In this episode of Beers with Contractors, hosts Will and Terry discuss the complexities and benefits of captive insurance with seasoned insurance executive Rich Hess from Plexus Group. The conversation unpacks how small businesses and contractors can navigate rising insurance costs, explores the concept of captive insurance, and provides practical advice on making informed decisions. Rich shares his extensive experience in the industry, including his transition from a traditional broker to a consultant role, emphasizing the importance of consumerism in healthcare. The episode also touches on how technology and AI are revolutionizing the insurance landscape and offers insights into self-paid health plans, property insurance, and the future of captive insurance amid changing demographics and economic conditions.00:00 Trailer01:23 Terry and His Historical Property04:37 Introducing Today's Guest: Rich Hess05:33 Understanding Captive Insurance07:16 Benefits of Self-Funded Insurance Plans17:47 Consumerism in Healthcare23:56 Captive Insurance: Getting Started34:14 Understanding Stop-Loss Insurance35:57 Exploring Captive Insurance37:03 Captive Insurance for Real Estate Investors39:04 Health Share Plans for Small Employers40:08 The Importance of Consumerism in Healthcare52:52 Navigating Healthcare Costs with AI57:39 Rich's Career Screw-Up and Lessons Learned01:03:55 ConclusionContact Rich Hess at:Website: https://www.plexusgroupe.com/ LinkedIn: https://www.linkedin.com/in/rich-hess-8106a5122/ Instagram: https://www.instagram.com/plexusgroupe Facebook: https://www.facebook.com/theplexusgroupe/ Twitter: https://x.com/plexusgroupe Foundation Rescue Supply Link:https://www.foundationrescuesupply.com/Contractors Kick Ass!Podcast Store Link:https://williamwalkerblake.com/store-1The Worker Incentive Program that Contractors Love! - Per4mance Software https://per4mance.io - Pay for performance, not hours

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