I learned in business a long time and I've
been doing this for twenty years. It is a lot
cheaper to keep a client than find a new one.
Speaker 1 (18:41):
Well, let's just run you randomly. Are you just rattled
off group help plans, the EKRA and POS.
Speaker 2 (18:47):
Yeah, we'll talk about that a little bit differ.
Speaker 3 (18:49):
So ekro is really good option, and I think is
going to be more highlighted here ever than before, because
I do feel like these costs are going to continue
to go up. So ikra is a really good option
for employers if you have over fifty employees. This is
something I mean even if you have a lot of
higher income employees, and again with losing these tax credits,
this might even really be helping a lot of the
(19:10):
smaller businesses too, including like my company. So ekraa is
basically a way that I can not provide an actual
traditional group health man. I can put money aside into
a health reimbursement account that then my employees can utilize
that money to buy their own health insurance, right, and
that still enables me as if I'm an employer with
(19:31):
fifty employees. That still enables me to get around the
penalties that I would have because if you're over fifty,
I get penalized not providing health insur exactly. And it's
a lot. You're talking four or five six grand per employee.
It's a lot of money it is to lose for nothing, right,
just a penalty. But a NICRO enables you to do that.
And then once you set that account up, I can
then go and help each of your employees get their
(19:53):
own plans and get reimbursed through.
Speaker 1 (19:55):
That, and they get their stiping through the ECRO fund
and then they buy the insurance through you.
Speaker 3 (19:59):
And yeah, and it's still right off of your business,
just like a health insurance plan would be. It just
gives you a lot more flexibility but also helps you
control costs. Right, You're not going to be sitting there
and going, oh, my health playing up forty percent this
year because we had somebody with a claim. No, let
me take those employees and put them with bigger groups
so that those rates don't raise forty percent a year.
Speaker 1 (20:18):
All right? What about the Section one twenty five wellness programs?
Speaker 3 (20:21):
This is huge, right, So we talked about the fact
that tax credits are going to go away for people
over four hundred percent fpl Right, Well, what if I
told you even for your employees that might make a
little over that or maybe make five hundred percent of
the FPL, right or maybe six hundred What if it's
a way I can take their income and bring it
back down to four hundred percent FPL and you're still
(20:41):
paying the same amount of money.
Speaker 1 (20:45):
I would say, I wouldn't want to take a salary cut.
No salary cut. Yeah, I know how you do this.
Speaker 3 (20:52):
Is so we talked about this, I don't know about
about a year ago here, and we helped quite a
few businesses to do it. And I'm bringing it back
up because is you know, some businesses do it. I
always recommend it, but I think this is going to
be more imperative right now, especially for those if you're
an employer group right now you're like, hey, you know
my employees make between like thirty to sixty grand a year, Right,
(21:14):
this really is something you should look at because what
this enables me to do this is a Section one
twenty five plan and a wellness program. So the first
point is wellness programs are really good for an employer anyway, right,
maintain the health of your employees, give them access to
things like telehealth. Right, we just talked about regional reductions
last week, about hospitals cutting back. Maybe we're gonna have
(21:36):
less doctors, they're gonna have access to, well, what happens
if somebody gets sick, they're gonna send them the urgent
care every time, or the emergency rooms. That's bad, right,
But telehealth is so huge. We talk about this all
the time, how good telehealth is. This is a company
company wide telehealth program that you can do, you know,
for you and all of your employees and enables them
to have instant access to health care anytime they need
to and it's free to use. Through that telehealth program,
(21:58):
they can tell a doctor eleven o'clock on a Tuesday night,
get their med first thing in the morning, and then
good work, not take a day off to go to
the doctor.
Speaker 2 (22:06):
Right.
Speaker 3 (22:07):
So that's really important. But here's the bigger kicker for you.
A section one twenty five plan allows me to enroll
this plan for your employees where all the premiums that
are attached to this plan are our pre tax dollars.
Speaker 2 (22:19):
Right.
Speaker 3 (22:20):
So pre tax is great for an employer, right because
if I can take out something pre tax from an employee,
guess what that helps me to do save money on
payroll tax exactly, absolutely, because I don't pay tax on
that on myself and they're not paying tax on it.
But here's the nice thing about these wellness programs. So
basically how these basically these work is the employees have
to watch a video once a month.
Speaker 1 (22:42):
I remember that, Yeah, wants of a video.
Speaker 3 (22:44):
Once a month, and it could be anything stretch management,
like how to better communicate in the office, right, smoking cessation?
Speaker 2 (22:52):
Right?
Speaker 3 (22:52):
I mean I have an employee one time that I
think smoked a pack of day and I literally started
looking at it and I'm like, I realized that like
two hours of the workday you're out smoking exactly, Like
we have to have a conversation smoke break right.
Speaker 1 (23:04):
Well, now, it's one of the ADVENTU smokers had. Now
can they get a smoke break? I don't smoke. I
want a break.
Speaker 3 (23:08):
I think the other employees are like, wait, wait, hold on,
they're not two hours.
Speaker 2 (23:11):
I'm going to let this off too, right.
Speaker 3 (23:13):
So but again, so this has a wellness program tied
into it. But here's how it works. So what happens
is there's there's a wellness program and then there's a
second separate company that's an insurance company. And what they
basically do is every time an employee watches one of
these videos. They pay them an indemnity benefit each month.
And this indemnity benefits massive. So I'll give you a
(23:35):
number of that. We just helped one of the employees do.
Speaker 2 (23:37):
So.
Speaker 3 (23:38):
The Section one twenty five plan was able to reduce
this one employee's income by twenty grand a year. So
they went from sixty thousand to forty thousand. What does
that could do to his taxes?
Speaker 2 (23:48):
A lot less?
Speaker 1 (23:49):
Right?
Speaker 2 (23:49):
Right?
Speaker 3 (23:50):
So on paper, right, he was still making sixty grand
a year, but you were actually paying him forty grand
year and the insurance company attached to the Section one
twenty five was actually paying him twenty four.
Speaker 2 (23:59):
Grand year.
Speaker 1 (24:01):
Through the reimbursement.
Speaker 2 (24:02):
Through the reimbursement, that's right.
Speaker 1 (24:04):
So if the income of source just happens to come
from an insurance company as opposed to the employer.
Speaker 3 (24:09):
Yep, and guess what happens that check they get from
the insurance company.
Speaker 2 (24:13):
It's not taxable.
Speaker 1 (24:14):
Not taxable. I can't believe that even exists as a concept. Man.
Speaker 3 (24:19):
So here, every time they make a big, big, like
the big big beautiful bill, I look through it, because
see if it's affecting this sure hasn't.
Speaker 1 (24:26):
It has not touched that's because they haven't gotten wind
of what they've created.
Speaker 3 (24:30):
Well, that's that's but it's in the Obamacare plan, so
it's still in there. That's again, it's still there. Is
still works. But guys, the beauty behind this is is
twofold number one. If I can reduce your payroll tax, right,
that's going to help you massively. Imagine if I can
potentially take each of your employee, Let's say you have
fifty employees. If I reduce each of those fifty employees
(24:53):
by twenty grand a year, imagine the savings that you
have just by yourself on payroll tax. I'm talking over
thirty grand, maybe even fifty grand a year. Yeah, that's
what you're saving just on peril tax, just by signing
up for this program.
Speaker 1 (25:05):
Now, as far as you mentioned, it's not taxes income. Correct,
So when the employee is doing his or her tax
return at the end of the year, the reported income
is just the W two forty.
Speaker 2 (25:16):
Thousand instead of the sixty even.
Speaker 1 (25:17):
Though they're getting a check every month from the insurance company.
Speaker 3 (25:20):
Correct, this is a tax because it's a tax free benefit.
Just like we help all the other employees or all
the other individuals when I do other indemnity based health
insurance plans. Those checks that I talk about, Like your
son that got that check back, Yeah, he didn't file
on those taxes. It's not income. That's amazing because you
have to have a trigger, which is a health related event.
(25:40):
So watching these videos that is deal to stress management
or mental health is a health related event that this
plan pays for, and it pays you. That's I kid
you not, and it's not Those of you guys might
think this is like all that sounds too good be true.
I'm talking there's fortune five hundred companies doing this. I'm
talking about companies that have five six thousand employees are
rolling us out and saving millions of month, millions millions
(26:03):
a month on payroll tax. So why wouldn't you your
group do it too? Why wouldn't I mean, we did
it for our fifty employees. Why wouldn't we do that
for every company?
Speaker 1 (26:12):
Yeah? I guess getting over the initial hurdle of dealing
with your salary going down, at least as it comes
from your employer, a psychological hurdle that you have to
deal Well, here's the psychologue over that, and you realize
that no, these checks are would continue to come in
every month, and I don't have to report it his income.
It takes this thing.
Speaker 3 (26:28):
Out of the well here, here's the best part about
it is these companies actually pay put it right in
your check account. So instead of getting your checks, like
you can get your check once a week, whatever, you
get paid, right, you get your check. So what's gonna
happen that same day, You're gonna get a check for
your employer and a check for your depositing your account
for the insurance company. And well, here's the best part
about it. You're actually getting more every week than what
you're making before by doing this, right, you said, twenty
(26:50):
fourth week, yep, yep, So we're saving them. Yeah you
got this one got twenty four thousand year. Yeah, unreal.
But I'll take one big stab of this because this
is why it's also so important to do this. I
talked about the fact that you're losing tax credits right
because people's incomes are higher than what was allowable by
that four hundred percent FBL. By me reducing that income
(27:10):
to forty thousand, guess what that employee now is able
to qualify for the tax credit. The tax credit, and
he might he or she might be saving another three
or four hundred bucks a month on health insurance by
me being able to do it. So not only are
you saving money on your payroll, tax your employees making
more money every week, and his page and his actual
checking account, but I'm reducing the cost of their health
(27:31):
insurance in the sum of four or five grand a year.
There's no reason you shouldn't look at this option.
Speaker 1 (27:36):
That's truly amazing, truly amazing, and again I just am
blown away that it exists at all. Rarely does the
government program end up helping someone to the benefit anyhow,
I guess anything you want a way of concluding thoughts,
since we're running up against the clock.
Speaker 3 (27:54):
Get you guys. Guys listen. This is a very simple process.
You know, you can email, you can go on our website.
We have a complete employee free and census form. It's
a little bit intuitive, but it's really easy. I do
is hand out your employees, get it back to us.
We can set up a ten to fifteen minute consultation
that can go over with you, show you some really
good information. The process to get started is so minimal
(28:16):
of your time. But I'm talking about the fact that
I save employers. You or you're an employee, your employer, right,
I'm talking about tens of thousands, sometimes ten thousand dollars
a month, you know, on these type of things. And
that's a huge win in today's market with everything else
going up. If I can make your number two or
number three most expensive, think which is your health insurance?
(28:38):
Be your number five or six, like, that's a win
for me.
Speaker 1 (28:41):
This win allcross the board. This is why I always say, listen,
get in touch with John on the team. It's so
easy to do. Five one three eight hundred two two
five five five one three eight hundred call. This has
been another edition of Rethink Healthcare together with John Roman
from Cover Since you again cover Sency dot com
His Brian Thomas host to that You Bob Casey Morning
Show Monday through Friday five ninety am, but on Sundays
get the joy and pleasure of talking with John Rohman
and sometimes the team from Covert Sincey a better way
to get your medical coverage working with a broker who's
on your side of the table, sitting across the table,
hundreds of insurance companies, thousands of different insurance policies, and
(00:22):
a group of folks that are there to make sure
that you get the right coverage at the period of
time where you are in your life. Because everybody's different,
look at you individually. You're not just glomming onto one
big group thing. Your employer's offering to you and finding
better solutions for you so it covers the out of
pocket liability or reduces it significantly, can lower the premium
and fill the holes in the insurance bucket because not
(00:44):
everything's covered and John on the team work to ensure
that all the angles have been taken care of. There's
no cost or obligation fee to deal with the team.
Talk to them, let them looking to find out where
you are, find out if there's a better path for you.
One that could save you significant amount of money and
keep you out of a lot of the problems coming
our way as a consequence, some of the reforms you
(01:05):
may call them reforms. But last week we talked about
the impact of the one big Beautiful Bill and amazing
and profound and mostly bad news for folks that are
on the Obamacare policies and the big beautiful Bill. This
week we're going to talk about covering, you know, group coverage,
how it might be implicated, and some of the other
ripple effects that that one big beautiful bill and other
legislation might have. John Rohlman, Oh, let me give you
(01:28):
the number. It's eight hundred one our five one three,
eight hundred two two five five five one three eight
hundred two two five five. That's how to reach John
and the team at cover since he or fill the
format on the website coversincy dot com. That'll get the
process started. And again you don't have to pay for anything,
just let them do the work for you. John, Good
to see you again. Happy Sunday morning.
Speaker 2 (01:48):
You'd see Brian, good morning.
Speaker 1 (01:50):
Uh. Last week that was a real eye opener. Yeah,
that I had no idea of how widespread the implications
are under that one big beautiful bill for Obamacare and
health insurance generally speaking, So and folks on Medicaid out there,
they really really really should probably give you a shout
because things are going to get landscape on that's going
(02:10):
to change. It sounds to me like fewer people are
going to even consider Obamacare is a choice.
Speaker 3 (02:16):
I mean, when you're talking about five to six million
people being affected by it, I mean I would probably
say seventy eighty percent of those people are going to leave.
Speaker 1 (02:23):
And that's in connection with losing the tax credit.
Speaker 2 (02:25):
That's just tax credits.
Speaker 1 (02:26):
Yeah, and that's a huge I mean, that's a huge
I don't know how you want to approach it. Lost.
For a lot of people, they've been relying on the
tax credits in order to afford the monthly premium. Yeah,
that's gone. Out of pocket liability has gone up to
ten thousand dollars.
Speaker 3 (02:40):
The CSR is gone, the clast showing reduction, so all
those people that have the lower reductibles and co insurance
is gone. So even when you got the lower incomes,
you're not going to ten grand next year, you know.
Speaker 1 (02:49):
Yeah, far and widespread. And then one of the things
you briefly touched on last week, which I the hospitals
and funding for hospitals, which was a real sticky wicket
for the Republicans when they're negotiating this because rural hospitals
apparently are going to be broadly impacted by the uh
the changes under the law. But how does that carry
(03:10):
over into our discussion today with regards.
Speaker 3 (03:13):
Well, we'll think about it this way, and again, this
is new, right, we're just seeing it. Yeah, you know,
we don't know full implications. You know, everyone's always scared
and thinking that there's massive cutbacks. We don't all know
until toy bely what six months, a year or two later,
when really we see the full ramifications.
Speaker 1 (03:30):
They keep your popcorn out and wait for it. It'll unfold.
Speaker 3 (03:33):
You said it on the Yeah, But I mean that's
that's just so interesting, you know, because think about it
on this realm. You know, if if if a hospital
is starting to lose some money, what's the what's the
first thing they're going to start doing?
Speaker 1 (03:45):
Raising rates?
Speaker 2 (03:46):
Raise the rates? Right, sori is.
Speaker 1 (03:48):
Going to cost you nine thousand dollars or something.
Speaker 3 (03:51):
And I've seen this, by the way already now, so
maybe it's more than that. But you know, let's let's
really think about this in perspective, right, So if if healthcare,
if they're starting to lose money, they start raising rates, right,
Insurance companies not usually far behind, and they're gonna start
raising rates, right, And I think, you know, this is
gonna really and we're already starting to see the effect
(04:12):
on small business owners, right, We're already starting to see
the effect on those groups like under twenty five.
Speaker 2 (04:18):
Yeah, this is huge.
Speaker 3 (04:19):
I mean we talk about this in numerous shows where
even the group guys and I'm a group guy. I
do group insurance, right, I do individual coverage. I'm kind
of that anomaly that does both. Most group guys only
do group, right, most individual guys only do individual. So
when I look at this as a perspective, I talk
to a lot of people that are doing those markets
and you know, every single day like we do. And
(04:40):
you know, they're basically telling me, like, you know, if
it's a group under ten, we don't even care about them.
I can't tell you how many of your listeners have
called me just because their group guy, because they have
like fifteen employees, doesn't even want to pick.
Speaker 2 (04:51):
Up the phone anymore.
Speaker 1 (04:52):
On that's ridiculous.
Speaker 3 (04:53):
It is because number one, he's probably not making any
money off of it anymore because they're scaling back on
commissions to these guys. So he's looking for the bigger fish.
But I'm not giving him justification. We don't treat I
don't treat my one client with one policy with me
any different than the guy that has fifty employees with me. Right,
we treat them all the same. But that's that's they're here.
They're there as far as what's going to affect here.
(05:15):
But what we're going to really see is if the
group setting side is getting so bad right now, what's
going to start happening when these full ramifications of what
we just saw in this bill get passed healthcare starts
rising again. Now, rates are going to start going up
eventually here on the group side, even more than they
already have been. And I've already seen twenty thirty forty
(05:36):
percent increase on a small group side. So what if
it's more. At some point, you're going to be in
that complete situation where you're gonna have to turn to
your employees and go, hey, we can offer help insurance anymore?
Speaker 1 (05:47):
Right?
Speaker 3 (05:48):
You know this is now my number one, you know,
highest expense by expense.
Speaker 2 (05:52):
For my business.
Speaker 3 (05:54):
So it's about you know, this show today is about
really planning for the future and the things that you
can instill today to hedge off those huge increases or
potentially look at the alternatives to group insurance. Or if
you're sitting here listening and going, well, I thought about
doing group insurance. Now you're scaring me the hell and
(06:15):
I don't want to do this at all. Right, there's
still really good options for you that you that that's
not gonna break the bank, that might not be the
traditional group route. We've talked about this before and all
hit on some of the major things like like ikras,
like section one twenty five I plans. There's so many
different ways that we can really initiate good coverages now
because listen, at the end of the day, even as
an employer, a small business employer, I mean, we have
(06:37):
fifteen employees in my company. Now, you know, when I
look at that, it's like if I don't offer benefits, right,
I mean, how do I attract other people that I
need to come work with for me?
Speaker 2 (06:49):
Right? How do I maintain my employees?
Speaker 3 (06:52):
You know, if if someone else is gonna do what
I do, and you know, come around, Hey, we'll give
you the same rape, but we're gonna give you health insurance. Right,
They're gonna gonna probably want to go there.
Speaker 1 (07:01):
Right.
Speaker 3 (07:02):
But also I've seen this more on the on the
fact that most of my employees, I mean, yes, I'm
an insurance, so they know they have to have it.
I also provide it. But at the end of the day,
I look at the fact that we even when I
have conversation with some of my employees. Ago, John, I
probably wouldn't buy it if you didn't offer it, you know,
even though I know everything about it. It's just like
(07:23):
that's an expense that like I can't contemplate, you know.
Speaker 2 (07:26):
It's it's hard for a lot of things.
Speaker 1 (07:28):
They're healthy and they're never gonna get sick.
Speaker 3 (07:29):
Well, that and just sometimes the expense of health insurance
that go. If I was working for somebody else that
didn't offer benefits, I wouldn't buy it on my own.
I know that I need it to hear because I
work with you. I see the claims every day. It
scares me to death. But if I was working somewhere else,
I probably wouldn't have it. John because I you know,
most other places I worked that they wanted me to
pay three or Fourhuner bucks a month for health insurance.
I just know, way I'm doing that, you know, and naturally.
Speaker 1 (07:50):
If it comes along with a substantial out of pocket livebuility.
Speaker 3 (07:53):
Absolutely and the true cost of health care, right, I
mean the out of pocket expenses too. It's just so
many employees don't do that. So, you know, we're in
a really good market here in the Cincinnati region, right,
I mean, you know, I was just looking at job
postings for small businesses here to last month because we're
always look at that type of stuff. I mean, it's
up eighteen percent this year. It's a pretty big growth
in our area. A lot of people are looking. You know,
(08:14):
we had the COVID years and we couldn't even have waitresses.
Speaker 1 (08:17):
Right.
Speaker 3 (08:17):
The business are shotting next to me, don't. People are
looking to get out and getting jobs right now. And
guess what the number one thing search for when it
comes to be, it becomes the jobs benefits benefits. Right,
It's not just hourly people want benefits, you know, even
the younger people you know, coming off their parents group plans,
these these new generations they want health insurance. They know, listen,
they're healthier. It's even funnier because like my son will
(08:41):
be nineteen years is nineteen years old, and you know,
I remember being that age, and I started having conversations
I think because he's going to go to college, and
one of his grandparents start going, you know, hey, you're
going to be going to college and you're gonna go
to do a frat and go drink. He goes, I
have no interest in that.
Speaker 2 (08:56):
You know why.
Speaker 3 (08:56):
My son works out three or four times a week.
He eats healthy, doesn't need processed food like these This
generation coming through is way more health conscious than ever before.
I'm way better than my generation and probably yours.
Speaker 1 (09:09):
Oh yeah, well with that question.
Speaker 3 (09:11):
You know, but and you know he I mean, yes,
he's my son, but he talks to his friends and
I mean even his roommate, you know, and they're like,
they had a whole conversation about health insurance because where
the school he's going to actually has a health insurance.
Speaker 2 (09:22):
It's cool.
Speaker 1 (09:23):
Yeah, I mentioned that colleges offer.
Speaker 3 (09:25):
That, yeah, and that it's on mind. They're like, yeah,
we need to make sure we have proper health insurance.
I need to make sure I'm covered, I'm not gonna
go into financial debt. So this generation is very conscious.
So if you're wanting to attract that next generation of
twenty early twenty something's mid twenty somethings, I mean, you're
gonna have to offer benefits. And this is why it
is so important that you do that moving forward.
Speaker 1 (09:45):
Well, and you've helped some of my listener groups small
businesses come up with a better plan for their employees.
They find out the problem you just mentioned. Geez, it's
gotten really expensive per employee. I'm paut of pocket this
amount of money and it's gone up this year. And
so through working with you, and I always regularly defaulted
back to my friend Jeff, but his small business, you
(10:05):
improved his business's bottom line while getting employees better coverage
and some employees so otherwise wouldn't have bothered, like you
were just saying, to even buy coverage because of the
expense and the out of pocket liability. If you restructure it,
you can offer an attractive policy that is affordable that
they're gonna want to buy and then fully appreciate, and
then that buys you employee retention.
Speaker 3 (10:26):
I'm trying to remember, but I think it was one
of his employees, Jeff's. I don't think he actually had
health insurance with this original group plan. So when we
came in and helped their restructure what they were doing
and give them some alternatives and we and they went
with that. I remember one of his employees coming up.
He was like, Adam it like, no, no, I'm not doing anything.
Somebody comes in here every year and gives us this
big dog and shonepo and show and like basically just
(10:47):
shows us everything, and like, I'm just not gonna do it.
And once I said I'm down to really explain what
we were doing, he goes, yeah, I'm definitely gonna do this,
and hey, can you help my wife? Yeah, because you
just have all the injured to it. Absolutely, let's just
take a look at it. So it's you know, we
we do so such a good job at this, Brian,
because we really work with every single employee. It's not
me just working with you as an employer. I want
to take that off your plate, you know, I want
(11:08):
you to kind of initiate it, but ultimately, at the
end of the day, I'm going to work with each
of your employees to make sure that they have the
best care coverage you know, for their family, show you
how to produce those out of pocket expense and show
you to cut cost. I mean that's a big thing
because these traditional group options, you know, they're just they're
just gonna be so expensive. You know, I run into
them all the time, and you know, you're they're looking
at six seven, eight point fifty. I think I just
(11:29):
ran into one the other day. Was twelve hundred bucks
a month for each employee. They're just a small group,
you know, they had fourteen employees. One of them was
fairly sick. I'd gone through cancer like a couple of
years ago, and you know that rageous skyrocketed. Yeah'll do it,
and they go, John, can you find me another plan,
it's cheaper. I was like, I can't find you another
plan like what you have that's cheaper. We're gonna have
to do something a little different. And they were so
(11:51):
happy because we were able to not only reduce out
of pocket expenses, but I think I said them like
forty percent on the premium and got them better coverage.
So I mean, that's that's the reality of what we're doing.
But there's different techniques to really do that. And again, Listen,
you know, these are not gonna be issues that you're
gonna be dealing with where it's like, oh, well, John's
gonna come out with someone plan and you just start thinking,
(12:12):
running running through your mind, going it's gonna be some
plan that no one takes. Listen, we work with all
the local carriers, I mean in the Cincinnati We're working
with companies like Anthem. We're working with companies like Medical
and Mutual. We're working with carriers that you're your custom
to seeing, and also national carriers. We're working with, you know,
the hospital groups that we have like you see Health Mercy,
you know, you know christ I mean, we work with
(12:33):
these hospital groups all the time. I know which insurance
companies they take, how I know the doctors that are right.
So you know, we're gonna make sure that your plans
meet the needs for all of your employees. But now's
really the time to start thinking about it, because listen,
it's July. What's gonna be happening here in the next
few months. You're gonna start getting your new annual rate increases.
Speaker 2 (12:54):
But you're gonna have an.
Speaker 3 (12:54):
Open enrollment time, right, You're gonna start seeing those new raids.
So let's start the conversation now so we can.
Speaker 1 (12:59):
Get year it up for that and hit the ground running.
Speaker 3 (13:02):
Hit the ground running. That way we have a new
plan maybe by the end of the year. Everything's easy.
It's not like some of your listeners will call me
and go, John, I need a group plan next week.
Our rates are going up. I waited, I waited. Let's
start that process. I usually tell like, listen, forty five
to sixty days is what I really need to you know,
do the research, build a plan, educate you and your employees,
(13:23):
and get it all instilled. So that way when that
date hits, you know, we're not going, hey, the card
has been mailed three weeks. You know here in three weeks. Yeah,
I want to make sure you have them in your hand.
Speaker 1 (13:32):
I think it's fortant to stress. I mean, doubling down
on what you said just now, but you've said previously.
You know, most employers, I think of the small business
person sitting there behind his desk trying to keep all
the balls in the air to keep the business running.
You know, supply chains and and you know equipment needs
and whatever it is that you're doing with your business,
(13:53):
and you don't know Jack squad about medical insurance to
start with, but you're the guy or gal that's respond
us for bringing someone in the door to talk about it.
And again going back, you get one insurance company with
one set of options and all under the same umbrella,
the same insurance company, and very expensive. This is a
role that you do not need to take on. It's
(14:17):
like hiring a human resource expert in health insurance. John
and his team take over all of that for you.
They present the different proposals, they look at each of
your employees, they create packages of insurance designed to fit
the specific need to those employees, and they explain it all.
And then the other point is my favorite one, about
what you do down the road after you get insured.
(14:37):
Through John and the team, you guys will resolve insurance
claims problems. Because the idea is spending time on the
phone with an insurance company. It's like nails on the blackboard.
Speaker 2 (14:45):
Man.
Speaker 1 (14:46):
You know it's going to be an hour plus minimum
and you probably don't even know what you're talking about
when you get on the phone with them anyway, Like
what's this EOB, what's this number? I don't understand why
this was denied. So we had a group that we
be working for a while and everything's been doing really
well at the package that we gave them, and they
had one employee that had a pretty significant claim and
(15:08):
you kept providing the wrong documentation and whatever the reason,
the hospital wouldn't build a secondary so we stepped in
to handle it, and uh, you know, ended up just
you kept giving us the EOB from the insurance like
I can't use that.
Speaker 3 (15:20):
I need I need the one from the hospital that
actually shows the codes on That's how they're going to
pay the claim. Well, anyway, I guess it got back
to the owner at this point He's like, I haven't
had a problem with this is a be a problem
moving forward? They're not going to pay these claims, right.
We didn't look at another option was like, listen, I
will tell you this right now. I work with one
hundred insurance carriers. If you called me up today and
(15:40):
go John, which one doesn't don't you have problems with?
I would go, well, none of them. There's there's a
problem that always happens at some level. There is. But
I'm the problem solving business, right Like, I'm literally here
to help solve problems. So fast forward, Like it took
two weeks. But in two weeks I got them a
check for like almost five grand. So once we got involved,
(16:01):
two weeks later, you got I gotta check for five grand,
like the right paperwork for the paper, right paperwork, which again,
let's be honest, most people just don't understand.
Speaker 1 (16:09):
That's see, you know, throw me in that boat, man.
I mean, I having I was a lawyer for an
in medical insurance company. But a lot of the stuff's
like the peace of God. That's why I have my wife. Yeah,
you just her figure it out.
Speaker 2 (16:21):
Trust me.
Speaker 3 (16:21):
We all have our holes. And then it's great when
we found a stouse that doesn't so far.
Speaker 1 (16:24):
Amen, Amen, I'll cut the grass, you handle the insurance going.
Speaker 3 (16:28):
There you go, there you go. But I mean, it's
that's the reality. It's like, listen, if you're listening to
this right now, I'm thinking that this is gonna like ah,
I would love to do that. This is so busy
and I just don't have time to think about it. Like,
let's just start the process. We make it very easy
and smooth. I mean, most people that end up working
with us, they go, John, that was a lot easier
than I thought, because once you kind of dumbed it
(16:48):
down for me so that I can understand that I
didn't have to go back and tell my thirty employees
how to do it. Like literally, you handled it. You
met one one with them. They now completely understand and
he goes, you know what, I don't give They don't
talk to me about it anywhere. They have your customer
care line, the hot line that's for clients only. They
call that. Someone answers the phone. It's not some other
(17:10):
country that answers it. And you're dealing but you're literally
dealing with job. Yeah, you're literally dealing with someone from
our office. And we make a ticket and we get
it handled. And you know that's the beauty of working
with us is that we've built out that infrastructure to
help your employees.
Speaker 2 (17:24):
We're the ideal.
Speaker 3 (17:25):
Brokerage that can work with your business. I'm not a
one man show. There's no way to be able to
do groups. I get agents that work for me. I
have agents all over the United States that you know
are independent guys at just one man show, one woman show, right,
I tell them all the time, they go, John, you
do groups all the time. I'm like, you're not, because
you don't have the infrastructure. When you get a couple
of employees that can do it, then I feel comfortable
(17:48):
allowing you to do that because you're also representing me,
Like I can't have you go out there and help groups,
and you go out there and break up a forty
man group and help them, and then you can't answer
the phone because you're so busy as a one man shows.
I had to build business to be able to accommodate
this because I saw the need, and that's why we're
taking over the whole area. I mean, we help clients
in all fifty states on this, but I mean we've
(18:08):
helped so many people in the greater Cincinnati area do
this and they're all still clients.
Speaker 1 (18:13):
Yeah, retention of retention of clients is an obvious sign
that things are going really well.
Speaker 3 (18:20):
Absolutely, And if for five star rating doesn't help, well,
there's also.
Speaker 1 (18:24):
That to put your horn a little bit more genre.
Speaker 3 (18:27):
Well, you know, it's to me that that means the
most in the world. You know, at the end of
the day, it's you know, keeping your clients happy, you know.
And I learned in business a long time and I've
been doing this for twenty years. It is a lot
cheaper to keep a client than find a new one.
Speaker 1 (18:41):
Well, let's just run you randomly. Are you just rattled
off group help plans, the EKRA and POS.
Speaker 2 (18:47):
Yeah, we'll talk about that a little bit differ.
Speaker 3 (18:49):
So ekro is really good option, and I think is
going to be more highlighted here ever than before, because
I do feel like these costs are going to continue
to go up. So ikra is a really good option
for employers if you have over fifty employees. This is
something I mean even if you have a lot of
higher income employees, and again with losing these tax credits,
this might even really be helping a lot of the
(19:10):
smaller businesses too, including like my company. So ekraa is
basically a way that I can not provide an actual
traditional group health man. I can put money aside into
a health reimbursement account that then my employees can utilize
that money to buy their own health insurance, right, and
that still enables me as if I'm an employer with
(19:31):
fifty employees. That still enables me to get around the
penalties that I would have because if you're over fifty,
I get penalized not providing health insur exactly. And it's
a lot. You're talking four or five six grand per employee.
It's a lot of money it is to lose for nothing, right,
just a penalty. But a NICRO enables you to do that.
And then once you set that account up, I can
then go and help each of your employees get their
(19:53):
own plans and get reimbursed through.
Speaker 1 (19:55):
That, and they get their stiping through the ECRO fund
and then they buy the insurance through you.
Speaker 3 (19:59):
And yeah, and it's still right off of your business,
just like a health insurance plan would be. It just
gives you a lot more flexibility but also helps you
control costs. Right, You're not going to be sitting there
and going, oh, my health playing up forty percent this
year because we had somebody with a claim. No, let
me take those employees and put them with bigger groups
so that those rates don't raise forty percent a year.
Speaker 1 (20:18):
All right? What about the Section one twenty five wellness programs?
Speaker 3 (20:21):
This is huge, right, So we talked about the fact
that tax credits are going to go away for people
over four hundred percent fpl Right, Well, what if I
told you even for your employees that might make a
little over that or maybe make five hundred percent of
the FPL, right or maybe six hundred What if it's
a way I can take their income and bring it
back down to four hundred percent FPL and you're still
(20:41):
paying the same amount of money.
Speaker 1 (20:45):
I would say, I wouldn't want to take a salary cut.
No salary cut. Yeah, I know how you do this.
Speaker 3 (20:52):
Is so we talked about this, I don't know about
about a year ago here, and we helped quite a
few businesses to do it. And I'm bringing it back
up because is you know, some businesses do it. I
always recommend it, but I think this is going to
be more imperative right now, especially for those if you're
an employer group right now you're like, hey, you know
my employees make between like thirty to sixty grand a year, Right,
(21:14):
this really is something you should look at because what
this enables me to do this is a Section one
twenty five plan and a wellness program. So the first
point is wellness programs are really good for an employer anyway, right,
maintain the health of your employees, give them access to
things like telehealth. Right, we just talked about regional reductions
last week, about hospitals cutting back. Maybe we're gonna have
(21:36):
less doctors, they're gonna have access to, well, what happens
if somebody gets sick, they're gonna send them the urgent
care every time, or the emergency rooms. That's bad, right,
But telehealth is so huge. We talk about this all
the time, how good telehealth is. This is a company
company wide telehealth program that you can do, you know,
for you and all of your employees and enables them
to have instant access to health care anytime they need
to and it's free to use. Through that telehealth program,
(21:58):
they can tell a doctor eleven o'clock on a Tuesday night,
get their med first thing in the morning, and then
good work, not take a day off to go to
the doctor.
Speaker 2 (22:06):
Right.
Speaker 3 (22:07):
So that's really important. But here's the bigger kicker for you.
A section one twenty five plan allows me to enroll
this plan for your employees where all the premiums that
are attached to this plan are our pre tax dollars.
Speaker 2 (22:19):
Right.
Speaker 3 (22:20):
So pre tax is great for an employer, right because
if I can take out something pre tax from an employee,
guess what that helps me to do save money on
payroll tax exactly, absolutely, because I don't pay tax on
that on myself and they're not paying tax on it.
But here's the nice thing about these wellness programs. So
basically how these basically these work is the employees have
to watch a video once a month.
Speaker 1 (22:42):
I remember that, Yeah, wants of a video.
Speaker 3 (22:44):
Once a month, and it could be anything stretch management,
like how to better communicate in the office, right, smoking cessation?
Speaker 2 (22:52):
Right?
Speaker 3 (22:52):
I mean I have an employee one time that I
think smoked a pack of day and I literally started
looking at it and I'm like, I realized that like
two hours of the workday you're out smoking exactly, Like
we have to have a conversation smoke break right.
Speaker 1 (23:04):
Well, now, it's one of the ADVENTU smokers had. Now
can they get a smoke break? I don't smoke. I
want a break.
Speaker 3 (23:08):
I think the other employees are like, wait, wait, hold on,
they're not two hours.
Speaker 2 (23:11):
I'm going to let this off too, right.
Speaker 3 (23:13):
So but again, so this has a wellness program tied
into it. But here's how it works. So what happens
is there's there's a wellness program and then there's a
second separate company that's an insurance company. And what they
basically do is every time an employee watches one of
these videos. They pay them an indemnity benefit each month.
And this indemnity benefits massive. So I'll give you a
(23:35):
number of that. We just helped one of the employees do.
Speaker 2 (23:37):
So.
Speaker 3 (23:38):
The Section one twenty five plan was able to reduce
this one employee's income by twenty grand a year. So
they went from sixty thousand to forty thousand. What does
that could do to his taxes?
Speaker 2 (23:48):
A lot less?
Speaker 1 (23:49):
Right?
Speaker 2 (23:49):
Right?
Speaker 3 (23:50):
So on paper, right, he was still making sixty grand
a year, but you were actually paying him forty grand
year and the insurance company attached to the Section one
twenty five was actually paying him twenty four.
Speaker 2 (23:59):
Grand year.
Speaker 1 (24:01):
Through the reimbursement.
Speaker 2 (24:02):
Through the reimbursement, that's right.
Speaker 1 (24:04):
So if the income of source just happens to come
from an insurance company as opposed to the employer.
Speaker 3 (24:09):
Yep, and guess what happens that check they get from
the insurance company.
Speaker 2 (24:13):
It's not taxable.
Speaker 1 (24:14):
Not taxable. I can't believe that even exists as a concept. Man.
Speaker 3 (24:19):
So here, every time they make a big, big, like
the big big beautiful bill, I look through it, because
see if it's affecting this sure hasn't.
Speaker 1 (24:26):
It has not touched that's because they haven't gotten wind
of what they've created.
Speaker 3 (24:30):
Well, that's that's but it's in the Obamacare plan, so
it's still in there. That's again, it's still there. Is
still works. But guys, the beauty behind this is is
twofold number one. If I can reduce your payroll tax, right,
that's going to help you massively. Imagine if I can
potentially take each of your employee, Let's say you have
fifty employees. If I reduce each of those fifty employees
(24:53):
by twenty grand a year, imagine the savings that you
have just by yourself on payroll tax. I'm talking over
thirty grand, maybe even fifty grand a year. Yeah, that's
what you're saving just on peril tax, just by signing
up for this program.
Speaker 1 (25:05):
Now, as far as you mentioned, it's not taxes income. Correct,
So when the employee is doing his or her tax
return at the end of the year, the reported income
is just the W two forty.
Speaker 2 (25:16):
Thousand instead of the sixty even.
Speaker 1 (25:17):
Though they're getting a check every month from the insurance company.
Speaker 3 (25:20):
Correct, this is a tax because it's a tax free benefit.
Just like we help all the other employees or all
the other individuals when I do other indemnity based health
insurance plans. Those checks that I talk about, Like your
son that got that check back, Yeah, he didn't file
on those taxes. It's not income. That's amazing because you
have to have a trigger, which is a health related event.
(25:40):
So watching these videos that is deal to stress management
or mental health is a health related event that this
plan pays for, and it pays you. That's I kid
you not, and it's not Those of you guys might
think this is like all that sounds too good be true.
I'm talking there's fortune five hundred companies doing this. I'm
talking about companies that have five six thousand employees are
rolling us out and saving millions of month, millions millions
(26:03):
a month on payroll tax. So why wouldn't you your
group do it too? Why wouldn't I mean, we did
it for our fifty employees. Why wouldn't we do that
for every company?
Speaker 1 (26:12):
Yeah? I guess getting over the initial hurdle of dealing
with your salary going down, at least as it comes
from your employer, a psychological hurdle that you have to
deal Well, here's the psychologue over that, and you realize
that no, these checks are would continue to come in
every month, and I don't have to report it his income.
It takes this thing.
Speaker 3 (26:28):
Out of the well here, here's the best part about
it is these companies actually pay put it right in
your check account. So instead of getting your checks, like
you can get your check once a week, whatever, you
get paid, right, you get your check. So what's gonna
happen that same day, You're gonna get a check for
your employer and a check for your depositing your account
for the insurance company. And well, here's the best part
about it. You're actually getting more every week than what
you're making before by doing this, right, you said, twenty
(26:50):
fourth week, yep, yep, So we're saving them. Yeah you
got this one got twenty four thousand year. Yeah, unreal.
But I'll take one big stab of this because this
is why it's also so important to do this. I
talked about the fact that you're losing tax credits right
because people's incomes are higher than what was allowable by
that four hundred percent FBL. By me reducing that income
(27:10):
to forty thousand, guess what that employee now is able
to qualify for the tax credit. The tax credit, and
he might he or she might be saving another three
or four hundred bucks a month on health insurance by
me being able to do it. So not only are
you saving money on your payroll, tax your employees making
more money every week, and his page and his actual
checking account, but I'm reducing the cost of their health
(27:31):
insurance in the sum of four or five grand a year.
There's no reason you shouldn't look at this option.
Speaker 1 (27:36):
That's truly amazing, truly amazing, and again I just am
blown away that it exists at all. Rarely does the
government program end up helping someone to the benefit anyhow,
I guess anything you want a way of concluding thoughts,
since we're running up against the clock.
Speaker 3 (27:54):
Get you guys. Guys listen. This is a very simple process.
You know, you can email, you can go on our website.
We have a complete employee free and census form. It's
a little bit intuitive, but it's really easy. I do
is hand out your employees, get it back to us.
We can set up a ten to fifteen minute consultation
that can go over with you, show you some really
good information. The process to get started is so minimal
(28:16):
of your time. But I'm talking about the fact that
I save employers. You or you're an employee, your employer, right,
I'm talking about tens of thousands, sometimes ten thousand dollars
a month, you know, on these type of things. And
that's a huge win in today's market with everything else
going up. If I can make your number two or
number three most expensive, think which is your health insurance?
(28:38):
Be your number five or six, like, that's a win
for me.
Speaker 1 (28:41):
This win allcross the board. This is why I always say, listen,
get in touch with John on the team. It's so
easy to do. Five one three eight hundred two two
five five five one three eight hundred call. This has
been another edition of Rethink Healthcare together with John Roman
from Cover Since you again cover Sency dot com
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