Self-Funded with Spencer

Here's a real-world case study that showcases the power of employers taking control of their pharmacy spend: This employer was facing a 35% renewal, mostly due to the high cost of Hemlibra for one employee with hemophilia. Their fully-insured PBM priced Hemlibra at a staggering $2.3 million a year. We connected this employer to SmithRx, who were able to source the exact same drug for $850,000. That's an immediate cost savings of $1.45 million every year. Through patient assistance programs, if the patient qualifies, they could even potentially get the drug for ZERO out of pocket to the patient and the plan. This case study wouldn't have happened if the employer stayed fully-insured, because, due to a lack of transparency, they wouldn't have access to the data on their pharmacy spend. Huge thank you to 🎙Spencer Smith, CSFS® for joining me to help bring this case study to you. Please let me know your thoughts in the comments below, and share this post if you found it educational. #healthcare #advocacy #pbms #pbm #insurance #pharmacybenefits #hemlibra #hemophilia #selffunded #fullyinsured #captive #smithrx #pharmacyspend #employerbenefits #benefits

Donovan Ryckis shares a case study where a 65+ year old was spending 80% of his income on insurance. This story is all too common, and it highlights the need for stronger insurance education and outreach, so that people clearly understand their options. Nobody should be stuck paying exorbitant premiums for insurance when they don't need to, especially when it hurts them and their company so negatively. We talked a lot about accountability and transparency in this week's episode of Self-Funded with Spencer, with Chelsea Ryckis and Donovan Ryckis, available now on Apple Podcasts, YouTube, and Spotify. #InsuranceConsulting #Fiduciary #Ethos #documentary #producing #filmmaking #movie #film #ClientRetention #CompensationStructure #EmployeeRetention #Compensation #Transparency #EmployeeBenefits #fixinghealthcare #podcast #benefits #health #healthcare #healthinsurance #selffunded #selffunding

"It's Not Personal, It's Healthcare" causes one of two reactions in people: Anger or curiosity As Chelsea Ryckis shares in the clip below, both are powerful emotions that drive change. Anger drives the public to demand a better system, and curiosity drives companies to start asking why their benefits work the way they do. If you haven't seen the documentary yet, I highly encourage you to watch it and see which emotion it causes in you. Check out the full episode of Self-Funded with Spencer with Chelsea Ryckis and Donovan Ryckis on YouTube, Spotify, and Apple Podcasts. #InsuranceConsulting #Fiduciary #Ethos #documentary #producing #filmmaking #movie #film #ClientRetention #CompensationStructure #EmployeeRetention #Compensation #Transparency #EmployeeBenefits #fixinghealthcare #podcast #benefits #health #healthcare #healthinsurance #selffunded #selffunding

My next guests on Self-Funded with Spencer are Chelsea Ryckis and Donovan Ryckis, co-founders of Ethos Benefits! They came on to discuss the unique origins of Ethos, conducting benefits business the right way, and what it's like to be a married couple running an agency together. Chelsea was recently voted "Advisor of the Year" for 2024 by BenefitsPRO, and together they also helped co-produce the hit healthcare documentary, "It's Not Personal, It's Just Healthcare". This episode drops, Tuesday, 1/14/25 on #spotify #applepodcasts and #youtube, starting at 4 am central. Make sure to follow 👉🎙Spencer Smith, CSFS® 👈 for more content like this. #healthcare #agency #owner #broker #consultant #advisor #employeebenefits #selffunding

To those who say that AI will eliminate the need for in-person sales: I disagree. I believe AI will actually increase the value of in-person interactions. As AI-powered sales agents become more common, real human communication will only become more important to people. Sure, I may be biased, but there's still nothing like shaking the hand of your customer, looking them eye-to-eye, and showing that you actually care about their business. And if they're used to dealing with virtual calls with an artificial being, those in-person meetings become so much more impactful. What do you think the future of sales will look like? Let me know in the comments below. #sales #ai #generativeai #salesai #future #technology #relationshipbuilding #inpersonsales

Binu Samuel's mission is to save money for both employers and employees. She joined me for the first episode of Self-Funded with Spencer of 2025 to discuss how we lower healthcare costs for self-funded employers. Thank you to our 2025 sponsors! ParetoHealth ClaimDOC Nomi Health Vālenz® Health In today's newsletter: - Links to Spotify, Apple, YouTube - Embedded YouTube video - Links directly to Chapters - Quotes from the Show +++ More! #ValueBasedCare #PatientExperience #network #Employers #CancerTreatment #CostSavings #ProactiveCare #WarrantySystem #HealthcareInnovation #QualityCare #TransparentHealthcare #fixinghealthcare #podcast #benefits #health #healthcare #healthinsurance #selffunded #selffunding

Part 2 of my Stop Loss Contract Basis Debate is here. Can't wait for the discussion on this one!

We're back to our regularly-scheduled programming! This week, the Self-Funded with Spencer podcast features Binu Samuel of Carrum Health. Binu joined me on the show to discuss how Carrum connects forward-thinking self-funded employers to top quality healthcare providers using their comprehensive bundled payment solution. This helps employers reduce their costs and employees get access to top quality providers at zero out-of-pocket to them. Carrum also reduces the administrative burden to physicians so they can focus on delivering care, rather than chasing insurance reimbursement. This episode is the first episode of 2025, so make sure to listen closely for new sponsors! If you haven't already follow 🎙Spencer Smith, CSFS® 👈for more content like this. Episode drops at 4 am central on 1/7 on #spotify #applepodcasts and #youtube #bundled #payment #surgery #healthcare #savings #centersofexcellence #selffunding

Happy New Year! This week, I'm sharing a talk I recently gave about getting started with social media. Whether you’re new to the industry or you’ve been in it for decades, it’s never too late to start a social presence, and I share some practical tips on how to get started. In today's newsletter: - Links to Spotify, Apple, YouTube - Embedded YouTube video - Links directly to Chapters - Quotes from the Show +++ More! #SocialMediaSales #socialmedia #linkedin #brandbuilding #Engagement #Podcasting #content #networking #ContentCreation #Authenticity #Consistency #VirtualNetworking #podcast #benefits #health #healthcare #healthinsurance #selffunded #selffunding

We can't ever forget that the choices we make impact human lives. We're their access to care. Matt Glaros and Megan Glaros joined me this week for a podcast discussion focused on how we can use content to inform employees and the general public how our healthcare system works. In many cases, providing that education can save people financial trouble, and even get them to access care they didn't know they could. Check out the full episode of Self-Funded with Spencer on YouTube, Spotify, and Apple Podcasts. #EffectiveCommunication #Communication #Meteorology #TVIndustry #EmployeeBenefits #Storytelling #AI #AIHealthcare #healthcaretech #healthtech #Employer #Education #CareNavigation #podcast #benefits #health #healthcare #healthinsurance #selffunded #selffunding