Ep 9: Captives, Reserves, and How CFOs Are Rethinking Health Plan Risk

Ep 9: Captives, Reserves, and How CFOs Are Rethinking Health Plan Risk

"Are we reserving appropriately? If we have a bad year next year, what's it going to cost the partners?" It's the question Richard Silberstein heard from a CEO at a coffee shop, and it's the same question CFOs of self-insured employers are asking across the country right now. In this episode of Benefits Redefined, Richard is joined again by Prabal Lakhanpal, National Practice Leader for Alternate Risk and Captives at Alera Group, to unpack how to actually answer it. They cover: →  How to evaluate whether your medical claims reserves are appropriate, using Monte Carlo simulation and confidence level analysis →  Why most auditors will not accept reserves above the 70-80% confidence threshold, and what that means for partnership tax planning →  The difference between being a buyer of insurance and a trader of insurance, and why captives change the math →  Why medical stop loss is priced like a 1-in-1 year event when the coverage is built for 1 in 5 →  How combining short tail risks like stop loss with long tail risks like workers comp creates a diversified, more stable portfolio →  The 500 employee, $2 million premium threshold where alternate risk strategies start to make sense →  How adding employee benefits to an existing property and casualty captive can drive admin cost efficiency straight to the bottom line →  Group captives as the solution for smaller employers who want access without the infrastructure build →  Where fiduciary duty intersects with captive strategy, and why CFOs and HR leaders should be in the same conversation Whether you're a CFO weighing alternate risk, an HR leader trying to bring enterprise thinking to your benefits strategy, or a benefits committee member wrestling with reserve adequacy, this conversation gives you a working framework. GUEST Prabal Lakhanpal, National Practice Leader, Alternate Risk and Captives, Alera Group | https://www.linkedin.com/in/praballakhanpal/ [https://www.linkedin.com/in/praballakhanpal/] Want to learn more? Connect with Richard via our website: www.benefitsredefined.com [http://www.benefitsredefined.com]  Subscribe to stay up to date with the latest episodes.

Ep 8: Understanding your Health Plan Score

Most CFOs believe their health plan is under control. They shop it every year. They have a trusted broker. Then they score the plan — and come back a 50 out of 100. Richard Silberstein talks with Tina Wilt, GBA — Charter Health Rosetta Advisor with nearly 30 years employer-side experience and the architect of a community-owned health plan — about the Plan Grader™, the 40-question assessment that scores employer health plans on a 0–100 scale. Tina explains what the score actually means, what separates a 50 from a 70, and why she has seen up to 40% savings between a legacy plan and a fully optimized one. We also cover direct primary care, the LOCAL framework, and what employers can do off-renewal to move the needle.   CHAPTERS 0:00 Intro 1:39 Meet Tina Wilt 2:50 Community-owned health plans 3:31 Direct primary care 5:10 What is Health Rosetta? 7:39 The Plan Grader™ 13:24 The question that surprises every CFO 17:23 The $1,200 vs. $3,000 MRI 18:37 What a 50 vs. 70 score is worth 21:15 Up to 40% savings — real-world examples 25:17 The LOCAL framework 30:16 Close   GUEST Tina Wilt, GBA — Alera Group | https://www.linkedin.com/in/tina-wilt-gba-64507612/ [https://www.linkedin.com/in/tina-wilt-gba-64507612/] LEARN MORE Health Rosetta: https://healthrosetta.org [https://healthrosetta.org] Connect with Richard: www.benefitsredefined.com

Ep 7: Why Wellbeing Strategy Is Becoming Business Strategy

Want to learn more? Connect with Richard via our website: https://www.benefitsredefined.com [https://www.benefitsredefined.com] PBM reform is gaining attention — but what does it actually change for employers? Wellbeing is evolving from a program to a strategic priority. Richard speaks with Gretchen Day about how organizations are rethinking workforce health. Connect with Gretchen: https://www.linkedin.com/in/gretchenday/

Ep 6: Captives: What Most Employers Get Wrong

Want to learn more? Connect with Richard via our website: https://www.benefitsredefined.com [https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqa0d5VVdDSFZuV2FPVHMxWjVpWG5BNGJRdEw3Z3xBQ3Jtc0trREFhczFfX3FiT21meTM2dFVnTy1weUlYaXJTVVZxYlBZZHlTX2ZxRFRtR0Z4TEJ2LThXanZSZklDQlIxM1pQbkNyU2ZRcnVNajRvNlNIT3hULW5PTEEtT3hNSjZpZ1lBR2QwV0JhVUFibi16N2l6UQ&q=https%3A%2F%2Fwww.benefitsredefined.com%2F&v=V1TJBsciLJY] Captives are gaining attention — but many employers misunderstand how they actually work. As interest grows, so does the need to separate common assumptions from real-world application. In this episode of Benefits, Redefined, Richard speaks with Don Balla about how captives fit into today’s market. You’ll learn: * Why captives are becoming more relevant * Common misconceptions employers have * How captives can support broader risk strategy * What to consider before moving forward Connect with Don: https://www.linkedin.com/in/donballa/ Subscribe to stay up to date with our latest episodes.

Ep 5: Rethinking Risk: Why Employers Are Moving Beyond Traditional Funding

Want to learn more? Connect with Richard via our website: https://www.benefitsredefined.com [https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqblpYVjU4V3BtTGgtRG9xVVE3cFVfYjhTdmo4QXxBQ3Jtc0trcDdPb2ZtMndJTXpBQnZPNm4zYU5tVXdtRWxnTnEwZHFfY242VlUySEc0NFBnZWtUdnQ2M3liVks2c0dIMWt4YUNTZkozT2pDYlpwb2xScDkzQndrRU1WdTBDdnNkd0p2dnRrZnJNVzJVMDRUdEZnSQ&q=https%3A%2F%2Fwww.benefitsredefined.com%2F&v=psqaPeyyaiU] Employee benefits are no longer just an HR expense — they are becoming one of the largest and fastest-growing line items on an organization’s P&L. In this episode of Benefits, Redefined, Richard Silberstein sits down with Prabal Lakhanpal, National Practice Leader of Alternative Risk and Captives, to explore how employers are rethinking the way they fund and manage healthcare risk. The conversation covers: * Why healthcare costs are rising at unsustainable levels * How captives work (in plain English) * The difference between underwriting income and investment income * Why captives are no longer just for large employers * How organizations are beginning to think about risk at an enterprise level * And what employers should consider when evaluating alternative funding strategies This episode is particularly relevant for CFOs, CHROs, and executives looking to better understand how to bring more control, transparency, and long-term strategy to their health plans. Subscribe to stay up to date with the latest episodes. Connect with Prabal: https://www.linkedin.com/in/praballakhanpal/