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

TIMESTAMPS

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

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

[09:21] Financial incentives and Stockholm syndrome

[16:13] Future of consolidations

[18:51] Treating patients as numbers

[24:48] Being swayed by incentives

[27:50] Motivation behind charitable acts

QUOTES

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

SOCIAL MEDIA LINKS

David Contorno

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

Emma Fox

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

WEBSITE

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

Emma Fox: https://emmamariefox.com/

Mixed & Edited by Next Day Podcast

info@nextdaypodcast.com

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

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

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

TIMESTAMPS

[02:20] How fully insured actually works

[06:45] Who is paying the claims

[09:27] What is level funding

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

[20:04] The common loss outcome

[22:38] Transparency in healthcare costs

[24:11] Advice for employers

QUOTES

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

SOCIAL MEDIA LINKS

David Contorno

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

Emma Fox

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

WEBSITE

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

Emma Fox: https://emmamariefox.com/

Mixed & Edited by Next Day Podcast

info@nextdaypodcast.com

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

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

QUOTES:

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

SOCIAL MEDIA LINKS

David Contorno

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

Emma Fox

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

WEBSITE

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

Emma Fox: https://emmamariefox.com/

Mixed & Edited by Next Day Podcast

info@nextdaypodcast.com