Reducing the Healthcare Spend: Obstacles, Opportunities, and the ROI of Self Insurance
Discussion Moderator: Timothy Teen
Panelists: Jeff Bernhard | Ted Hobart | Tom Doran
The present U.S. healthcare system is not broken, but in its current form it is obsolete. Join subject matter experts from Trendline, Continental Benefits, MRM, a subsidiary of Symetra – A Berkshire Hathaway Company, as they share insights on the pros and cons of self-insurance, from employee plan design to claims management to the financial impact of captives, and more.
Tim is a successful entrepreneur with over 25 years of experience in start-up operations, strategic planning, corporate/business development and marketing in technology-based businesses. He has increased revenue, improved profits and led firms from start-up through transition and change. Tim has a practical approach to translating competencies into competitive advantages and brand identities. Tim founded Blue Ocean Capital Partners to address the delivery of a unique investment, consulting and advisory model. He is the principal architect behind the creation and structure of the firm and leads a multi-disciplinary team to deliver the Blue Ocean value proposition. He manages the firm’s external strategic relationships, client satisfaction, and overall corporate development.
Prior to Blue Ocean, Tim was the founding CEO of InSitech, Inc., a government services firm, in 2004. InSitech sources and evaluates technology companies that are of interest to the US Military. His leadership has grown InSitech into an integral driver in the Government’s transformation strategy for the DoD, counting the Army, Navy and Marines as clients. By leveraging military assets into commercial relevance, Tim has helped to increase the military’s technology base, converting InSitech into an economic engine by providing access to engineers, laboratories and equipment.
He also represented the U.S. Army in the creation of the Picatinny Applied Research Campus, one of the largest Enhanced Use Leases consummated. Tim is the Founder and Investment Committee member of Chart Venture Partners, a $100 million investment fund focused on early stage technology companies. As the original architect behind CVP’s strategy, he has approved all of CVP’s investments in their 14 company portfolio. Tim adds value to portfolio companies by providing them with access to his network, as well as making various strategic and Board level contributions.
Before joining InSitech, Tim worked in a boutique investment banking firm where he analyzed technology to determine its market potential and assisted clients with their corporate strategy and business development. Also, as the Divisional CEO of an international high-tech corporation, Tim led cross functional teams in the commercialization of a diverse patent portfolio.
Tim is the recipient of the Secretary of the Army Public Service Award – one of the highest civilian honors given. He was also honored by having a flag flown by the Multi-National Corps- Iraq to recognize the personal service provided to our Soldiers and his support for their families. Tim has a history of (1) Identifying market opportunities; (2) Creating value for all stakeholders and partners; and (3) Delivering on aggressive objectives. This pedigree, proven track record and proven leadership will serve Tim well in his role as Chairman & CEO of The Trendline Management Group.
About Trendline Management Group
TMG believes the healthcare system is not broken, it’s obsolete. TMG works with consultants, brokers and TPAs to create sustainable, cost-effective benefits programs. We do this by bringing to bear our own analytics and expertise in risk management and structured finance to create differentiated and proprietary content and solutions in collaboration with our strategic partners. We deliver best-in-class solutions among insurance products, plan design, and related services to Plan Sponsors to address current and future benefits challenges.
TMG focuses on our client’s situation, census and objectives to customize solutions that are carrier-agnostic and will work with any existing or new MCO, ASO, TPA, health care or network provider, etc. We seek to provide clients with many benefits including the ability to have a budgeted premium for 12 – 36 months that could even generate a reserve on a tax-free basis. In some cases the reserve can even be guaranteed.
TMG’s ability to quantify healthcare costs assist public entities and Taft Hartley sponsors in the negotiation of labor contracts. Since our analysis will move healthcare from a projected or unknown cost to a quantifiable, budgeted cost this will allow both labor and municipal entities to negotiate with the full knowledge of what their mutual healthcare costs will be on an ongoing basis, to the benefit of both parties.
Additionally, in the face of the ominous legislative risk brought on by the Patient Protection and Affordability Care Act (PPACA), the strategy can insulate clients by assisting them in the conversion from a Fully Insured plan to a Self Insured plan on a risk controlled basis unlike any other strategy. This will assist clients in avoiding certain taxes brought on by PPACA such as the Premium Tax levied by the Act. By securing rates today, an organization insulates itself from rate increase in the future which could be an additional consequence of PPACA.
Trendline Management Group has a diversified and experienced management team experienced in the financial, insurance and risk management arena.
Trendline Management Group
Chief Financial Officer
Ted has over 15 years of private equity and venture capital investment experience across a range of investment strategies. As a Managing Director at InSitech, Ted was a member of the founding team of Chart Venture Partners and has served as a Partner since the fund’s inception. At CVP, Ted focuses his investment efforts in materials technologies, communications, and power and energy within the broader context of CVP’s focus on dual-use technologies. He currently represents CVP on the Boards of Nextreme Thermal Solutions (materials, power and energy), Twisted Pair Solutions (communications), and IntegriCo Composites (materials).
Prior to Chart, Ted was a Principal and Managing Director with The Carlyle Group, primarily with the US Venture group based in Washington, DC and San Francisco, CA, focusing on growth equity and multistage venture investments. At Carlyle, Ted focused his efforts in communications, materials, security and industrial technologies, and led Carlyle’s investment in StrionAir, an advanced air filtration technology company.
Before Carlyle, Ted was a Partner with 4C Ventures, an early stage venture group emphasizing the global application of new technologies. He led investments in numerous companies across the spectrum of networking, communications, and financial services. Prior to 4C, Ted was a Principal with Paul Capital Partners, a leading secondary private equity investor, where he led the acquisition of several corporate venture portfolios and other direct investment holdings from investors in the US and Europe, with primary emphasis on information technology and healthcare. One of the key transactions he led was sponsoring the spinout of the corporate venture team from Italian IT giant Olivetti, which became 4C Ventures as an independent entity.
Ted holds a B.A. in economics from Williams College and an MBA from Stanford University. In 2012, Mr. Hobart along with other principals launched Trendline Management Group.
Under Jeff’s leadership, Continental Benefits is demonstrating to employers how the confluence of health care innovation, savings, creativity and superior customer service can be provided through one company. In fact, we are laser focused on redefining the industry standard for what employers, and other entities that offer coverage, should always expect.
Before joining Continental Benefits, Jeff spent 20 years at Aetna, where he held numerous senior leadership roles during his tenure. Most recently, he was Senior Vice President, responsible for the Public Sector and Labor Union markets in two-thirds of the United States. Jeff’s main focus at Aetna centered on providing innovative healthcare and benefit solution for his clients.
Jeff is an active participant in many national leadership groups focused on innovative delivery models, health care reform strategies, total cost management and more effective methods to bend the medical trend curve. Jeff is heavily involved in community activities, sitting on several boards, and is responsible for creating community gardens in many underserved areas in America.
Jeff graduated from Shippensburg University with a BSBA in Business Marketing. He has an MBA from University of Phoenix in Scottsdale, Arizona. He currently lives in Houston, Texas, with his wife of 14 years and their two daughters.
About Continential Benefits
Continental Benefits is a Sustainable Health Plan (SHP) and Third Party Administrator (TPA), focused on creating real, sustainable change to improve health care for all of the constituents we serve. We strive to change the way you’ve traditionally interacted with TPAs, and health carriers, by providing a higher level of service, concierge support, and a partnership that ensures we continually exceed your expectations.
Continental Benefits isn’t just a third party benefits administrator. We are an agent of transformation; creating real, sustainable change in the health care and benefits industry.
When you partner with Continental Benefits, you should expect:
- A partner who listens to your needs to create custom benefits solutions designed just for you.
- A partner who advocates for access to the appropriate, quality care and removes excess cost from the system.
- A partner who administers your plan, manages data, and provides services to deliver flat year-over-year trend.
- A partner who provides transparent, real-time information to help you, and your employees, make the best possible health care decisions.
Learn more about Continental Benefits, the first truly transformative health solutions company that is redefining the world of Third Party Administrators (TPAs).
Tom is the President of Medical Risk Managers and is responsible for day to day operations and profit and loss. Tom has been with MRM since April 2010.
Prior to joining MRM , he was a Senior Actuary at Aetna Inc for 8 years. His role included pricing, reserving and oversight of stop loss. Tom was also instrumental in the development of Aetna Signature Administrators (ASA). ASA was a new business initiative that allowed TPAs to access the Aetna PPO and stop loss products.
Tom has conducted seminars and workshops on stop loss for the Society of Actuaries and participated in the most recent large claims workgroup.
Tom is a Fellow of the Society of Actuaries (1996) and a Member of the American Academy of Actuaries (1995)
Prior to joining Aetna, Tom was an AVP at Hartford Life for 6 years. His responsibilities there included the financial oversight of the $250 M in stop loss premium. Tom had responsibility for underwriting, actuarial and aggregate claims.
Prior to Hartford Life, Tom was a consultant at Hewitt Associates for 6 years. He worked in many facets of employee benefits for Fortune 500 firms, focusing primarily of health and disability.
Right out of college, Tom worked as an Aerospace Engineer for Grumman Aerospace on Bethpage NY. Tom is a graduate of Princeton University with a Mechanical and Aerospace engineering degree and currently resides in Simsbury CT.
About Medical Risk Managers
Medical Risk Managers (MRM) is a full service Managing General Underwriting and Consulting firm specializing in Group Stop Loss insurance. Our mission is to provide reliable protection against excessive medical claims. We accomplish this through the use of innovative products, customized services to fit your specific insurance needs, and through extensive network evaluation and consulting. We realize that achieving success in the rapidly evolving world of health care requires insight, knowledge, and the ability to adapt to constantly changing market conditions.
In an age where cost savings are important MRM is leading the way by offering flexible contract provisions, claims control, and precise managed care network evaluations. We remain steadfast in our commitment to acquire the knowledge and expertise necessary to keep pace with the many transformations this business will face.
Our clients can rest assured knowing that they put their trust in a company with a reputation as one of the top Managing General Underwriting and Consulting firms in the Stop Loss business. At MRM, it is not enough to have satisfied clients. We strive to make our clients successful partners.