The Truth About Group Insurance: High-Cost Drugs, Tax Benefits & What Employers Need to Know
Control and Compound with Darren Mitchell · Control and Compound Financial | BNV Media
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Show Notes
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In this must-listen episode, Darren and Christina sit down with group insurance expert Pat McIver to unpack everything employers and employees need to know about group benefits. From the basics of coverage and cost-sharing to how high-cost medications like Ozempic and biologics are reshaping plans, this episode delivers practical insights you won't find in a brochure. Learn how to structure a tax-efficient benefits plan, why claims experience matters, and how the coming changes in pharmacare might impact your business. Whether you're managing a two-person team or a 100-person company, this conversation is packed with essential knowledge, tune in now!
Show notes:
00:00 - Introduction to Pat McIver
1:55 - Breaking down group benefits
7:30 - Is Ozempic and other new drugs covered?
12:30 - What types of claims will drive up the premium?
14:40 - Minimum number of employees needed to start a benefits plan
15:45 - Best practices from employer standpoint on long term disability coverage
18:40 - What is a health spending account?
22:15 - Tips for business owners on what to avoid and what they should be looking at
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