Adam Torkildson
๐ค SpeakerAppearances Over Time
Podcast Appearances
The company I invested in, and I'm not going to say their name because... I don't want to sound promotional about this because, A, they're not the only company that can do this. Section 125 has been in existence for a long time. Lots of companies are aware of it. They just haven't done it yet. So this is just free information. Lots of health companies, insurance companies can do it.
The company I invested in, and I'm not going to say their name because... I don't want to sound promotional about this because, A, they're not the only company that can do this. Section 125 has been in existence for a long time. Lots of companies are aware of it. They just haven't done it yet. So this is just free information. Lots of health companies, insurance companies can do it.
The company I invested in, and I'm not going to say their name because... I don't want to sound promotional about this because, A, they're not the only company that can do this. Section 125 has been in existence for a long time. Lots of companies are aware of it. They just haven't done it yet. So this is just free information. Lots of health companies, insurance companies can do it.
And the process for implementing it, it takes You have to do something called a census. It's sort of a technical term in the insurance industry. But every HR person or every insurance broker knows what a census is. It's basically just a snapshot of all your employees, some of their personal identifiable information, and things like their age, weight, sex, etc.
And the process for implementing it, it takes You have to do something called a census. It's sort of a technical term in the insurance industry. But every HR person or every insurance broker knows what a census is. It's basically just a snapshot of all your employees, some of their personal identifiable information, and things like their age, weight, sex, etc.
And the process for implementing it, it takes You have to do something called a census. It's sort of a technical term in the insurance industry. But every HR person or every insurance broker knows what a census is. It's basically just a snapshot of all your employees, some of their personal identifiable information, and things like their age, weight, sex, etc.
You have to know that information if you're signing up for any insurance product of any kind. It's just the basic process. So we take that census, run it through the algorithms, and I've never seen anybody disqualified by doing that process. But that's basically the way they cover their butts. is take the census.
You have to know that information if you're signing up for any insurance product of any kind. It's just the basic process. So we take that census, run it through the algorithms, and I've never seen anybody disqualified by doing that process. But that's basically the way they cover their butts. is take the census.
You have to know that information if you're signing up for any insurance product of any kind. It's just the basic process. So we take that census, run it through the algorithms, and I've never seen anybody disqualified by doing that process. But that's basically the way they cover their butts. is take the census.
Once they've had that figured out, then it's just a matter of allowing the employees to choose whether they want to get on this new plan, which it's not going to change anything about what they currently have. It's going to have full vision, dental, doctor's visits, and there's going to be some preventive measures built into it as well. There's an app that actually scans their biometrics
Once they've had that figured out, then it's just a matter of allowing the employees to choose whether they want to get on this new plan, which it's not going to change anything about what they currently have. It's going to have full vision, dental, doctor's visits, and there's going to be some preventive measures built into it as well. There's an app that actually scans their biometrics
Once they've had that figured out, then it's just a matter of allowing the employees to choose whether they want to get on this new plan, which it's not going to change anything about what they currently have. It's going to have full vision, dental, doctor's visits, and there's going to be some preventive measures built into it as well. There's an app that actually scans their biometrics
And they check into it every month. So there's things that help them stay healthy, incentives built into it. This is the part that's not common to all the other insurance companies. And this is why I like investing in this particular company, because of that preventive wellness on it. And that's what allows them to do this plan with the same premium payments that they were making before.
And they check into it every month. So there's things that help them stay healthy, incentives built into it. This is the part that's not common to all the other insurance companies. And this is why I like investing in this particular company, because of that preventive wellness on it. And that's what allows them to do this plan with the same premium payments that they were making before.
And they check into it every month. So there's things that help them stay healthy, incentives built into it. This is the part that's not common to all the other insurance companies. And this is why I like investing in this particular company, because of that preventive wellness on it. And that's what allows them to do this plan with the same premium payments that they were making before.
And this is what is called a self-funded plan. health insurance plan so it's it is funded by the employees just if that wasn't super clear before it is a self-funded plan and other than that it works just like any other plan would that they're on and if if you're on a bad plan let's say
And this is what is called a self-funded plan. health insurance plan so it's it is funded by the employees just if that wasn't super clear before it is a self-funded plan and other than that it works just like any other plan would that they're on and if if you're on a bad plan let's say
And this is what is called a self-funded plan. health insurance plan so it's it is funded by the employees just if that wasn't super clear before it is a self-funded plan and other than that it works just like any other plan would that they're on and if if you're on a bad plan let's say
your plan has really high deductibles and there's no doctors that are in your network and all these caveats that insurance companies build in to make themselves profits. This is going to be something that you could probably look at and get way better plan benefits by just switching to that in general. Whether you did section 125 or not, it would actually be amazing. In those scenarios.
your plan has really high deductibles and there's no doctors that are in your network and all these caveats that insurance companies build in to make themselves profits. This is going to be something that you could probably look at and get way better plan benefits by just switching to that in general. Whether you did section 125 or not, it would actually be amazing. In those scenarios.