Anyone who’s ever been to Chicago knows – the best cure for the blues is the blues.
But as anyone who attended Roundstone’s Medical Captive Forum 2023 knows, the best cure for the healthcare blues is self-funded insurance with the Roundstone Captive.
Talk to employers. Talk to HR. Talk to employees. The problem couldn’t be more obvious. People are getting squeezed by skyrocketing healthcare premiums. America’s healthcare crisis is only getting worse.
Employers feel it when they get hit with 20% renewal increases year after year. HR feels frustrated as they struggle to offer attractive benefits to retain employees and attract top talent. Employees feel the pinch as the rising cost of insurance increasingly drains away their paychecks.
In the fully insured world, nobody’s happy – except maybe the traditional insurance companies reaping enormous profits off an exceptionally squeezed market.
Last week in Chicago, roughly 300 guests to MCF 2023 explored our innovative alternative solution that’s affordable and could actually improve the quality of care provided to employees: self-funded health insurance with Roundstone’s Group Medical Captive.
Our Mission: Affordable, High-Quality Healthcare for All
For our 8th annual MCF, we moved the event from Cleveland to Chicago because the enthusiasm for self-funded insurance continues to grow. Roundstone’s Group Medical Captive model enables small to midsize companies to take advantage of the affordability of the self-insurance model. You only pay what you deserve for the insurance you actually use.
The theme of this year’s MCF was Mission Possible. Providing high-quality, affordable care is truly possible through a self-insured solution with Roundstone’s Group Medical Captive.
We started the show off early on Wednesday with our annual Roundstone Advisory Council, a special meeting with our growth advisor partners. We were honored to meet with them and share updates on Roundstone developments, successes, and goals. Everyone joined various roundtables and discussed an eclectic range of issues happening in self-funded insurance. We capped the evening off with cocktails and dinner on a sunset cruise down the Chicago River.
Thursday afternoon began with lunch followed by our Captive Participant Meeting. Members of Roundstone’s Captive and their benefits advisors attended educational sessions about the importance of hiring a quality TPA, the savings of cost containment solutions, and tips to optimize your plan document.
Voices of Self-Funded Employers: The Benefits of Perspective
MCF officially kicked off early Thursday afternoon with the debut of a video we put together to celebrate the 20-year anniversary of Roundstone.
Then Roundstone’s Founder and President Mike Schroeder took the stage to welcome everyone.
“We call it SELF-Funding, but look around, you are not alone,” he said. “We’ve got organizations from around the country – 200 employers in 37 states! And we also welcome advisors that partner with us and their clients to improve the way they do benefits. And finally, we have solution providers here who have generously sponsored the event. These are the innovators, the companies that we rely on because they are all aligned with our values and goals.”
Next came one of our most popular sessions: Roundstone’s Employer Panel. “Voices of Self-Funded Employers: Insights, Tips, and Lessons Learned” featured Francine Campos, Vice-President and Chief HR at the National Roofing Company, and Lisa Durkin, Vice-President of Human Resources at the Cleveland Orchestra. They were joined by their benefits advisors Peter Freska, Partner/Adivosr of the LBL Group/Acisure and Jennifer Bolyos, CEO of HPA Benefits Counseling.
The panel shared their journey into the world of self-insurance, the savings benefits and quality advantages of Roundstone’s self-funding model, and tips they learned along the way.
Thursday’s afternoon sessions were capped off by our keynote: Jon Petz, a best-selling author, motivational business speaker, and magician. Through jokes, magic, and inspirational words, he helped MCF attendees better appreciate the value they deliver through their own daily contributions to make the world a better place.
From making $100 bills disappear through sleight of hand tricks to balancing Roundstonians mid-air like musical chairs in a feat of physics, his humor and eye-popping magic left many wondering, “How did he do that?” followed by “Do that again!” Jon Petz’s inspirational message and innovative approach resonated with the crowd.
Drums, Beats, and Satisfaction with Self-funding
The Chicago Bears Drumline started the morning off with a bang of “booty-shaking” beats that kicked the day into high gear. They brought NFL football stadium energy that inspired the crowd with impromptu dancing and cheers for the home team.
That energy continued through the morning with the mainstage fireside chat, “The Benefits of Good Benefits – How Self-Funding Impacts Employee Satisfaction.” The panel featured Jim Fox, Head of Human Resources at Family Resource Center, and Meg Mayhugh, Founder and Managing Partner at People Architects. These highly experienced HR professionals shared how health benefits play a critical role in shaping company culture, improving employee retention, and attracting top talent – and how self-funding with a captive improves quality at a price employers can afford.
Fox shared how fully insured can feel like a perpetual roller coaster – except it feels like you’re going down that first hill all the time in a race to the bottom. But with self-insured, his company hasn’t had to raise premiums the entire time he’s been there. And they saved $525,000 in their first year.
Mayhugh explained that from the employees’ perspective, self-insurance really doesn’t feel any different from fully insured – most of her employees aren’t even aware they are self-insured. They just get great benefits at a lower cost.
Self-Insurance 101: Education in Action
One of the most valuable aspects of MCF is its connected kinship of shared intellectual curiosity. We hosted a variety of breakout sessions to help participants make the most of their self-funding experience and provide the best quality benefits to their employees.
Sessions included:
- Captive Financial Management: Where Does the Money Go? – a closer look at how the captive works from a financial perspective and best practices for employee contribution budgeting.
- How to Impact Your Plan Cost: Cost Containment & Claims Processing – a guide to making the most of your cost containment program to improve the savings and quality of a self-funded plan.
- Understanding Renewals – an outline of the Roundstone renewal process to help you understand, prepare and make the most of your next renewal through an easy and efficient process.
- How the Captive Works: Self-funding 101 – a walk-through of the basic fundamentals of self-funded insurance on the group captive model.
A Better Life Through Self-Funded Insurance
Former NFL star Steve Gleason delivered closing remarks in a personalized video. A former safety with the New Orleans Saints of the NFL, Gleason is famous for his block of a punt early in the team’s first home game after Hurricane Katrina. The game became an inspirational symbol for New Orleans’ recovery.
12 years ago, Gleason was diagnosed with ALS just before discovering he would become a father. Since then, he has strived to “live impossible” and has survived 9 years past the 3-years doctors originally said he’d live. He shared that with an appreciation of loved ones and gratitude for the things we have, we can truly achieve the Mission Possible of happiness and a better life.
The mission of providing employees a better life through better benefits truly is possible through a self-funded model. Through self-insurance, employers can have the courage to make a difference in the families of their employees through quality, affordable healthcare.
If America’s healthcare crisis gives you the blues, self-insurance is the answer. This year in Chicago, MCF attendees learned there is an affordable, innovative solution to better benefits and a better life through self-funded health insurance.
That mission is possible when we decide to step off the hamster wheel of escalating insurance premiums and embrace the savings of self-insurance on a group captive model.
Thanks to all who attended our MCF 2023 event. It was truly a memorable experience. Together, we are helping to make healthcare affordable to all.
Stay tuned for main-stage MCF sessions on demand.
