Episode 84: Company Insurance and Profits with Jeffrey Ingalls

Hey, Jeffrey, get a little closer. Push. Push the phone a little closer to your ears here.

How about now? Now. Much better.

There you go. Shut up. We're about to start our show. Be a good guest and stay in your cage.

Wow, look at the way he treats guests. This is the Profit first podcast, everyone.

And you are listening to the. What they call this masochism, episode 84. Yes. Oh.

Oh, man. Now there's a reason for grunting.

Wow. Is that the right words of masochism? Ah, sure, when you, like, abuse people. I don't even know.

Oh, my God.

I think so.

Welcome to the show, everyone. I'm Chris Curran. I'm the founder of Fractal Recording.

And I'm Mike Michalowicz. I'm jacked up. I'm whipping our guests back into their cages. And I'm also the author of Profit First. I'm joined in studio by my colleague.

Hello again, Christina Bolta.

And you are listening to Profit First Podcast, where we study all elements of profitability from a few weeks back, where we're discussing how to be a badass to last week, how to make money in a podcasting environment. Today we're going to talk about insurance. I mean, it truly is the alpha and omega of profit studies.

There it is.

That's right. And revenue is wonderful. We love it. Making sales, wonderful. But at the end of the day, it's about the profit. Thank you.

Exactly. That was nice. Man, your espanol is so good.

There you go. So you can find our show in itunes and stitcher and tunein radio and of course, any podcatcher which you use to catch podcasts, and of course the website profitfirstpodcast.com all of our previous episodes, and a lot of cool stuff on the website. And I mean, God, this is episode 84. Can you imagine?

Episode 84? Episode 84. And we still don't have the damn thing down. I forgot to do the shout out, like two weeks in a row now. Yeah, you didn't even say yeah. It's just. It's still a train wreck. Think a fun train wreck.

Think on the website. The library of profitable pearls of wisdom. It's ridiculous, Mike.

Dude, emails do come in constantly of a wall here. Christine set up people listening to the podcast saying, I implemented this, or I heard a story of someone that was just like my story and it made me feel more confident. I love that kind of feedback. It's working. It's working. Finally working.

Barry, have you seen some of these letters?

Yeah. Oh, yeah.

Yeah.

So, Christine, have You seen these letters? Oh, hell no.

Oh, geez, Chris.

What you been up to, bro?

Oh, man, just. It's springtime here in Colorado Springs and it's. We moved here last September. We've been here about seven months. So this is our first spring. And you know what? The weather is strange. It'll be sunny in the morning and then all of a sudden it'll get dark and snow and like, like blizzard and like 4 or 5 inches and then it'll get sunny again and it. It's pretty cool.

Dude, you're going to want to kill me. I was out your way like two weeks ago. I was in, in Georgetown, Colorado. Do you know where that is?

I looked it up, cuz you were posting on Facebook. I saw that you were here.

Was I near you?

No, not really. No.

Oh, thank God. Cuz I kind of. Yeah, I blew in blue. I should really visit Chris, but I'm like, I don't even know how close I am.

No, I wasn't that close. But Colorado is awesome. Come see the mountains.

Yeah. So dude, me, my daughter, as you know, Christina got accepted into Virginia Tech and it's like a week of exhilaration saying she got into a college she wanted. We visited college. It's. It really is a great program for what she's looking to study. We're all excited. And then you start getting the here's what's due. And then like, oh my God. Even though like I've been preparing, I've been Saving in the 529. Not even close. Not even ready.

I mean, is there like a special pro, a special account in the profit first philosophy that you could set up for your kids college?

Oh, hell no. There should be. So it's funny, my wife came to me, she's like, Mike, you got to write a book on the profit first lifestyle now. Like how to reserve for college and stuff. Because every book I write, it's when I catch myself shorthanded. I. I wrote Private first because I was never profitable before. Yeah, I wrote the Pumpkin Plan because I had no idea how to grow a business. I wrote the White Paper Entrepreneur because I struggled so hard and didn't know how to get by when I had nothing. So all these books come out because I'm studying like how to do it for myself and I'm like, I'll write a book about it because then I.

Have to live it right.

Well, here's my next thing. I just got my ass handed to me.

Maybe you can help with student loans too. That's True. It's crazy. I mean, I must Pay maybe almost $500 a month in student loans and I just feel like the interest is not going down. Like the numbers never go down.

Never goes down.

No matter how much I.

$500 a month.

Crazy.

Yeah.

For like the next 85 years.

That's exactly for the rest of my life. I sold my soul to Sally.

Man, that's a lot of money.

Yeah.

I mean my. Actually my wife and I drove out past our first apartment. We used to live in Hackettstown, New Jersey. 450 bucks. Now this was back in 96, 95, but $450, you could get a one bedroom adequate apartment.

That's unheard of.

Now maybe not nowadays.

I'd be like, what's wrong with it? Someone dies?

What's your apartment? What's your rent cost?

Currently it's 1300amonth. My, my older one, that was just a one bedroom apartment. It was 875, which is actually cheap for.

Yeah.

New Jersey.

Yeah. That 500 would help for that though.

Yeah, I know.

Well, talking about helping with our finances, we have a very special guest coming on today and his name is Jeffrey Ingalls. Now, not from the House on the Prairie family. Yeah. Because he was already getting. He's like. That's how you pronounce it. But don't mention it. So that's why I thought. Okay to mention. Of course I'm going to tell you what he does with Stratford Financial Group in just a second and why you're going to want to hear him. But first I want to thank our corporate partners.

Yes. Which are. No, not your average corporate partners. Of a podcast show. May we be clear on that?

Oh, hell no. No, they are not your average. They are not your average sponsors. These are folks that. That believe in the profitability businesses, believe that they have an appropriate solution. And I can guarantee. Not guarantee, but I feel they do because we use all their stuff.

We do.

Right. So nextiva. Which is voiceover. IP receipt, bank fundbox. Who am I forgetting? T sheets and fundera. So I really should write these down.

I have them right here.

Oh, oh, okay. So we'll use that.

You know them all, you love them all, you party with them. Ron loves the parties with T sheets.

Oh my God. Ron loves to booze with them. We're going out for a trip at Scaling New Heights is coming up. But by the way. Yeah. If you want, it's in the Bahamas. I'm speaking out there. Main stage.

Yeah.

Which is nice because that means all your Expenses are paid, but Ron will be boozing it up in the Bahamas. My goal is to come back here with Ron. That's my hope.

Oh, yeah, yeah. Get him back.

All right, well, enough about us. Let's talk about our guest coming on today. He is the president, el presidente, of the Stratford Financial Group and Stratford Employer Services. His name is Jeffrey Ingalls. And specifically they provide employee benefits, you know, health insurance, disability insurance, all these things that you're required to have. My question, though, Jeffrey, was how do you do it profitably? Well, he's got the answers for you. And he doesn't have the answers just on this show. He's been on Cranes, msn. He's been an entrepreneur magazine, Forbes, Money, the Bergen Record, Star Ledger, which is big here in Jersey websites, you name it, he's been there. I was gonna say something. I should have said he's been there. Jeffrey, welcome to the show.

Welcome. Thank you for having me. Appreciate it.

So awesome that you're here. I can't wait to get into this.

Yeah.

So I'm number 84. I'm the Randy Moss of the podcast.

Whoa. Someone knows his numbers.

Hashtag preparation, right?

Dude, if our show ever becomes really big, Mike, we should send each guest a football jersey with their number on it. That'd be cool.

Oh, that would be awesome.

I don't see a reason to wait on that. I think we should get that going right now.

Well, I have been to Stratford Financial, and you guys do have your own uniforms over there. Your, your partner, Dan Ritter supplied, like, baseball hats and stuff like that.

This is true. I think he secretly wants to be in the garment industry.

No wonder you guys are struggling. So, so what are the core benefits that a business needs to consider?

Well, most businesses, I mean, the paramount would be their, their healthcare plan. That's probably the biggest ticket item, probably one of their normal, their largest expenses behind payroll. So that would probably top the list, Mike.

And when do you need a health care plan? I mean, does every business have to offer that?

Not every business has to offer a health insurance plan. Of course. It's, you know, a retention tool and an attractive tool to, you know, recruit talent. But in today's stage of healthcare reform, employers over 50 lives or over what they call FTEs or full time equivalent employees, they all need to offer a health insurance plan or else, you know, they'll be subject to the employer mandate penalties. So there's some unique solutions in there, you know, for companies that are providing some and for those companies that are over 50 and are like, whoa, we don't have a health insurance plan. What do we do? What are the alternatives to just flat out paying a fine? What can we do that's still within our wheelhouse, that's still within our budget, so to speak.

Okay, so if I have over 50 employees, I am required by law to, to offer health insurance or there's a penalty if I'm under 50. Is it optional or is there some requirements?

No requirements, it's optional. I mean, there's, there are some requirements on the type of coverage that you offer when you do offer it, but no employer mandate, no penalty for not offering it.

Okay, now can you do it? Partially. Like a lot of the folks listening into the show, Jeffrey, own their own business. May they have two or three employees. The owner of the business wants to insure himself, but maybe he doesn't have the funds to insure employees. But I don't think you legally can do that.

No, I mean, you do have to offer it to everyone. There are some participation requirements considered. There's a few things that make it easier for folks both in the small employer marketplace, which typically these days is still those with under 50 employees. And then there's some unique alternatives for those over 50 employees. So if you don't have health insurance and you're looking to do it, looking to implement a plan, but you're like, look, I don't have the budget to pay for everybody. I don't have the budget to make a major contribution for everyone. Not everybody's going to take it. So, you know, how am I supposed to do this and still meet all these crazy participation requirements that the insurance companies are going to thrust upon me? So there's a couple of solutions. In the small employer marketplace, if you're under 50 lives, what they allow you to do as an employer is if you apply between November 15th and December 15th for a January 1st effective date, you can have yourself a small employer health insurance plan without any regard to employer contribution and without any regard to employee participation. So if you got a, if you're a 30 life business and you want a plan, but you've never been able to do it, or you've never been able to afford it, this is a way that you can offer a plan with a very minimal employer contribution or even no employer contribution, and still get a plan for January 1st. Conversely, in the large employer marketplace, in the 50 plus marketplace, there's an aspect of healthcare reform that's not often talked about because maybe it's not as sexy as some of the other attributes of healthcare reform. But there's something called the guaranteed availability provision, which basically says if you're over 50 lives and you want a health insurance plan, insurance companies have to quote you one. So you have to be able to get one. So they'll give you a quote. It may not be the best quote in the world, but they have to give you a quote and they have to allow you to implement a group health insurance plan, again, regardless of employee participation.

Okay, but that's only over 50 employees.

Yes.

Okay, so let's focus the post folks listening in. I would say 90% of our folks listening in are under 50 employees. The 10% that have over 50 employees are drunk right now and accidentally listening in question for them.

Are employees the same as lives? You keep saying lives.

Yes. Yeah. No, there's, there's a lot of, there's a lot of terms in health insurance and only health insurance people use that are very hard to shut off. Clearly, given, you know, my previous answer, I am evidence of such, but lives and employees are synonymous terms.

Okay, thank you.

Okay, so if I have under 50 employees, if I take action between November 15 and December 15, I can get a plan that's. I didn't understand. It's less expensive or a plan that offers more flexibility. What was.

So you can get the same plans that anybody else would buy at any point during the course of the year. However, during every other effective date for the year, you're going to be required to meet a participation requirement, meaning that the insurance company, say Aetna in the example, is going to say, all right, you're a small employer, you have less than 50 employees. We're going to give you a health insurance plan. But we need 75% participation, meaning 75% of your eligible employees need to participate in this plan or be covered somewhere. What that precludes is there's a lot of employers out there that maybe have 30, 35 employees, and based upon the wages of the employees and the contribution they would be asked to pay to participate in the health insurance plan, a lot of people wouldn't be able to afford it or wouldn't want it, and therefore they'd be left with three out of 30 people that want the health insurance. And any other time during the year, they wouldn't be able to implement a plan. However, between 11:15 and 12:15, if they apply, they can get a plan January 1st, regardless of how many people participate.

That's interesting. So, I mean, it's a timing game now, but do, do. Can employers use that saying, I'm just not in a position to offer benefits to anyone. But I need them for myself. Can an employer take action during that period even though they would have had maybe 100% participation from employees?

Yeah. I mean, what they could do in that same scenario, they can take, they can take advantage of that same time frame, just not offer an employer contribution. So if somebody wants to join, they're paying the full premium. So same end result.

Gotcha. Gotcha. So how do you structure. Because health insurance is so important, everyone needs it, some employers can't afford it. How does a small business, what's the general approach you take to ensuring that they're properly protected, but also that they're doing it in a profitable way?

I mean, what they need to do is see if they can purchase a health insurance plan. I mean, the age old approach to this was let me buy the best coverage I could possibly find at the least expensive price.

Right.

And that's kind of gone out the window because people have gotten much smarter about this purchase, so they kind of abandoned that philosophy. And now people are more along the approach of let me buy the most appropriate coverage at the most appropriate price. Meaning that a lot of people are smart enough to now say, all right, look, when I'm looking at the health insurance equation, what I should really be looking at is what's the premium plus my likely out of pocket under that plan. So even if I use the health insurance plan a lot, maybe I'm on a lot of prescription drugs, maybe I have this issue or that issue that generates, you know, X dollars in claims per year. When I really look at the equation, the equation is now what's the premium from the employer standpoint? What's the premium plus the likely out of pocket under a health insurance plan? And that's my total equation. And I should be examining that total equation versus another total equation to choose between carrier A and carrier B. Because I may not want the best plan, I may want a less expensive plan. Because when I take into account the out of pocket I'm likely to have, that's the overall lowest price, therefore protecting my profitability.

And do you consider every single employee? And let's, we can use our own business as an example here. There's six of us here that work at the office, which is basically like a Chinese sweatshop. We're packed into my basement here. That's already the first problem. But, but there's six of us here. Two of the women are pregnant, two guys. The two guys are middle aged. We actually, Michael's a Younger guy. So we have a mix of kind of needs going on. Some people starting families, my children, I have the oldest children. How do you measure what's most appropriate for a company?

When you talk about small employers and their health insurance equation, typically what you find is really the example that you just gave, right? So there's probably out of those six people, there's probably one or two that don't use the plan very much at all. You know, especially the younger males, right. They'll basically go to a veterinarian before they go to an actual doctor.

Right.

Postpone things as long as humanly possible before they seek medical care.

Right.

Then you have, you know, the more appropriate users, maybe, maybe the women that are pregnant in your example that are obviously going to have some claims and then you probably have one or two people that are in the middle, right? They may have a good year, they might have a bad year and they may swing the pendulum back and forth. So that's generally the makeup of most small employers. Most small employers have that same mix. So what you're going to look for and what a lot of the smaller employers have historically done is look for creative ways to not take anything away from the people that need it the most, but not overpay for the people that need it the least. Meaning that what you could do is, you know, instead of buying a typical health insurance plan where I go to the doctor and say I pay $20 copay and I'm paying co pays for my prescription drugs and maybe the hospital cost me a little bit more, what a lot of small employers have historically done is they've gone to what's called a high deductible health plan, right? When this is a sort of health plan that was meant to be linked up with an HSA or health savings account, right? And the biggest thing about these health insurance plans is they're a little bit cheaper, if not a lot cheaper, but they have a deductible upfront, meaning that anything and everything other than preventive care is going to go towards this deductible up front. Now you're probably thinking, alright, the two people are going to use the plan a lot. They don't want this kind of plan, they don't want to have to pay a big deductible. They're the people using it. So what employers have done is they've taken that premium savings from using that sort of plan and they reinvest it in what's called an HRA or a health reimbursement arrangement, which is Basically a way of them saying, all right, you know what, we're taking you a plan, taking you from a plan that has no deductible, and now we're adding a deductible of, let's say, $2,500 per person. But you know what, we're going to fund that deductible for you. So if you have a charge that goes towards your deductible, right. We'll set up through a TPA or a third party administrator, what's called an HRA or Health Reimbursement Arrangement, and we'll reimburse your deductible. And what ends up happening almost ridiculously stereotypically is that 45 to 55% of the benefits, people will use all of the deductible and the rest will use none. Meaning that you've now reinvested, taken your premium savings, reinvested it, but you only pay that money out when the people actually have a claim. So everybody's got a high level of benefit. But I'm not overpaying for it, not just blindly giving my money and giving my profits away to Blue Cross and Aetna and Cigna and Humana and all the different health insurance carriers that are out there struggling to purchase the best possible plan I can at the lowest possible price.

So in that scenario, if you save by doing a high deductible in monthly premiums for easy numbers, you save $1,000 over a year, you save $12,000 and you can anticipate, you said almost stereotypically, 45% will actually be used. So you're not saving 12,000, you're saving 6,000 or 7,000, but it's still a serious savings, serious savings.

And you're not taking anything away from the people that need it the most.

Gotcha. What's the other insurance that you work with, but also other insurance small business needs to consider to properly be functioning and doing what they need to do.

You know, a lot of small employers sometimes overlook disability coverage, right? So group disability coverage, I mean short term disability coverage is something that's mandated, but only in six out of the 50 states. But a lot of small employers overlook long term disability coverage because they think they can't afford it. And when I say long term disability coverage, I'm talking about somebody who's been out on a disability for 90 plus days typically or 180 plus days, and they have no coverage to replace those folks income when they're out on a total disability situation or they're out for a prolonged amount of time. So stereotypically what happens in small employers is, you know, they're generally, and I think you'd agree with this, they're generally paternalistic environments where, you know, it's not just, you know, employee 96543, it's. And Sam's been here for 20 years. And I'm not going to just not pay Sam because he's out on disability. So what do you end up doing as a small employer? You end up continuing his salary, which ends up costing you way more than what a long term disability program would cost, which essentially cost you, you know, pennies on the dollar to ensure income replacement if and when employees go out on disability. So that's something that people may not be mandated to get, but ends up costing them more in the long run when an employee of a small employer actually goes out on disability.

And it sounds like you're basically faced with an ethical decision because if someone leaves on disability and you don't have disability insurance, it's not mandated that you continue to pay that person. Is that correct?

Right.

But you may feel an obligation. Okay, but you may feel an obligation. So there's an ethical challenge there.

Correct? Correct. And it ends up costing more.

Oh, yeah, in that case, it'll cost more. No, I got you. Okay. So that's a real consideration. And I know you specialize in employee benefits and maybe it's unfair to ask you this, but I'm curious about the other kind of insurances that businesses need to consider.

Right. So another one that's mandated, you know, again, it's not necessarily in my wheelhouse is workers compensation. So a lot of small employers can look to what they find attractive or might actually help them with their profitability. Instead of paying out lump sum premiums for workers compensation and then getting audited at the end of the year. A lot of payroll vendors especially will facilitate what they call pay as you go, workers compensation. So you're paying only for the people that you actually have on payroll at any given time, which again, helps with cash flow and it helps to not overpay for people. Another aspect that sometimes people overlook when it comes to workers compensation is to make sure that employees are classified properly. Because unlike health insurance or a lot of other types of insurance, workers compensation, it really matters, you know, how people are classified. You know, are they working in a factory or are they working in an office? Are they an executive or are they a run of the mill employee? All these things will matter as far as the rate that you're charged. So if you don't keep a watchful eye on that. You could be overpaying for people merely because they're misclassified, not because you're necessarily a bad risk or any of those sort of things. So pay as you go will help you, obviously with the cash flow. Making sure employees are classified properly will help you, help you with your profitability because you won't be overpaying for things you shouldn't be overpaying for.

Do you ever see egregious mistakes when it comes to health insurance? You ever see companies that you go in, you're like, oh my God, did they mess that one up?

Yeah, because a lot of people, you know, again, this is a relationship business, so it's hard to fire people, right? People don't like to call up and fire people. You know, John's my insurance guy. John's been doing this for forever, right? And you see that a lot in smaller groups. But a lot of the egregious things happen because a lot of small employers don't look at everything right. So they look at what their broker or their consultant shows them and they don't really go outside of that menu. And there's a lot of, you know, unique health insurance plans that are, quite frankly, even available to small groups that they don't often see. Plans like, you know, level funded plans or plans that are called, you know, multiple employer welfare arrangements or what the cool kids like to call a me. Wah. These sort of plans might help a small employer might give them access to something they otherwise would not have access to. But a lot of times that relationship with their broker will keep them from seeing the full scope of what's available in their particular market.

Jeff, where can people learn more about you? Particularly if they have any questions about all these different insurance tactics and so forth.

I mean, everybody feel free to contact me. I'm sure they can get that through the links on your website or they can go to getstratford.com and reach me right through there. There's a lot of links to all the articles I've written, to the couple of books that I've written, to the videos I've done. Again, we generally take an educational approach to this stuff. So I like to tell people, look, I have four kids, so I don't just need a sale today, I need a sale three days, you know, three years from now and six years from now. So if I can help you today, and that makes me the person that you think of second for the next year or two, I'm cool. With that too. Because nobody ever told me that my kids would get older and more expensive. I just kept having them wait until.

They signed the deal with Virginia Tech. Oh, my God.

Wait till.

Wait till what? Wait till they sign up to go to Virginia Tech. I just got devastated by that bill.

We don't like to use the C word in my house.

Oh, yeah, it's a dangerous one.

Those are big, fancy buildings for fancy people. We don't like to go there.

Jeffrey, thank you so much for joining us and sharing all this great information.

Not a problem. Thanks for having me. I appreciate it.

Thanks, Jeffrey.

So we're Chris and Christina. We're going to recap what we just learned here. Some fascinating insights on such a technical, important aspect. I'll tell you, when I started a business in my we or me wah days when I was a young lad, I never thought about all these complex components that go on behind the scenes. And they're so important that you get them right first. I want to thank our corporate partners. Please, why don't you give me. We got five of them there. Give me all five and then tell me the one you want me to talk about. And it can't be receipt bank because we did it last. We did it last week.

Give you all five first.

Yeah.

Okay. T sheets.

Thank you.

Fundera, Receipt Bank, Nextiva and Fundbox. Why don't you tell me what Fundbox is all about?

Yeah. Good. Visit all those companies. They're great sponsors of ours. Fundbox. Fundbox is invoice financing. So say you have an invoice that's not getting paid to you. You have a client that's just dragging and draggin like I need the money. Just send me the money. Call Fundbox. They send Bruno over and he takes care of it. Now Fundbox will release the funds to you in its entirety. So your client owes you 10,000 bucks. Fundbox gives you 10,000 bucks. They wire it to your account. You have the money instantly. Then you get to continue to collect that money from your client. Now here's the beautiful thing. When you collect that money for the client, the experience is no different. They still pay their bill when they pay the bill. When you get the money, you return the funds to Fundbox plus their service fee. That's how Fundbox makes their money. But you've now addressed the cash flow, and it's an easy way of not doing factoring. You don't have a collection agency going after it. It's a way to get your money quickly with clients that don't Necessarily pay quickly. That's what Fundbox does.

Yes.

All right.

And they deserve a nice little punch, right?

I got him. Hey, is that client paying your bill?

Oh, hell no.

That's what I thought. That's what I thought. All right, and then when Funbox, when you get money from Funbox, how do you feel? Oh, okay, okay, I get it now. So, Chris, what was your takeaway from today, brother?

I kind of liked what he said right there at the end. He said, look at everything. And meaning you have to become educated about this whole insurance thing. There's so much involved, there's so many ways to do it, and there's timing involved. And I actually, I don't know why. From November 15th to December 15th, what is that one month window? Why is it there? Maybe there's an answer to that. Maybe it's not important. But just look at everything. Look at everything that's available. Study and learn about what might work for your business and what might not work and when. And then, then when you make a decision, you're. You're. You won't mess up.

Thank you. What about you, Christina?

I'm just spinning off the same thing with that is to definitely do your research before you just sign up for a plan. I just recently myself had to sign up for my own health insurance plan. And there's so many to choose from, and you really have to be careful as to what details are going into that plan, or there might be certain things that aren't the most beneficial for you for the one that you're looking at. So you really need to. To, like Chris said, educate yourself.

So, yeah, it really is about education. First of all, I always love to learn new words or acronyms, so me wah. I have no idea what that means, but I want to say me wah a lot, but the takeaway for me was this concept of high deductible insurance. I converted over to high deductible insurance about four years ago. And our deductible, I think is 5,000, maybe $7,500. Right. Which means unless there's some catastrophe, every insurance bill, I got to pay in its entirety. And that's been true for the last four years. Every bill that comes in from a quick spin to the urgent care emergency room for a broken bone or something, we got paid for its entirety. It's still cheaper. Even paying the entire deductible that we've had to pay in one instance, one year, it's still cheaper than getting the full insurance. So to me, it's a little Bit of a mind game. I've yet to find a case where high deductible insurance isn't a better choice.

Really?

Yeah, I guess. Unless you, like, live in the hospital. I think it makes sense.

See, I don't know. I went the opposite direction where I. Yep. I'm paying 100, about $100 a month, and I had no deductible. My copays have been great. I think I pay about $30 or a doctor's visit. I paid $5 for a prescription and.

Are you telling me Your insurance is $100 a month?

My health insurance is 100 dol.

Oh, my. You want to know what?

I did my research.

Yeah. So mine is fourteen hundred dollars.

But you also have a bigger family. I'm just paying for myself.

Yeah, well, first of all, I should be single. Second, I should be. I should be a single female and I'd be happy. That's amazing.

Yeah.

You know, that's what happens with insurance, too. You hear insurance costs and it's like. It's kind of like a. A muscle kind of contest. Like you flex your muscles. 100 bucks. I got 1400 bills I gotta pay. Oh, 1400. I got 2,800 over here. Like, everyone likes, like. Yeah, it's. That's pretty good.

Yeah.

Did you do it through the Obamacare?

I did. I went through the dot gov website. And, you know, they walk you through it and that's what's great about that process is, you know, you answer a bunch of questions and they give you a pool to choose from and you. I mean, I really. I. For like three days was very tedious to look at the best plan for myself, but I think that's what you have to do. Pay attention to the details.

You're a little bit of a Miwa. A little bit of a Miwa. All right, Chris.

Yes.

We gotta rock and roll, my brother.

This has been great. I'd like to thank our guest, Jeffrey Ingalls, and of course you, Mike and Christina for this awesome show. And of course you can give us a rating or a review in itunes or Stitcher. And of course, come on the website, profit first podcast.com. this is like you ever been to a five star website. Well, go to profit first podcast.com and you've landed there.

It's true. You know, you should also visit. You should. Of course you should visit profitfirstprofessionals.com. in fact, this is where you should get started. You know why? Because guys and gals like Jeffrey Ingalls are there. Listen if you didn't know what he was talking about half this episode, you did better than me. I didn't understand what you were talking about three quarters.

I mean, this stuff.

Zoom, zoom, zoom over my head. You need experts who understand the intricacies and can address your core concern. I tell him I need to be insured properly and I want to be more profitable. He says, okay, I will make it happen. That's what Profit first Professionals is about. You want to be more profitable in your business, but you need the expert who says, okay, I will make it happen. So go to profitfirstprofessionals.com Click on the find button. We will find you experts. We have them now in global, every, every state, I think in the US we have all over the globe and in different fields of expertise. They will help your business become more profitable tonight. Immediately go there now. Profitfirstprofessionals.com Click on apply. I'm sorry, apply. You can do that too. But click on find and we'll hook you up immediately.

That's right. Profit first professionals dot com. And of course, we'll be back with next episode. Now we're putting out two a week. Next episode we're going to talk to Mike Gugliaro. Did I say it right?

Well, don't call him. Don't mess up his name. He is a ninja. And I'm not like kidding. He's a ninja. He's like a triple black belt ninja.

He's a badass.

He's a badass. And he grew a plumbing business from squatola to I think it's over 25 million in revenue. This is one of those success stories. Strap on your five point strap seat belt and hold holding on tight for this story because you can do the same in your business. Tell us how.

We'll see you next week, guys. Until then, May as, as Obi Ron would say, may the prophet be with you.

And as Jeff Ingles would say.