CEG Webinar Series, Part V: 3 Questions on COVID-19 for Kurt Jaeger & Tom Healy
CEG is hosting a free, six-part webinar series offering insight on the COVID-19 pandemic’s impact on business and how we can move past it. To familiarize you with the presenters and their unique perspectives on the crisis, CEG has asked them to respond to three questions.
Webinar 5: Alternative Healthcare Funding for Employers with 20 – 20,000 Employees. Bending Cost Curves Without Breaking Employees’ Backs
Tuesday, May 5 | 10:00 – 11:00am | Kurt Jaeger, RHU, ChHC, Executive Vice President & Chief Marketing Officer and Tom Healy, CSFS, Sr. Account Executive & Director of Product Development, Jaeger & Flynn Associates
Q1. How is the current crisis making employers consider alternative healthcare funding in ways they have not in past recessions?
- A. The financial pressure of shrinking revenue and objectives to maintain employment levels have increased employers’ curiosity to find creative ways to maximize expense savings. Alternative healthcare funding strategies can provide opportunities to reduce medical insurance costs in the short term as well as significant savings over a five- to 10-year time horizon. These strategies can increase an employer’s bottom line while maintaining the safety of a fully insured medical programs.
Q2. Will all employers likely need to adopt alternative healthcare funding methods, or only those hit hardest during the crisis?
- A. The attraction to alternative funding is not necessarily tied to unexpected events or a downturn in the economy. Instead, employers are drawn to alternative funding when they want to move away from a 12-month reaction to a medical carrier’s renewal increase to a strategic approach to the medical plan benefits and costs. They want to gain greater control of the components that make up the medical plan offered to employees.
Q3. Are there any new alternative healthcare funding options that were not available during the last recession?
- A. The concept of alternative medical funding existed back in 2009. However the market has evolved to offer products that mitigate the overall volatility of the concept while still being able to achieve the unchanged financial goals of expense savings.
About the CEG Webinar Series
The series runs from April 22 to May 6. Topics include supply chain (April 22), sales strategies (April 28), disaster and business continuity planning (April 29), strategic focus (April 30), alternative healthcare funding (May 5), and implicit bias (May 6). Participants include Mainfreight, Sandler Sales Training, Relay Integrated Logistics and Solutions, Stragility, Jaeger & Flynn Associates and Tangible Development. There is no cost to attend the CEG Webinar Series. Please RSVP for each webinar you are interested in attending. If you are unable to join, select webinars will be recorded and available on our website.
About Kurt W. Jaeger
Kurt is the Executive Vice President and Chief Marketing Officer at Jaeger & Flynn (JFA). Kurt joined JFA 22 years ago and is a licensed broker in New York for Life, Health and Property & Casualty insurance. He’s a Registered Health Underwriter (RHU) and Chartered Health Care Consultant (ChHC) through The American College and is a member of the National Association of Health Underwriters. Before becoming the “Jaeger” of Jaeger & Flynn, Kurt was an Independent Agent with Mutual of Omaha for three years and spent two years as the President of First Choice Insurance giving him over 27 years of experience in insurance and benefits. Over the years he has worked with various Insurance Carrier Boards and served as Vice Chairman of the Warren County EDC Board. Kurt has been the driver in building JFA’s Underwriting and Alternative Funding teams, and he oversees the entire sales team. He is passionate about finding “out-of-the-box” solutions and takes pride in finding ways to save our client’s money!
About Tom Healy
Tom is a Senior Account Executive and the Director of Product Development at Jaeger & Flynn (JFA). Tom joined JFA in 2016 after 27 years with The Guardian Life Insurance Company where he was the Regional Group Manager for the Albany area. During his tenure with Guardian, Tom earned the designation of Executive Sales Consultant with sales production in the top 20% of Guardian’s national distribution. Over the course of the past four years at JFA Tom has contributed to the development of JFA’s Underwriting and Alternative Funding Teams alongside Kurt Jaeger. Currently Tom manages Third Party Administer relationships and is continuously scouring the market for cost containment programs, testing their value and integration effectiveness with other aspects of the self-insured plan. Tom has a Bachelor’s degree in Sociology from U.Mass/Dartmouth, and in early in 2019, Tom completed the curriculum to earn the Certified Self-Funding Specialist (CSFS) designation issued by The Health Care Administrators Association (HCAA).