The Business of Benefits Podcast

80. Built Different: The Ethos Story w/ Chelsea Ryckis & Donovan Ryckis

The benefits industry is broken. $37,824. That's the average cost of a family of four on an employer-sponsored health plan in 2026 and it's growing at 9% a year. So how did we get here, and what does it actually look like to fight back? In this episode, host Austin Townend sits down with Chelsea Ryckis (President) and Donovan Ryckis (CEO) of Ethos Benefits for the origin story nobody asked for but everyone needs to hear. From Donovan's background as a fiduciary securities advisor who saw the same conflicts in healthcare and couldn't look away, to Chelsea getting hit in the head with a softball and learning the hard way that you can run but you can't hide from medical debt... this is the story of how Ethos was built different on purpose. Take the next step in your career. Start your CEBS journey today at CEBS.org. https://bit.ly/48k4aeZ What You'll Learn Why Donovan left a lucrative securities career to fix a bigger problem in healthcare Chelsea's personal experience with medical debt and how it shaped the Ethos mission The real definition of fiduciary — and the three things it actually requires Why there is zero fiduciary standard in insurance (and what that means for you) The $37,824 number every employer needs to hear A claim is a dollar, not a condition — and why that distinction changes everything The four things you can do with healthcare risk: reduce, avoid, retain, or transfer Why brokers go straight to the transfer (and how that lines their pockets) How to vet whether your advisor is actually living the fiduciary standard — not just marketing it Where the industry is headed over the next five years, including PBM legislation and litigation at  Connect with Chelsea Ryckis: LinkedIn: https://www.linkedin.com/in/chelsea-ryckis-8508a192/ Connect with Donovan Ryckis: LinkedIn: https://www.linkedin.com/in/donovanryckis/ Connect with Austin Townend: LinkedIn: https://www.linkedin.com/in/austintownend/ Connect with Ethos Benefits: LinkedIn: https://www.linkedin.com/company/ethosbenefits/ Website: https://www.ethosbenefits.com — Finished with the content? Claim your CE credit here: https://ideas.ethosbenefits.com/continuing-education SHRM: Ethos Benefits is recognized by SHRM to offer professional development credits (PDCs) for SHRM-CP® or SHRM-SCP® recertification activities. HRCI: Ethos Benefits is approved to offer HRCI® recertification credits for this program. This program has been approved for 0.5 - 1 HR (General) recertification credit(s) toward aPHR®, PHR®, SPHR®, and GPHR® certification. #EmployeeBenefits #HealthcareCosts #FiduciaryDuty #BusinessOfBenefits #EthosBenefits #HRLeadership #GroupHealthInsurance #BenefitsStrategy #HealthcarePlanning #PBM #ERISA #HealthBenefits #EmployerHealthcare #BenefitsBroker #OpenEnrollment #HealthcareCostContainment #SelfFundedHealthPlan #HRPodcast #BenefitsPodcast #PlanSponsor

79. Stop Ignoring Women's Health Benefits w/ Brittany George

In this episode, host Chelsea Ryckis sits down with Brittany George( insurance industry veteran, founder of Her Consulting, and author of A Tale of Two Births) to pull back the curtain on maternal healthcare in America. Brittany brings a rare perspective: 17 years in health insurance, time at Fountain Health, and two profoundly different birth experiences that changed everything she thought she knew about the system she worked in. They cover the cascade of interventions most women don't know they're signing up for, why the incentives inside hospitals are misaligned against patients, what fentanyl has to do with labor and delivery, and — critically — what self-funded employers can do RIGHT NOW to support the women on their plans. What You'll Learn - Why 70% of women get an epidural containing fentanyl — and most aren't told - How a C-section can cost a health plan $80,000–$100,000+ vs. $4,000–$7,000 for a vaginal birth - Why doula coverage is the single highest-impact benefit employers can add today - The downstream health risks for dependents born via C-section — and what that means for your plan - How the birth center vs. hospital vs. home birth decision affects both outcomes AND claims - Why women at every stage — postpartum, perimenopausal, infertile — are being underserved by traditional benefits - What "A Tale of Two Births" taught Brittany about asking better questions in any healthcare setting Connect with Chelsea Ryckis: LinkedIn: https://www.linkedin.com/in/chelsearyckis Website: https://www.ethosbenefits.com Connect with Brittany George: LinkedIn: https://www.linkedin.com/in/brittanyspaziano/ Website: https://ataleoftwobirths.com/ Connect with Ethos Benefits: LinkedIn: https://www.linkedin.com/company/ethos-benefits YouTube: https://www.youtube.com/@ethosbenefits Instagram: https://www.instagram.com/ethosbenefits Website: https://www.ethosbenefits.com The Business of Benefits Podcast: Subscribe wherever you listen to podcasts: Apple, Spotify, or your favorite podcast app. Ethos Benefits is a fee-only, fiduciary benefits consulting firm. We don't take commissions. We don't represent carriers. We represent you. — Finished with the content? Claim your CE credit here: https://ideas.ethosbenefits.com/continuing-education SHRM: Ethos Benefits is recognized by SHRM to offer professional development credits (PDCs) for SHRM-CP® or SHRM-SCP® recertification activities. HRCI: Ethos Benefits is approved to offer HRCI® recertification credits for this program. This program has been approved for 0.5 - 1 HR (General) recertification credit(s) toward aPHR®, PHR®, SPHR®, and GPHR® certification.

78. The Real ROI of Mental Health Benefits

What if making mental health care completely free for your employees actually lowered your total plan costs? In this solo episode, host Chelsea Ryckis breaks down one of the most compelling case studies in Ethos Benefits' history, a manufacturing company with 350–380 employees that eliminated every financial barrier to mental health care. Zero copays. Zero deductibles. Unlimited sessions. Open network. No prior authorization. The result? 12% utilization (vs. a 4% national benchmark), 594 claims, an average of 14 sessions per member — and a total cost of just $7 per employee per month. Meanwhile, traditional plans with restrictions are benchmarking at $14–$17 PEPM for mental health. Chelsea also covers the Mental Health Parity and Addiction Equity Act (MHPAEA), updated in 2024, and walks plan sponsors through the compliance pitfalls she sees most often — from restrictive prior authorizations to narrow behavioral health networks to inconsistent NQTLs. This episode is for HR leaders, CFOs, and plan sponsors who are tired of designing benefits around fear of cost — and ready to see what happens when you design around actual employee needs. What you'll learn: Why EAPs alone are not enough (only 4% of employees actually use them) The real cost of untreated mental health: 23% more absenteeism and 3x higher healthcare costs What a zero-barrier mental health plan design actually looks like How 594 claims over 2.7 years cost just $129 per claim on average The MHPAEA compliance pitfalls plan sponsors overlook — including NQTLs and network adequacy Why the cultural component of mental health support matters as much as the plan design How to audit your current plan for mental health parity compliance. Connect with Chelsea Ryckis: LinkedIn: https://www.linkedin.com/in/chelsearyckis Website: https://www.ethosbenefits.com Connect with Ethos Benefits: LinkedIn: https://www.linkedin.com/company/ethos-benefits YouTube: https://www.youtube.com/@ethosbenefits Instagram: https://www.instagram.com/ethosbenefits Website: https://www.ethosbenefits.com The Business of Benefits Podcast: Subscribe wherever you listen to podcasts: Apple, Spotify, or your favorite podcast app. Ethos Benefits is a fee-only, fiduciary benefits consulting firm. We don't take commissions. We don't represent carriers. We represent you. Learn about CEBS! In a field as complex as employee benefits and retirement, experience alone isn’t always enough. Credibility matters. That’s why professionals turn to CEBS—the Certified Employee Benefit Specialist designation. Developed in partnership with the Wharton School of the University of Pennsylvania and the International Foundation of Employee Benefit Plans, CEBS delivers comprehensive expertise across both group and retirement benefits—equipping you to lead with confidence and authority. Set yourself apart with a designation that speaks for itself. Start your CEBS journey at CEBS.org.  https://bit.ly/48k4aeZ — Finished with the content? Claim your CE credit here: https://ideas.ethosbenefits.com/continuing-education SHRM: Ethos Benefits is recognized by SHRM to offer professional development credits (PDCs) for SHRM-CP® or SHRM-SCP® recertification activities. HRCI: Ethos Benefits is approved to offer HRCI® recertification credits for this program. This program has been approved for 0.5 - 1 HR (General) recertification credit(s) toward aPHR®, PHR®, SPHR®, and GPHR® certification.

77. A Candid Look at Health Benefits, Compliance, and the State of the Industry

In this special episode of The Business of Benefits, host Austin Townend flips the script and interviews our very own President and Co-Founder, Chelsea Ryckis. Together, they break down exactly what employers need to know about healthcare compliance, vendor accountability, and controlling costs heading into 2026. We cover the massive compliance shifts from the last 12 months—including the CAA of 2026 and FTC scrutiny on PBMs—and why these changes are the ultimate leverage for plan sponsors. Chelsea unpacks why Direct Primary Care (DPC) combined with HSAs is a game-changer, why ICHRAs are just a bandaid for healthcare inflation, and how to spot the red flags in your broker and PBM contracts. Plus, learn how to stop accepting the bare minimum from your vendors and start demanding true fiduciary alignment. What you’ll learn * How recent compliance changes (like the CAA of 2026) give employers unprecedented leverage over their health plans * Why the traditional high-deductible health plan (HDHP) is failing low-wage earners, and how Direct Primary Care (DPC) actually reduces claims * The hidden dangers of ICHRAs and why they don't solve the root cause of healthcare inflation * How to identify "red flags" with your PBMs and brokers, including spread pricing and refusing compensation disclosures * Why vendor accountability requires more than just a "nice account manager"—and how to use KPIs and scorecards to evaluate them * The truth about big company purchasing power: why 10,000+ employee companies are often paying more than mid-market competitors Connect with Us Chelsea Ryckis on LinkedIn:  https://www.linkedin.com/in/chelsea-ryckis-8508a192 Austin Townend on LinkedIn: https://www.linkedin.com/in/austin-townend-619520103 Ethos Benefits: https://ethosbenefits.com/ The Business of Benefits Podcast: https://businessofbenefitspodcast.com/ ____ Finished with the content? Claim your CE credit here: https://ideas.ethosbenefits.com/continuing-education SHRM: Ethos Benefits is recognized by SHRM to offer professional development credits (PDCs) for SHRM-CP® or SHRM-SCP® recertification activities. HRCI: Ethos Benefits is approved to offer HRCI® recertification credits for this program. This program has been approved for 0.5 - 1 HR (General) recertification credit(s) toward aPHR®, PHR®, SPHR®, and GPHR® certification.

76. The Doctor Who Cut the Middleman Out of Imaging w/ Cristin Dickerson

In this episode of The Business of Benefits, host Chelsea Ryckis sits down with Dr. Cristin Dickerson, founder of Green Imaging, to uncover the power of direct contracting for employer-sponsored health plans. They dive deep into how getting the "middleman" out of the equation can save plan sponsors up to 60% on medical imaging while actually improving the quality of care for employees. We cover how direct contracting works in practice, why traditional insurance models artificially inflate imaging costs, and how Green Imaging is flipping the script by providing transparent, cash-pay rates. Dr. Dickerson explains the HIPAA Omnibus Law that makes this possible, how to build a zero-out-of-pocket benefit that employees actually use, and the real-world savings employers are seeing. Chelsea and Dr. Dickerson also discuss the future of direct primary care, navigating hospital pushback, and why every employer has a fiduciary duty to explore these solutions. What you’ll learn • What direct contracting is and how it eliminates the middlemen driving up healthcare costs • Why there is an inverse correlation between cost and quality in the U.S. healthcare system • How the HIPAA Omnibus Law protects employers and employees when carving out imaging benefits • The exact process for members using Green Imaging, from text-based scheduling to receiving care • How plan sponsors can structure their benefits to incentivize zero-out-of-pocket imaging • The challenges of navigating the "down the hall" mentality and how to educate employees • Why direct contracting for imaging and direct primary care are the easiest first steps for employers Connect with the Speakers: Cristin Dickerson:  LinkedIn: https://www.linkedin.com/in/cristin-dickerson-md-a1a1b013/ Green Imaging: https://greenimaging.net/ Chelsea Ryckis:  LinkedIn: https://www.linkedin.com/in/chelsea-ryckis-8508a192/ Ethos Benefits: https://ethosbenefits.com/ Finished with the content? Claim your CE credit here: https://ideas.ethosbenefits.com/continuing-education SHRM: Ethos Benefits is recognized by SHRM to offer professional development credits (PDCs) for SHRM-CP® or SHRM-SCP® recertification activities. HRCI: Ethos Benefits is approved to offer HRCI® recertification credits for this program. This program has been approved for 0.5 - 1 HR (General) recertification credit(s) toward aPHR®, PHR®, SPHR®, and GPHR® certification.