The Financial Gravity Podcast
About This Show
In a sea of boring and outdated business advice, John Pollock is changing the conversation on how small business owners approach taxes, profit, and the path to growth.
Through John and a host of mega-talented guests, The Financial Gravity Podcast delivers more than just entertainment and good content. You will come away transformed and equipped with real-world strategies you can immediately use to solve your most challenging business problems, including the ones you thought couldn’t be fixed.
Most Recent Episode
Episode 22 - Tom Quigley — Save on Health Insurance Premiums
1 day ago
Tom Quigley is a Co-Founder, Vice President, and National Business Consultant of ClaimLinx, a company that provides companies with a solution to reduce and manage their health insurance premiums and health care costs. ClaimLinx provides a simple, elegant, and legal solution, based on a law called Section 105, allowing small businesses to save thousands, while providing better coverage for their employees. In this episode, Tom shares how you, too, could be saving a hefty buck on your health insurance premiums, and increasing your profits! Key Takeaways: [:20] John introduces his guest for today — Tom Quigley [1:05] What does ClaimLinx do? What is the objective of the company? [2:00] How was the idea for this business born? [3:37] John shares a little about Ed Lyon's history. [4:26] Tom reveals that the rules are in the favor of the consumer, but they don't realize it! [5:05] The problem with insurance is that it's being sold by insurance agents who have a vested interest in the highest possible premium — it's a conflict of interest! [6:40] There's an additional fiduciary issue when business owners ask their employees to contribute more income towards health insurance, which is a similar situation as with the 401k. [9:37] There's a difference between health insurance and "maintenance." How have business owners drifted from health insurance toward "maintenance"? [11:25] John summarizes Tom's recommendation — buy health insurance like you buy car insurance. [14:45] Think about why we buy health insurance, and how to maximize the coverage for what it really should be for (major incidents). [15:53] Tom talks about the 50-year-old tax law — Section 105 of the Internal Revenue Code. [18:20] Congress passed the Small Business Healthcare Relief Act, that basically supports what Tom does for his clients, which helps lower health insurance costs even more. [20:40] John shares a real-life example of what Tom does with his own company. [23:15] All the savings in health insurance premiums go straight to your bottom line! [24:35] Tom explains a little more about the HIPAA laws. [27:15] Tom's solution to high heal