Episode #128

20/20 Money Episode #128 – Understanding your health insurance options as a practice owner with Jordan Clarke

April 19, 2021

On this episode of 20/20 Money! My guest on today’s show is Jordan Clarke. Jordan is one of the Vice Presidents of Charles M. Moore Insurance just outside of Bowling Green, KY and has an extensive career in in the insurance profession. I asked Jordan to come on the show to talk about a daunting and obscure task that the health insurance companies have seemed to obfuscate for business owners and that’s the topic of selecting group health insurance plans for themselves and their team members.

In this conversation we talk about the 3 different options that exist for practice owners, the breakdowns in cost and flexibility in cost sharing, how spousal carveouts work, “middle ground” options for practice owners that don’t want to insure on the individual marketplace but also don’t want to carry full group coverage, the difference between PPO and HMO plans from your perspective as the practice owner, and a couple of examples on why it could be expensive to do this all on your own.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, you can also set up a 2030min Triage conversation to learn a little bit more about how we help ODs around the country reduce their tax bill, manage cash flow, and make proactive money decisions or check out any number of additional free resources like our eBooks and on-demand webinars.

And lastly, your HSA contributions that you can make in the year in which you turn 65 are pro-rata. For example, if someone turned 65 on May 5th and was electing Medicare, their eligibility date is May 1st, which means that they could contribute 4/12 (Jan, Feb, March, and April) the annual maximum HSA amount in the year in which they turn 65. I promise this will make sense towards the end of this show.

And with that introduction, I hope you enjoy my conversation with Jordan Clarke.

https://cmmoore.com/

Episode Transcript

Enjoy our content? Subscribe for regular updates!

Related Podcasts

20/20 Money Episode #275 – An optometry practice “cold start” update with Drs. Bob Steinmetz & Eric Baas, OD from iCare Advisors

Welcome to this episode of 20/20 Money! My guests on today’s show are Drs. Eric Baas and Bob Steinmetz, co-founders…

20/20 Money Episode #274 – Insights into practice financing and lending for optometrists with Kevin Wills from PNC Bank

Welcome to this episode of 20/20 Money! My guest on today’s show is Kevin Wills. Kevin is Sr. Vice President,…

20/20 Money Episode #273 – I’VE BEEN HACKED (AGAIN!!) – Another 20/20 Money Takover with Drs. Chris Wolfe & Kyle Klute, OD

Welcome to this episode of 20/20 Money! My guests on today’s show are two more of my favorite people in…

20/20 Money Episode #272 – Weathering life’s storms: The importance of Resiliency with Dr. Ted McElroy, OD (Part 2)

Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Ted McElroy. This is part two…

20/20 Money Episode #271 – The importance of vulnerability in leadership with Dr. Ted McElroy, OD (Part 1)

Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Ted McElroy. This is part one…