[NEW EPISODE] A Prescription For Cost Containment

EPISODE QUOTE: “Bulls and bears make money, pigs get slaughtered.”

Most SMB owners have three big expenses on their mind at all times:  Business Operating Expenses, Taxes, and HEALTH INSURANCE. Health insurance can be a very complex topic, even to some insurance professionals.  We are entering a time of year when many SMBs are evaluating their benefits and looking at ways to potentially save money moving forward. One component of insurance programs that brokers and clients might overlook are the co-pays related to prescription drugs.  Certain medications can be very expensive and there are opportunities in today’s world to institute certain programs on the back-end to mitigate some of these costs. We are joined by Philip Grisafi, Vice President of Business Development at Risk Strategies Insurance Brokerage.  As a leading national brokerage, Phil and his colleagues provide customized insurance placement and risk management advice that is built for the challenges of today’s hyper-connected, fast-changing world of global business.

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The audience will hear from an insurance professional with testimonials from clients like this:  “We were struggling to keep up with the never-ending cost increases on our health insurance plan. When Philip introduced this program to us, I saw a way to get out from under that constant pressure and save some money. The plan has accomplished exactly what they said it would, and our employees are very happy with it.”

Tune in for this sensible conversation at TalkRadio.nyc

Show Notes

‍Segment 1

Philip was born and raised in Brooklyn by a single mother of four kids. He went to the Air Force so that he can attend college. New York was becoming a “pit”. So two years into his marriage in the early 90’s he moved to New Hampshire to get away from sales and income taxes. He did a lot of reading and he networked, everyone that he has met has changed his life in one way or another.

Segment 2

The first step is to try to understand what they need or want. Secondly, he tries to break down what makes sense for the company's population. Thirdly, with peers everything is reviewed. He’ll try to give the clients recommendations and plans to tackle. Rx Valet has been used by Philip as it is a great money saver for his clients.

Segment 3

The cost containment programs means that medicine can be sourced for cheaper as a consequence of the pandemic. Sadly the consequence is that it ends up raising taxes as it still needs to be paid for. There’s also Rx For Pets insurance for pets. This is becoming more mainstream as more younger populations are seen with pets. Business owners need to understand that there’s big money involved and so their options need to be presented upfront. Having an expert to guide them through it is important.

‍Segment 4

Don’t quit always find an answer to a question to have ideas constantly flowing. Less insurance is better to make sure you pay less. Philip also advises to listen to people and be humble. Your idea might seem great at first but you need to be ready to pivot.

Transcript

00:00:55.110 --> 00:01:24.890 Steven Frey @ALWAYSFREYDAY @SMBGUY: Well, hello! I'm there planet Earth and happy Friday. Great to be back on the airwaves to wrap up August, especially following a big Yankees win. It's Friday, and it's always Friday with me, Stephen Fry or Smb. Guy. I see. Why am I, or in case you missed it? Smb stands for small and medium sized business. For the last twenty years I've been a consultant for Smbs, a voice and a sounding board for business leaders advocating on their behalf. Their employees, too, I believe, very strongly, folks in sharing stories, providing

00:01:24.900 --> 00:01:54.880 Steven Frey @ALWAYSFREYDAY @SMBGUY: and creating connection. So every single Friday you could find me right here on'll talk radio Nyc: doing just that. Let me what's left of my mind and my voice to this radio show where I interview Smb: leaders as well as their trusted advisors. One thing that I've noticed over the years, everybody, some of the best thought leadership for Sms actually happens on Friday, right about that time we feel the freedom of the weekend. However, we're also anxious to start the weekend. I know I am because i'm leaving for

00:01:54.890 --> 00:02:24.029 tomorrow these crucial pearls of wisdom they're often overlooked. They're forgotten in favor of our fun, weekend activities and our freedom for work here on the show. We take advantage of that weekend freedom and clarity, and we discuss popular topics that are on the minds of Smb leaders and their trusted advisors. The name of the show people not just to play on words. My last name means free and German. Nice little tip it for you Today's episode of always Friday brought to you by Sda wealth strategies, and we see financial services firm in Watson Valley, New York,

00:02:24.040 --> 00:02:51.719 Steven Frey @ALWAYSFREYDAY @SMBGUY: offering personal wealth, management, and comprehensive business solutions for its clients. Sda stands for simplifying financial lives, designing financial strategies and advocating to implement that Sda offers a concierge experience for individuals and businesses. The firm's highest priority always the client's best interests and empowering them to be consciously proactive and to thrive today, tomorrow, and beyond to learn more visit. Sd. A Wealth strategies dot com.

00:02:51.730 --> 00:03:21.720 Steven Frey @ALWAYSFREYDAY @SMBGUY: She's back no more facetime. My family is reunited once again. My daughter is home from camp, very emotional, very exciting, great to have her back in the house, although a lot, Boys, Here she's in Chatterbox. We are leaving for vacation tomorrow with my brother's family, and my parents, very excited to go down a wildwood crest hang out by the Jersey shore. But we're going to talk about a little bit of a different prescription today in our topic of conversation. I'm doing the prescription for sunshine the next

00:03:21.730 --> 00:03:35.440 Steven Frey @ALWAYSFREYDAY @SMBGUY: few days. Today we're going to talk about a prescription for cost containment most Smb. Owners. They have three big expenses on their mind at all times, business, operating expenses, taxes, and health insurance

00:03:35.450 --> 00:03:48.719 Steven Frey @ALWAYSFREYDAY @SMBGUY: health insurance obviously can be a very complex topic, even to some insurance professionals. We're entering a time of year when many Sms they're evaluating their benefits and looking for ways to potentially save money moving

00:03:48.730 --> 00:04:18.380 Steven Frey @ALWAYSFREYDAY @SMBGUY: one component of the insurance programs that brokers and clients might overlook are the copays that are related to the prescription drugs certain medications. They can be very expensive, lots of opportunities today to institute programs that on the back end that you don't really feel too much that actually might help you mitigate some of the costs. Well, today we're going to hear from an insurance professional who has embraced this concept and made it part of his daily discussions in his space. Not only has it been a differentiator, but also a phenomenal

00:04:18.390 --> 00:04:28.129 Steven Frey @ALWAYSFREYDAY @SMBGUY: way to show business owners and their employees so much-needed savings talk is cheap. We know that we're on talk radio dot Nyc. We don't want this to just be talked.

00:04:28.140 --> 00:04:44.950 Steven Frey @ALWAYSFREYDAY @SMBGUY: Let's use the insight we get on the business landscape and create some impact on Monday morning. It's far too often in my travels the businesses are focused on the product that's going to solve all of their problems. The new app, the magic wand, the shiny new mouse trap. One thing that I see every single day

00:04:44.960 --> 00:05:02.600 Steven Frey @ALWAYSFREYDAY @SMBGUY: products change, whether you're talking your personal or your business life. There is no substitute for having the right people, the right trusted advisors around you and keeping a focus on an excellent process that's going to help you achieve your goals. You do that. The right products will be there when you need them. Everything begins and ends with the people.

00:05:03.420 --> 00:05:13.639 Steven Frey @ALWAYSFREYDAY @SMBGUY: I'll take a breath in the spirit of surrounding yourself with the right people. We have a great show for you here today. Our special guest is Philip Rousafi, Vice President

00:05:13.760 --> 00:05:29.490 Steven Frey @ALWAYSFREYDAY @SMBGUY: of Business Development at risk strategies. So a little bit about Phil. He is a veteran of the United States Air Force. He has over thirty five years experience in multiple areas of the human resources and employee benefits Field. He has served as a consultant,

00:05:29.500 --> 00:05:35.480 Steven Frey @ALWAYSFREYDAY @SMBGUY: corporate benefits manager and as a producer for a major New England insurer. Sorry about the New York Jersey bud.

00:05:35.700 --> 00:06:05.379 Steven Frey @ALWAYSFREYDAY @SMBGUY: His current focus is helping his corporate clients with strategic benefit issues by helping them put in place the benefits that are appropriate to attract and retain qualified employees. The focus is to help them where appropriate to transition to optimal funding methods, such as reference based, pricing and using captive insurance companies all while taking advantage of various cost containment strategies that are available in the marketplace testimonial from one of his clients. We were struggling to keep up with the never ending costing

00:06:05.390 --> 00:06:13.540 on our health insurance plan. When Philip introduced this program to us, I saw a way to get out from under that constant pressure and save some money.

00:06:13.550 --> 00:06:35.389 Steven Frey @ALWAYSFREYDAY @SMBGUY: The plan has accomplished exactly what they said it would, and our employees are very happy. So clearly Phil has some phenomenal experience in this space very ideal person to chat with about this topic as always, we will discuss my favorite questions. Who is your favorite movie, your Tv show? What's your favorite musical instrument? And who's the artist? You like to hear play it

00:06:35.400 --> 00:06:46.219 joining me from his home base on the Merrimack River in sunny New Hampshire, most likely disgusted at my wearing my Yankees Jersey, Phil. Welcome to always Friday. Great to see you, my friend.

00:06:46.230 --> 00:06:50.689 Philip Grisafi: Nice Nice to be here, Steve. Actually I'm originally from Brooklyn.

00:06:50.700 --> 00:06:59.559 Philip Grisafi: So uh i'm a big Yankees fan a yet rangers fan a giants fan. I love our New York sport still, even to this day, even though i'm in a sea of milling, wonders

00:06:59.570 --> 00:07:05.690 Philip Grisafi: music to my ears. It's rare that you get someone who resides in New England who will testament to that.

00:07:05.700 --> 00:07:07.049 Philip Grisafi: But we have

00:07:07.140 --> 00:07:08.230 Philip Grisafi: good.

00:07:08.240 --> 00:07:14.730 As you indicated, you know, I was born and raised in Brooklyn, and a single mom, four kids and

00:07:15.290 --> 00:07:29.709 Philip Grisafi: topic today of student loan debt. The thing I I went into the Air Force, so I can go to college. So I was a lot of people, and an indirect way to government did finance my my education, so I have no complaints. So what's going on there right now, Maybe what a handling is. But

00:07:29.720 --> 00:07:35.990 Philip Grisafi: you know, and the reality is is that I had to do what I had to do to get to school, and that's what you have to do.

00:07:36.000 --> 00:07:56.460 Steven Frey @ALWAYSFREYDAY @SMBGUY: Well, aside from being a member of the Air Force, we do have some similarities in our resumes. I'm. A big fan of the work that you've been doing, and have thought for some time that there there needs to be just a little bit more education, especially around this topic, for most most folks out there, even insurance professionals not just the clients, but tell us a little bit about your journey, how you get to where you are today.

00:07:56.750 --> 00:08:00.320 Philip Grisafi: Oh, I went after I got out of the Air Force. Um.

00:08:00.380 --> 00:08:11.059 Philip Grisafi: I went back to New York. So I work in down on Wall Street from Earl Lynch, worked for Merlin for a while, and just recently got married, and two years into the marriage.

00:08:11.070 --> 00:08:30.699 Philip Grisafi: New York was kind of what it is today. A pit, a lot of stuff going on in the early ninety S. And so Ah! My wife had at the time packed up our bag, our dog, and our cat. We had no children, and we moved to Hampton Beach, New Hampshire, and the reason why I picked New Hampshire was There's no sales of income tax up here. We had neither,

00:08:30.710 --> 00:08:39.589 Philip Grisafi: and we get crushed in taxes. So we came here, and that was thirty two years ago, and i'm still up here and There's still no sales income tax here in New.

00:08:39.600 --> 00:08:56.910 Philip Grisafi: That's how that's the journey that got me. No one in their life ever says they're going into the insurance business. You don't go to school to become an insurance business. It's something you you either fall into, or you know somebody that wants you to do it. And I I met some people along the way that just dragged me into it, and that's how I got into what I do.

00:08:57.480 --> 00:09:09.000 Steven Frey @ALWAYSFREYDAY @SMBGUY: Yeah, it's. Ah, I I would agree that you don't always go into it planning to be an insurance professional. It's something that you end up falling into. But, like many things out there, it's not so much

00:09:09.010 --> 00:09:33.430 Philip Grisafi: you know about what you say. It's about how you say it. It's kind of like you said with the student alone. Thing going on right now. It's, you know not not not necessarily opposed to it, but maybe against how. However, the message was delivered, you know. Talk to me a little bit about some of the travels that you've had just getting to this point of where where there's different things available now that weren't necessarily around ten, twenty years ago that people just aren't necessarily aware of.

00:09:33.440 --> 00:09:43.990 Philip Grisafi: Well, I found New Hampshire in the Encyclopedia Britannica. That's how That's the world. I grew up in pre Internet free cell phone all that great stuff. So

00:09:44.000 --> 00:09:59.369 Philip Grisafi: um Just again just read: I did a lot of reading which is a lost art today. It just it directed me to different people in different places, and I network, and I like you. I'm a serial network. I love to meet people and and pick people's brains.

00:09:59.380 --> 00:10:08.449 Philip Grisafi: Try not to act like the smartest person to room. I do listen a lot, and I you know you have to have listening ears and eyes, and you know that's how you

00:10:08.460 --> 00:10:27.389 Philip Grisafi: many, too many people talk too much, and they miss something that someone just said that could change their life and opportunities. I've done everything from multi-level marketing to you know janitor into school to working at Mcdonald's. I've done just about any kind of job you could imagine a taxi cab driver I mean you name it. I've done it

00:10:27.780 --> 00:10:36.960 Philip Grisafi: every job I've ever done. I meant somebody along the way that changed my life ever just just just either through an introduction or through

00:10:36.970 --> 00:10:55.290 Philip Grisafi: a tidbit that they throw at me, that just me to do different things. And I take that into my professional life today, and I think you mentioned earlier in the segment there are many benefit professionals, insurance professionals that are really It's almost like doctors that are not up to date, you know they don't know what's really going on in the industry,

00:10:55.300 --> 00:11:04.550 Philip Grisafi: and you get comfortable in your surroundings, and you forget to keep asking questions, and you just take what's there and what you're used to, and you go

00:11:04.650 --> 00:11:34.240 Philip Grisafi: So at least i'm not thinking really outside the box, either. So while while we're on the topic of changing life forever way back in high school, and i'm i'm a Central Jersey guy that's where I am now. That's where I grew up. But way back in High School. My a friend's uncle, took me to L. And B. Spammoni Gardens in Vincent, Hirst Brooklyn. I know that's where you grew up. But when we first met. I I I threw it out there, and you gave me some very interesting feedback on the history of

00:11:34.250 --> 00:11:40.390 Philip Grisafi: Help me on that. I did the Ln. Of Money Gardens. That's still what I'm having in Brooklyn. This was

00:11:40.420 --> 00:11:51.650 Philip Grisafi: owned by my uncle's brother and his family. So it's been there. It's been an institution I've worked. There was another job. I had It's a scoop ice cream.

00:11:51.660 --> 00:12:10.389 Philip Grisafi: I learned how to make pizza there as well, and uh it's just It's just It's just you know It's amazing. It's an amazing place. It's still there. It's an icon, and uh I don't think it's family owned any longer. But uh, it's all as good as it always was. And uh, it was just interesting how we brought that up, and you know, here we are. You know we have a connection here.

00:12:10.400 --> 00:12:17.490 Philip Grisafi: We didn't know five minutes, you know, a few days ago. That's what I was talking about. You just never know in life when you listen and what you may hear,

00:12:17.500 --> 00:12:22.509 Steven Frey @ALWAYSFREYDAY @SMBGUY: and it's one of the best deals I ever made with my next-door neighbor because we live, you know,

00:12:22.520 --> 00:12:51.230 Steven Frey @ALWAYSFREYDAY @SMBGUY: an hour away from there. It's any time either of us passes it. We pick it up for the neighbor, which is probably the best deal I've ever negotiated. But you know, behind the scenes moving into my neighborhood, but negotiating behind the scenes very relevant to what you've been doing as far as helping folks not only come up with custom. Creative approaches to insurance programs of which there's a lot of different ways to navigate. There's also certain components of it. It's almost like industry within the industry as far as how it can be navigated, So,

00:12:51.240 --> 00:13:01.220 you know, talk to us a little bit, you know, as we get closer to to the method part of the show here as to how the travels have led you in the direction of really being consultative on this topic.

00:13:01.290 --> 00:13:18.879 Philip Grisafi: Well, like anything else. You know. I grew up in an environment where I learned and watched people do things, and as the baby of four children, I learned very quickly how to avoid trump, and how, and and learn from other people's mistakes. And so, as I grew into the business,

00:13:18.890 --> 00:13:27.289 Philip Grisafi: you know part of my life after the Air Force was great training. But then, once I got out, I started to, you know, climb the ladder and corporate and meet people, and

00:13:27.320 --> 00:13:46.800 Philip Grisafi: I found out that the best way was to watch other people were doing, and then, if it made sense, steal that idea or didn't make sense, find a better idea. If something works, it's working well, you know. Go with it until it's not working any longer, and that's the key is that everything works for a little while. Products coming go,

00:13:46.810 --> 00:13:48.350 Philip Grisafi: people come and go,

00:13:48.400 --> 00:14:01.390 Philip Grisafi: ideas coming up. It's the person that can see the idea. Spot a trend, and then work with that trend and ride that horse for as long as you can, until the horse dies, and then you just jump on to another. It's the passing horse that

00:14:01.400 --> 00:14:20.230 Philip Grisafi: that has really helped my journey, and and I've learned to listen and and respect other people's ideas, even though I may not agree a lot of times I had a boss. You used to tell me. Give the dogs the dog from their league, not the one you want to buy, and that was. That was a long time ago, and that was very helpful in my journey

00:14:20.240 --> 00:14:22.150 Philip Grisafi: to become very consultative,

00:14:22.430 --> 00:14:52.160 Steven Frey @ALWAYSFREYDAY @SMBGUY: being very consultative, absolutely, being very people first, I think is very big, and it seems like you share the same philosophy. By the way, a big fan of the shirt that you're wearing for those who are watching out there in video end. So my kids are very into Sponge Bob and Company. So I love it. But you know the idea of employee advocacy, you know, advocating on behalf of business owners very big, especially when it relates to health care, but also on behalf of the employees, too, always an intro part of the of the puzzle, especially when you're talking small and medium sized business,

00:14:52.170 --> 00:15:09.889 Steven Frey @ALWAYSFREYDAY @SMBGUY: because the owners have a lot of aspects where they are employees and having health coverage is definitely one of them that comes up regularly. So in your travels as of late. Talk to us a little bit just about having the focus on the employee advocacy. Side, too, has been really helpful in strengthening these relationships.

00:15:09.900 --> 00:15:27.690 Philip Grisafi: Sure, and, like you said, you know, benefit plans also benefit the owners as well. I mean there, and that's That's part of the employment, you know. Agreement that, you know. Benefits cover everybody, and obviously health insurance has changed over the years got more expensive, and it's a huge part of business, you know. I've seen,

00:15:27.700 --> 00:15:50.759 Philip Grisafi: you know, the old days with the major Med. Deductibles are under two hundred dollars, you know, in the two, three, four, five thousand dollars duckal range. You. It's getting very expensive, so it's it's It's important to understand the employees side of this, because we're not living in a vacuum. Employees are especially in today's world, and and I think all of us know that there are about eleven million jobs and not enough people to fill them.

00:15:50.810 --> 00:15:59.730 Philip Grisafi: So right now it's what they call an employees market, you know, like balance is offering, signing bonuses. Everybody's offering, signing bonuses because they can't get employees

00:15:59.740 --> 00:16:16.790 Philip Grisafi: so as an employer. If you want to be an employer that people want to work for you have to provide quality in addition to quality pay. You know, benefits ranks up there, especially health insurance is usually the number one item for people, because it's so expensive, so you have to be able to

00:16:16.800 --> 00:16:31.219 Philip Grisafi: provide benefits. But you have to also be able to afford them. You know I've seen a lot of companies that they just just can't afford it. And so they just keep ratching up deductibles. So in my role I try to look at what's available. I think I mentioned this earlier to you is that

00:16:31.230 --> 00:16:59.699 Philip Grisafi: my job as a trusted advisor is to that wall behind me is to fill it up with ideas. And then we start talking about each idea. We scratch off ones that don't make sense, because you've got to remember as an owner you're still an individual who's still human being, and you have biases, and there are certain things that you know may feel fit your your culture, or maybe not even your culture. You have a you know, a white column. We'll call it workforce. But there's differences that you know. You have younger verses or employees that there are differences. What people need.

00:16:59.980 --> 00:17:27.589 Philip Grisafi: But health insurance really is is the same in the sense that it covers everybody the same, and you're all subject to it. And so what I try to do is to help control costs for my employers by providing them with the most recent. You know, ideas that are available in the marketplace and and help them with some cost containment strategies to help lower those costs because a lot of times employee pharmacy make a ten dollar Co pay, and they they don't understand that the online medication is eight hundred dollars.

00:17:27.599 --> 00:17:55.559 Philip Grisafi: And so you know that point. The The plan is paying the other seven hundred and ninety dollars at some point that cost has to be borne by somebody. So what happens is, you know, that that comes through in the form of decreased benefits and increased costs, and so helping them and understanding their culture and helping them with cost per payment, is the number one item, because if if my client can't afford to pay his benefits, I don't have a client, but if his business is not making money, I don't have a client.

00:17:55.570 --> 00:17:57.690 Philip Grisafi: So it all it all comes together.

00:17:58.030 --> 00:18:25.199 Steven Frey @ALWAYSFREYDAY @SMBGUY: Yeah, absolutely does, being people-centric, you know, big with that, but and also being able to just communicate effectively, which I I find some struggles in the industry with folks that got licensed a while ago, and Haven't necessarily kept up with what is available out there a lot of times they'll have trouble communicating with with folks. But that's where you come in. We're going to take a quick break, but we'll be right back with Phil Grafi, Vice President of Business Development at risk strategy. Stay with us.

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00:18:32.900 --> 00:18:47.989 www.TalkRadio.nyc: Hi! I'm, Stephen Fry, your small and medium-sized business, or assembly go and i'm the host of the new show always Friday, while I love to have fun on my show. We take those Friday feelings of freedom and fire to discuss popular topics in the minds of sops today.

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00:20:41.190 --> 00:21:07.380 Steven Frey @ALWAYSFREYDAY @SMBGUY: Welcome back everybody. It's Friday. It's always Friday, and it's me. Stephen Pry, your Smb: guy we are chatting with my friend Phil Grasafi, Vice President of business Development at this strategies before we get into Phil's method behind his madness, I want to take a moment and just sit up by the fireplace and give a quick perspective Here the idea of really being innovative and ever changing, especially with an industry like insurance and healthcare,

00:21:07.390 --> 00:21:27.650 Steven Frey @ALWAYSFREYDAY @SMBGUY: along with being people First, you know, everyone wants to save time and money, Phil and I can definitely relate to that. The only issue with it is things start to become very commoditized, especially with insurance, both on the sides of the professionals who work in the space and the end user clients, the Sms. The businesses that take on the insurance programs.

00:21:27.660 --> 00:21:34.089 Steven Frey @ALWAYSFREYDAY @SMBGUY: They can be highly customized. They can be extremely beneficial to both the Smb owners and the employees,

00:21:34.100 --> 00:21:53.320 Steven Frey @ALWAYSFREYDAY @SMBGUY: however, and i'm sure Phil will agree with this. The c-suite doesn't always take an interest in these discussions, and a lot of times that'll lead to mainstream only box types of solutions that people find out there where something really highly customized might actually be warranted. The bottom line is, you need to partner with folks who are people first,

00:21:53.330 --> 00:22:05.689 Steven Frey @ALWAYSFREYDAY @SMBGUY: also with folks who have been through the ringer with experience, but welcome the idea of always being educated and ready to take advantage of all the new approaches that are available out there. Things change, products, change all the time. We know that.

00:22:05.700 --> 00:22:20.290 So, Phil. This is the method, part of the show method before the madness, the scientific part. This is where we like to talk about what we do, how we do it, and how we go to market for it. So lay it on us. Give us a little bit of how you really differentiate yourselves from other insurance shops out there.

00:22:20.300 --> 00:22:37.509 Philip Grisafi: Sure. Well, first of all, if you talk to any business owner, they have benefits in place, and ninety percent of them don't even know why They just have them. They've been told they need them, and they have them. They don't even know what they have, what they have. They have benefits. They don't even the big line. Item, they don't know who they are.

00:22:37.520 --> 00:22:55.690 Philip Grisafi: So typically from from a method perspective. I like to understand what their philosophy is, so i'll I'll sit down. I do a lot of talking and listening, and i'm trying to understand where they're coming from. Try to um. They don't even have budgets. They just know that this costs this, and they just pay it, and they don't even understand. You know how it plays into their overall business structure.

00:22:55.700 --> 00:23:06.100 Philip Grisafi: But I try to, you know, understand their entire business, whether a manufacturer or a multi-level marketing company or an auto dealer. You know what what what is it. You know. What do they want to get out of a benefit?

00:23:06.110 --> 00:23:14.959 Philip Grisafi: Do they need all the benefit programs they have? And so typically that's how we start. The process is trying to understand what they're what they need and what they want.

00:23:14.970 --> 00:23:21.390 Philip Grisafi: And then from there i'll try to provide some some guidance and some ideas. I think I mentioned earlier about many ideas on the wall,

00:23:21.400 --> 00:23:37.889 Philip Grisafi: and then we try to break down into what makes sense for your your population. Because again, typically, i'll always try to do an age analysis of a company. Try to get an average age to see where that does impact. What I believe what I should be recommending to them.

00:23:37.940 --> 00:23:47.159 Philip Grisafi: Sure. So you know, that's all part of that science that magic behind the scene stuff is really listening and asking probing questions to help them understand what they have,

00:23:47.170 --> 00:23:49.309 Philip Grisafi: and that's a huge part of what I do.

00:23:49.320 --> 00:23:53.380 Philip Grisafi: And then, once that happens, then I typically will go back

00:23:53.390 --> 00:24:23.069 Philip Grisafi: and take all the information, and you know I have peers to other people I I work with, and I respect a lot of other people. I listen to their ideas and stuff around, and then i'll try to come up with some sort of you know couple of different scenarios and recommendations for clients, and sit down again and go further with them, and and try to see what makes sense sense for them. You know right now uh buzzwords in our industry, and you mentioned, you know, about cost, containment and

00:24:23.080 --> 00:24:28.159 Philip Grisafi: prescription drugs and companies like our X of La is one of them,

00:24:28.320 --> 00:24:45.239 Philip Grisafi: and I use them with what I've used them for a couple of years now, a couple of clients, and and the money has been significant. I think you you quoted one of my clients earlier. Ah, about saving the money, and and you know they're on track to this year. Out of a million one spend. They're going to say two hundred grand on just on the pharmacy alone

00:24:45.260 --> 00:25:14.419 Philip Grisafi: into our X-ray. So the the point is that there there are all kinds of things you can do. There are other companies out there that do this, but you know we vet those that we try to do it. You know you got a good R. Actually see, you know, people on television with the cards and all this great stuff that's purely a discount program. It's not insurance some people without insurance like it. So people with insurance like it. But then it doesn't count with your insurance deductive goals where they're okay. So you got it. You got to know what you have, and that's part of where we do a bad job

00:25:14.430 --> 00:25:21.069 Philip Grisafi: of educating the employer and the employees. Because, again, part of is once we

00:25:21.080 --> 00:25:39.989 Philip Grisafi: the the method piece, once we get the employer to agree on a strategy. Well, now, we've got to communicate it to the employees, and and usually it's a one, You know this work open enrollment An employee, you know. We don't have eight hundred people in the room. We do one meeting for an hour, and we expect them to become that, you know, back in the experts. And uh, you know

00:25:40.000 --> 00:26:01.310 Philip Grisafi: what I require, or what I always ask for my clients is to allow me on site, quarterly, or or zoom quarterly, to to reinforce the benefit programs, how to use it. Because I think you mentioned earlier about something about submitting a claim. Most people forget to submit claims. You have these great insurance programs, and unless it's a direct bill like like an office visit most times you have to file a claim, and most people don't

00:26:01.540 --> 00:26:08.320 Philip Grisafi: So, as part of what I do is try to educate the employee on how to how to get the Mac maximize the benefits that they do have,

00:26:08.490 --> 00:26:12.190 Philip Grisafi: so that that's a huge part of the method behind the madness.

00:26:12.200 --> 00:26:38.460 Philip Grisafi: Yeah, I I personally like the term cost containment, because a lot of times some of this discussion gets gets positioned as expense reduction, and I think when it gets positioned that way it just falls into the commoditized bucket of I'm just looking for the cheapest price. All right. Well, the cheapest price isn't necessarily going to get you to where you want to go Cost containment is, you know, it might be semantics to some people. But you, you're really looking at a strategy that's going to work

00:26:38.470 --> 00:26:46.720 Steven Frey @ALWAYSFREYDAY @SMBGUY: for the employer, for the employees for both sides of the table, and really deliver exactly what everybody's looking for, and that differs from company to company.

00:26:46.730 --> 00:26:57.879 Philip Grisafi: Right? You're not going to save your business by pulling out light bulbs and cut your electric bill. I mean, that's why I try it. It's analogy. I like to use similar to what you're mentioning. You know you're focusing on the wrong stuff.

00:26:57.890 --> 00:27:06.290 Philip Grisafi: I always tell my owners or my clients mother was the Hr manager or the owner, because I deal with a lot of owners as well, and I always explain all that you

00:27:06.300 --> 00:27:20.620 Philip Grisafi: What is your annual sales, and what is your annual profit? And then you look at the medical plan. I made a conversion that, applying five years ago to a different type of product, a reference based type product, and

00:27:20.630 --> 00:27:26.650 Philip Grisafi: their their savings in the medical plan was more money than they they made after after tax in their in their company.

00:27:26.710 --> 00:27:28.690 Philip Grisafi: That that's how crazy about it.

00:27:28.700 --> 00:27:43.390 Philip Grisafi: And so, you know, they thanked me. They actually made me more money that year. I mean, they actually were so thrilled because we saved them so much money. And so, you know, sometimes you just have to really focus in on what's important and not get lost with the in the weeds with the stuff that's not important.

00:27:43.400 --> 00:27:47.390 Philip Grisafi: Everything's important to some degree, but that some things are much more important.

00:27:47.400 --> 00:27:55.720 Philip Grisafi: And so what I tend to do is try to focus on the really important items that I believe that at least the stuff that I could impact because I can't impact

00:27:55.900 --> 00:27:59.779 Philip Grisafi: everybody's definitely impact the piece of the of the world I work in.

00:27:59.840 --> 00:28:29.740 Steven Frey @ALWAYSFREYDAY @SMBGUY: So you know, in in both of our travels. Right? You mentioned Ah, Rx. Valet, I've seen numerous companies like Ah Rx valid, but something like good. Ah, Rx, like I've seen that at the cash register on Tv. A lot of people out there can relate to it. And really it's just It just comes down to a difference in marketing. So you know, marketing is like, hey? This is a discount. Programs, like everybody who's, you know, got a pulse that can get this car. Grab this card. You save some money so everybody's kind of familiar with it. But you know, looking at some of the other types of solutions like in our expense,

00:28:29.750 --> 00:28:47.289 Steven Frey @ALWAYSFREYDAY @SMBGUY: there is really kind of strategizing with the c-suite with the business owners learning the the culture of the business, learning the employee base a little bit, and you know, not doing something that's kind of synchronous with the insurance program that they that they have is that that really sum it up in a nutshell?

00:28:47.300 --> 00:29:01.080 Philip Grisafi: Yeah, it really does. And and the nice part about on our X la, or it's a lot of cost container strategies. We use. A lot of those are behind the scenes type things that most employees never see, or it doesn't impact them, but it impacts it. It does impact from a cost perspective,

00:29:01.090 --> 00:29:24.069 Philip Grisafi: and in some cases it actually it actually provides better value to the employee, because, like with our like, a concierge type service that they actually interface with the employees, it's their employee going to stuff is mail to their home that follows up. So the experience is better than just going out of your local Cbs and Walgreens, and just, you know, getting your prescription and walking home. So

00:29:24.080 --> 00:29:33.569 Philip Grisafi: some of these things are not as not intrusive at all, and they provide, you know, some really good back-end type savings for the employer without a lot of, you know. Stuff upfront,

00:29:33.840 --> 00:29:52.499 Steven Frey @ALWAYSFREYDAY @SMBGUY: right? Yeah, I think that's big, because when when people business owners especially and their employees feel some changes up front, everybody gets a little skittish and apprehensive things are going to change. I have to learn something new, and you know, really, if it's mostly a back end change, and you know there's a There's a card that you got to use. That's that's really not intrusive at all.

00:29:52.510 --> 00:30:16.370 Philip Grisafi: And also with respect to our Xl, there are many vendors that do that. I'm. Just using the R. X. F. A. Today, because I've had some good experience, and they and their and their model for for those business owners. They're listening is that they they they they! They! They charge your per member for month fee as opposed to a percentage of savings. So there are a lot of companies out there, for instance. I'll just use some some simple math, a drug, maybe a hundred thousand dollar drug.

00:30:16.580 --> 00:30:18.170 Philip Grisafi: They'll

00:30:18.510 --> 00:30:34.759 Philip Grisafi: Company A will say, Okay, we're gonna we'll get you that drug. And but we want thirty percent of the savings. That's their fee for that particular drug. And so one hundred thousand dollars drug. They save you whatever they save you. They get thirty percent of that savings. You don't get it all you get a piece of it sounds fair, but

00:30:34.770 --> 00:30:53.570 Philip Grisafi: it could be a big chunk. You could be some money going to these providers which they saved you the money. But the Rx Valley method, or any other method. I always believe in what they call the P. Per play per month method, where they charge you a flat fee. So you're not gouging anybody, and everybody feels like they're winning.

00:30:53.580 --> 00:30:55.290 Philip Grisafi: And so those are the kind of things you need to

00:30:55.300 --> 00:30:57.189 look at again. This gets back to them

00:30:57.200 --> 00:30:58.430 method against

00:30:58.700 --> 00:31:15.399 Philip Grisafi: studying the the different various options that are available. Because, I think, as as Stephen mentioned earlier in the program, there are, there are so many. Ah, R. X. Malays out there, so many vendors out there. Everybody is, you know, the Baron of the week, whatever you want to call them all doing the same thing, and you really have to do your homework and do what's best

00:31:15.410 --> 00:31:28.670 Philip Grisafi: for your client, and that's why I said you you ride the horses, and then, when the horse is starting to run out of gas, you jump on to the next horse, because you know a few years now it could be somebody else. And if you just think, you know, you're gonna ride their horse forever, it doesn't work,

00:31:28.680 --> 00:31:47.389 Philip Grisafi: it's It's actually a good Segue into the madness coming up after this break, because our X valet for pets, too. So i'm definitely curious about that, as I have a dog who's got some particular needs and a little crazy to boot. But we're going to take a quick break. We'll be right back with silver Sopi, Vice President of business development at risk strategy. Stay with us all right.

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00:33:53.170 --> 00:34:23.050 Steven Frey @ALWAYSFREYDAY @SMBGUY: Our tobacco is Friday with me, Stephen Pryor. Smb. Guy, we're chatting with my friend sober, so the Vice President of business development at risk strategies. We're getting a little bit into the madness. Now, the artistic observational view, the stories that Phil has from the field being an insurance professional and helping to navigate things with a people first people-centric type of approach learning the culture of the business to best advocate. So again, Phil, no story to taboo anything goes. Obviously, you don't want to compromise My,

00:34:23.060 --> 00:34:43.820 you know. One thing I hear from people these days is they think that they are going to get expense, reduction and cost containment strategies in this type of space with the prescription drugs by going directly to the drug companies, or by having the doctors try to advocate for them. I don't think it really works that way. At this point you care to comment on that

00:34:43.830 --> 00:34:55.879 Philip Grisafi: Sure? Um, basically What happens is that that comes about because you see on television, if you have trouble paying for your medication. You contact the manufacture directly, and they may be able to help you out.

00:34:55.889 --> 00:35:24.549 Philip Grisafi: It's. It's a tedious process, but like a company like an Our. X and and and their competitors. Actually, it's called this prescription assistance program. Every manufacturer has that arm that basically, if if you're in you fall into an income category where you can't afford your medications. They'll they'll actually provide it to you at the the reduced cost of for free. So that's that. That is, that is something that's doable. But it's not it's not It's not as as easy as being a You know, a a phone and making a call,

00:35:24.560 --> 00:35:35.529 Philip Grisafi: and that's where you know. That's another part of what these companies do to advocate on behalf of the employees. We talked about employee advocation and advocacy earlier. So that is definitely something that can be done

00:35:36.550 --> 00:35:37.989 Steven Frey @ALWAYSFREYDAY @SMBGUY: right right right?

00:35:38.000 --> 00:36:05.919 Steven Frey @ALWAYSFREYDAY @SMBGUY: There's Ah, you know there was a lot of speculation during the pandemic, and rightfully, so that insurance rates in general, just because of Covid, we're going to go through the roof, and you know some of that sort of happening. Some still remains to be seen, but as far as the way certain areas of the business were treated and things that might have come about from the pandemic. There might have been some some positive movement to help along, you know, being able to put together a savings program, a cost containment strategy for prescription drugs.

00:36:05.930 --> 00:36:09.289 Can you? Can you tell us a little bit more about that?

00:36:09.300 --> 00:36:35.450 Philip Grisafi: Sure, A lot of it with the with these, with these, with these cost containment, you know. Ah, prescription programs is now Ah, because of the pandemic They recently the laws on the importation of you know, medications from overseas. So a lot of these companies source. Their medications are a lot less expensive, but fortunately, as you know, Americans pay the higher price for prescription drugs. Ah! And so you know, we can get them from Canada, and you can always. You can always do that through the Internet But now it's

00:36:35.460 --> 00:36:41.679 Philip Grisafi: now. It's like becoming more and more. It's easier now. So the pandemic is definitely help that,

00:36:41.890 --> 00:36:54.299 Philip Grisafi: and the new legislation what they call the was it the Inflation Reduction Act? I think that's what they call it. They're finally given Medicare the ability to negotiate some prescription drug prices which

00:36:54.310 --> 00:37:16.369 Philip Grisafi: it really does make sense. I you know this bill has been in in in existence for nineteen years, and after that finally, now, to giving him the ability to negotiate. But the the the problem with that's going to happen now is Government's the largest payer. So they're going to the biggest, you know. They're gonna be the biggest elephant in the room. So what's going to happen, is It's typically as you know, It's like everything else where you you raise taxes or whatever you got,

00:37:16.380 --> 00:37:35.569 Philip Grisafi: it has to be passed on to somebody. Ah, student, loan debt, someone's going to have to pay for it, You know. I see these means on on the Internet like. Oh, you've been complaining about. You know the cost of lettuce and the cost of everything, and they're like when you got all that free money from the from the you know the pandemic redefax between the different administrations. Someone has to pay for that.

00:37:35.580 --> 00:37:50.090 Philip Grisafi: So that's where you know inflation earning orders. And so we had. So you You may have got a free sandwich yesterday, but now you're gonna have to pay for it today. It's the all you know by with me. Number I'm glad glad we pay you Wednesday for Hamburgers today.

00:37:50.100 --> 00:37:52.929 Philip Grisafi: No, So you know, the reality is is that

00:37:52.980 --> 00:38:12.609 Philip Grisafi: the pandemic has has allowed the Government to become more involved in in passing legislation to try to help people with their care, and and you know the covert extensions and and cover subsidies for people that you know, lost their coverage and things like that. So there has been some good things we're respected at pandemic,

00:38:12.620 --> 00:38:29.959 Philip Grisafi: But but again, to answer your question directly about the cost, and is that only insurers now are including in their cost is what they call a Covid adjustment. And what's happened is and we've seen the data. A large segment of my clients is self-funded. So I actually get to see planes, data

00:38:29.970 --> 00:38:40.399 Philip Grisafi: And what what's happening now is that? And I feel you can read studies on the in the Wall Street Journal, or any kind of medical publications that because people couldn't go to a doctor for a year or two.

00:38:40.410 --> 00:39:07.229 Philip Grisafi: They're finding more and more later stage cancers now, because people didn't go for the screening. So now, when you went in, you did find it was early. Now you've seen a lot more, two, three, and more stages of cancer. So those are going to be expensive to treat now, and people may not survive them, so the costs ultimately will start out to be heading. But that is, you know that's that was the dark side. Dynamic was the the shutdown of all the elective surgeries and the and and the visits and everything. So

00:39:07.340 --> 00:39:15.290 Philip Grisafi: you know, insurance companies, or for-profit organizations, and they're not in they're not in a charity business, even though they tend to make believe they are.

00:39:15.300 --> 00:39:18.089 Philip Grisafi: But you know they have to pay for stuff as well. So

00:39:18.100 --> 00:39:36.620 Steven Frey @ALWAYSFREYDAY @SMBGUY: when you were talking about the prescription drugs coming from Canada and from overseas. And And now you know the Government having having some, you know, regulation legislation. That's a little bit more favorable for it. All I could think of was back like fifteen twenty years ago to the sopranos episode, where they're like. Oh, we get this many pills of Fossil Max from Canada, and

00:39:36.630 --> 00:39:48.789 Philip Grisafi: just like now, and that's actually something that's that's done from the right channels where things can actually be really sustainable, moving forward where people can have some good savings and your cost containment with their program. So

00:39:48.800 --> 00:40:03.889 Philip Grisafi: and we are seeing that which is nice, and that's, I said, with with with the cost-contained programs. You know we're actually seeing significant dollar savings i've seen you you put the Rx la for pets up there there are programs out there now, because medications for animals, you know. Skyrocket like crazy.

00:40:03.900 --> 00:40:09.880 Steven Frey @ALWAYSFREYDAY @SMBGUY: Oh, yeah, and I So I I lost my my buddy of sixteen years at the beginning of the pandemic Wilson

00:40:09.890 --> 00:40:26.790 Steven Frey @ALWAYSFREYDAY @SMBGUY: like unbelievable, but at him a good long time. We got this new Guy Samson, who was a Mini-burn a doodle across with a Mini golden doodle, and he's got some crazy food sensitivities. Yeah, I know it sounds crazy. It's It's actually a Mini Golden Mountain doodle. Technically it's a fancy month. It's basically.

00:40:26.800 --> 00:40:41.890 Steven Frey @ALWAYSFREYDAY @SMBGUY: But the you know this he's had food sensitivities. He's got weird prescriptions going on like for years, And in our world, you know, in the industry people have asked me of things like flexible spending accounts like, Can I put away money for my out of pocket expenses with my pets, and the answer is,

00:40:41.900 --> 00:40:56.470 Steven Frey @ALWAYSFREYDAY @SMBGUY: no. But nowadays more and more people are getting pet insurance, including myself, because this knucklehead has all kinds of specific needs. So yeah, talk to us a little bit about this like Has this been a big topic of conversation with cost containment in this world?

00:40:56.480 --> 00:41:14.760 Philip Grisafi: Yes, as a matter of fact, pet insurance is one of the fastest growing benefits A lot of companies are starting to offer it. I think what I mentioned earlier about getting consultative and figuring out what the populations are. You know a lot of the younger populations are, you know, clamoring for this type of of benefit, because they usually are the ones that have the pets,

00:41:14.770 --> 00:41:42.620 Philip Grisafi: and you know older people have as well. But you know there's a lot more younger people moving to the system now than than there are older people that are dying out. And so it's becoming a more and more of a mainstream benefit. So I have a lot of my clients that that do offer it um to their employees. So again, that's just something that is, there is definitely on the radar, and you know, if you don't ask the right questions, you can never come up with the right answer. And then that's part of this, that whole consultative discussion we've had during our time again,

00:41:42.650 --> 00:42:12.620 Philip Grisafi: and in the spirit of keeping things as smooth and friendly on the front end for the user experience. You know one thing that I personally seen a lot of requests around is the idea of not only having coverage for pets and having ancillary benefits for pets, but being able to automate the premiums and claims process as much as possible, you know. Obviously we always have to touch the claim somehow in some way. But you know a lot of times people want it funded by way of payroll deduction. And so I see that, being a big, a big deal as well like through the employers through the smds like this is how we

00:42:12.630 --> 00:42:13.889 you get this stuff going.

00:42:13.900 --> 00:42:41.770 Philip Grisafi: Yeah, it just becomes another line. Item on you. Check another deduction like a four, one K. Or your medical production. A lot of my employers do offer payroll reduction to make it as easy as possible. Obviously Um, depending on the size of business. The smaller businesses tend to just want their employees to direct billing because they don't. They don't have the resources to do it. So it really really gets down to the to the client on how how they want to handle again. These is always back to this conversation of asking the right questions, and then we get the right answer.

00:42:42.120 --> 00:43:12.030 Philip Grisafi: So not only not only that which definitely aroused about the right fact, finding getting to know the people first, and the culture of the business, but also thinking in terms of businesses that might not have necessarily been having this discussion ten, twenty, thirty years ago, and I go back to some of your family history of L. And B. Spamone Gardens. Not not just because i'm hungry, and I want pizza, which I am. But you know this type of this type of world with restaurant hospitality and leisure, you know, when you talk about self-level funded insurance plans,

00:43:12.040 --> 00:43:39.829 Steven Frey @ALWAYSFREYDAY @SMBGUY: and You talk about captains and things like this like a lot of times. Restaurant hospitality, leisure groups, especially if they're growing quickly and they have national franchising capabilities. They're the ones a lot of times that that can have some great conversations in this space. But you know again, if the broker or professional in question, that they've been leaning on doesn't. Keep up with this Doesn't take continuing professional education credits around these topics and just kind of wings box solutions

00:43:40.140 --> 00:43:43.480 Steven Frey @ALWAYSFREYDAY @SMBGUY: They might not be getting the best bang for their buck. Would you agree?

00:43:43.490 --> 00:43:51.600 Philip Grisafi: One hundred percent. And, by the way, i'm I will be in Staten Island this weekend, so i'll be shooting over to L. And B. Having some pieces we can come down there.

00:43:51.610 --> 00:43:56.890 Philip Grisafi: Well, i'm heading to South Jersey, otherwise I would be absolutely there with you immediately.

00:43:56.900 --> 00:44:05.960 Philip Grisafi: It's, you know, totally the type of pizza that I freeze. If I don't eat the whole thing, I get extra. It's like a week or two later. It's still the best pizza around.

00:44:06.220 --> 00:44:26.090 Steven Frey @ALWAYSFREYDAY @SMBGUY: But in addition to you know, some great, you know, testimonials for for you personally, just R. X. Valet. You have some some great reviews out there, just around the idea of having the concierge like I could serve as something that's not just a card that anybody breathing to get at the register something that takes a little bit more strategy and know how to integrate in the world.

00:44:26.100 --> 00:44:40.990 Steven Frey @ALWAYSFREYDAY @SMBGUY: You know, as as we close out this segment, and we head to the the big finish of the message part of the show. You know what what kind of what kind of. How would you wrap this up as far as the madness goes around this topic, and you know where where our heads kind of need to be. At moving forward,

00:44:41.000 --> 00:44:55.690 Philip Grisafi: I think, to wrap it up, I would say. Have an open mind, you know, and pick the right advisor. Pick someone that's gonna that's going to push you a lot of times. Advisors are tend to be afraid of their clients, and they they think they're going to lose business. And to me

00:44:55.700 --> 00:45:12.089 Philip Grisafi: you're doing it the service to you, to your potential client or a client, if you're not asking the hard questions. Ah! Because business owners need to know. They need to understand that this is this big money involved here, and so they they need to be given. At least the you know what's what's available to them.

00:45:12.100 --> 00:45:27.789 Philip Grisafi: It's like the biggest thing, and this is not on my side of the insurance. But when you get into the home insurance or car insurance which very, very rarely used. It's not. It's not a transactional business, but the worst time to find out that something's not covers. When your house birthday,

00:45:27.800 --> 00:45:35.589 Philip Grisafi: Then, all of a sudden you pull out the contract all of a sudden this wasn't covered that wasn't covered, and it's no no no recourse at that point.

00:45:35.600 --> 00:45:41.730 Philip Grisafi: So that's why it's important that you ask all the questions on the front end, and you have the right advice that understands the marketplace.

00:45:41.740 --> 00:45:43.829 Philip Grisafi: That's That's that's an inn, sure,

00:45:43.840 --> 00:45:59.240 Steven Frey @ALWAYSFREYDAY @SMBGUY: and either side should not be skittish around asking the the hard questions with worries of premiums going to increase somehow. For some reason I totally agree. We're going to take a quick break, but we will be right back with Phil Gersafi, Vice President of business Development at risk strategy. Stay with us.

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00:48:00.420 --> 00:48:06.570 Steven Frey @ALWAYSFREYDAY @SMBGUY: Welcome back to always Friday with me, Stephen Fry your Smb. Guy. We are chatting with films.

00:48:06.580 --> 00:48:32.049 Steven Frey @ALWAYSFREYDAY @SMBGUY: Vice President of business development at risk strategies, some awesome tidbits from Phil here today. I really hope you guys were taking notes and listening. If not, you can always come back and listen to this again, and please do, obviously. But the messaging part of the show is how we're going to round everything out. The whole idea here, Phil, for weekend insight. The Monday impact. You've given everybody some great food for thought here today, you know. I just a couple of quick thoughts that I had from my side.

00:48:32.060 --> 00:49:01.280 Steven Frey @ALWAYSFREYDAY @SMBGUY: Don't fall into the trap of being commoditized. Many insurance professionals do that again. I think of it also in terms of the words expense, reduction. I'm going to try to find you the cheapest price on whatever we're doing. You really have to align with the people and the processes who can help you differentiate from the competition and provide some freakin value. There's all kinds of value to be provided with discussions like this nowadays, but so I know you're a big, never quick, guy, So lay it on us. What some of your quick, sound bites to send everyone home for the weekend and be on vacation.

00:49:01.440 --> 00:49:05.770 Philip Grisafi: So basically i'm staying between you and your vacation. But

00:49:05.820 --> 00:49:16.989 Philip Grisafi: before the break you mentioned about increasing premiums, and you can't be afraid if someone's going to get a twenty percent rate increase, and it's justified. Then you have to be willing to just

00:49:17.000 --> 00:49:18.589 put it out there and not be afraid.

00:49:18.600 --> 00:49:31.619 Philip Grisafi: A lot of people are afraid. And so you know I've never been afraid to deliver the bad news. It's just It's just part of it. It's not all you know roses and can. So I just wanted to clarify. Now, as far as as far as wrapping up, I think, in terms of

00:49:31.630 --> 00:49:47.290 Philip Grisafi: something that you may remember. I'm trying to remember, because, like you said by now, was it just a little bit afternoon? Pretty much five o'clock somewhere? So everyone's going to be, you know, starting to think about the the boat, or where are they going on vacation in the next few hours? And they're gonna just forget about everything but

00:49:47.300 --> 00:49:53.169 Philip Grisafi: that you should remember. And just these three little tidbits Don't, quit Don't ever quit,

00:49:53.180 --> 00:50:10.740 Philip Grisafi: and just keep it. If you can remember anything to say, just remember that, and by by by Don't quitting I mean, never give up and always follow ideas until you get a real roadblock, and then then you just try to find another idea, because there's always an answer to a question. It's just a matter how far you want to take it. So just Don't.

00:50:11.060 --> 00:50:18.990 Philip Grisafi: Life is not all for moody gardens pizza as though i'm jealous right now, staring at what I can't wait. I can't wait for this week at the

00:50:19.000 --> 00:50:22.009 Philip Grisafi: look. Man. I'm all excited.

00:50:22.020 --> 00:50:39.589 Philip Grisafi: I'm excited for you. I'm going to live vicariously through you while i'm trying to so during speech and sun time. But you know one thing that you said along the way is insurance is the vehicle and a transfer risk, and I think that's an important discussion and point because a lot of times from the insurance professionals. In addition to the clients.

00:50:39.600 --> 00:50:55.299 Steven Frey @ALWAYSFREYDAY @SMBGUY: It's. It's just a product. It's a particular solution that's out there to them. So it's just you know, jam them into whichever one is going to make sense, and a lot of times it's a it's a hail, Mary. Desperation discussion, too, where kind of like you said. People are afraid to deliver the bad news if there is a twenty percent increase,

00:50:55.310 --> 00:51:11.039 Steven Frey @ALWAYSFREYDAY @SMBGUY: but it's in the act of staying away from it and trying to jam something that doesn't fit. They're not really learning the business and learning the people, and they're not learning what might be the best fit for them, and how to best communicate it. It's just it kind of makes a mess of everything to think of it that way.

00:51:11.050 --> 00:51:15.980 Philip Grisafi: Well, I I I'll probably be the least insurance prefer and type apple.

00:51:16.000 --> 00:51:23.740 Philip Grisafi: I don't sell insurance. I sell ideas, and and me less. Insurance is best. Leave it or not, even though I get paid to sell insurance

00:51:23.750 --> 00:51:38.720 Philip Grisafi: less insurance is best. That's why I love self-funding medical clients that are better of the size that can do that because they control the opportunity, control the cash. They control the plan designs. They have more control, less money you give to the insurance companies the better off you are

00:51:38.730 --> 00:51:45.690 Philip Grisafi: programs that promise dividends anytime you get a dividend and insurance. You've overpaid. That's the only way you can give me one. Thank you.

00:51:45.700 --> 00:51:59.300 Philip Grisafi: My clients would rather have their dividends on the front end. They'd rather not pay it. And that's that's that's a that's a that's a that's another. Take Take take home Keep as much of your money in your pocket as possible. Give as least you can to the insurance, because you can.

00:51:59.310 --> 00:52:09.470 Philip Grisafi: You can do better. It's like tax. You can do better with your money than the government. It's not that they're bad. They're bad people. It's just that they're just so big and such bloated that they don't know what they're doing.

00:52:09.610 --> 00:52:19.769 Philip Grisafi: You know it's important to you, and I think the last takeaway I want to give people is really be humble just to remember that when you're talking to people and listening,

00:52:19.780 --> 00:52:31.490 Philip Grisafi: listen properly, don't be looking at your phone, or be, you know, turning your head. Listen to what people have to say, because, like I said early in my career I learned from people just little stupid things,

00:52:31.500 --> 00:52:47.640 Philip Grisafi: you know. My dad used to say rolls and bears make money. Pigs get slaughtered, you know. Things like that that are stuck in my mind since I was this high. You know just little tidbits that can really impact your life. So just be humble and listen. And the biggest piece of that

00:52:47.800 --> 00:53:01.089 Philip Grisafi: your idea! It be the best idea at the moment. But, man. Once this guy starts to go south you're going to be wedded to an idea that's going down the tube. You're going with it. So try to pivot and be ready to jump off that horse you can keep on back. I grew up around horse racing,

00:53:01.100 --> 00:53:07.589 Philip Grisafi: trying to call my Uncle Jimmy with the Lmb. Guy. We used to go to Trotas at Yonkers and everything

00:53:07.600 --> 00:53:24.289 Philip Grisafi: back in the day. He's got to be ready to jump into another horse and give your horses out to back, so those those would be my takeaways. I hope people just really understand that, and i'm i'm honored and privileged to have been on your show, and I hope people at least learn something and and walk away with leasing materials.

00:53:24.300 --> 00:53:42.969 I love the idea of bulls and bears make money and pigs get slaughter, because, like all right. So you gotta get greedy when other folks are getting fearful, and you gotta get fearful when other folks are getting greedy. It's kind of a war buffet thing, and the bulls and bears make money. People think of it as bulls. Good bears bad, but it's bulls make money now. Bears make money later.

00:53:43.440 --> 00:53:46.589 Philip Grisafi: The way it is That's That's our system.

00:53:46.600 --> 00:54:05.039 Steven Frey @ALWAYSFREYDAY @SMBGUY: So thank you so much for for coming on the show with me, Phil, Today I really appreciate it. I think the topics are very important one for both, like I said, insurance professionals and clients alike. I know you feel the same way. You can get in touch with Phil via me and throw your phone number out there for everybody, because I know You' to do it that way.

00:54:05.050 --> 00:54:06.839 Philip Grisafi: Sure six, oh, three,

00:54:07.390 --> 00:54:09.230 Philip Grisafi: four, nine, six,

00:54:09.260 --> 00:54:12.329 Philip Grisafi: two hundred and twenty-nine available, twenty, four over seven,

00:54:12.810 --> 00:54:18.789 Philip Grisafi: absolutely that's The best way to find me these days is by cell phone, by text. It's too many freaking emails these days

00:54:18.800 --> 00:54:42.449 Steven Frey @ALWAYSFREYDAY @SMBGUY: before I let you go for the day, and before I go on vacation I would love to share the answers to the questions that I asked you about your favorite movie, your Tv show character, your favorite of your Tv show and your favorite musical instrument. We are a to you like to go play it. So without further ado, And your favorite movie carry that character was Harry Callahan for Dirty Harry. I think everyone can visualize

00:54:42.460 --> 00:55:10.689 Steven Frey @ALWAYSFREYDAY @SMBGUY: doing the cyber roll. Go ahead and make my debt. But Madman called himself a scorpion killer menaces the city tough as nails. Cop thirty Harry Callahan assigned to track down and f it out. To create a psychopath. The world of insurance is can definitely be a turkey world, for sure. But you want to. You want a professional that can not only hold your hand, but show you some of the newer ways to navigate the industry. So you know, Pennies was always good at thinking honestly with fresh tactics, intimidating the hell out of everybody.

00:55:10.700 --> 00:55:14.890 So your favorite movie, you said, was gladiator,

00:55:14.900 --> 00:55:43.749 Steven Frey @ALWAYSFREYDAY @SMBGUY: Foreman Robin. The former Rome in general, sets out to exact his revenge against the corrupt Emperor, who murdered his family and sent him into slavery couldn't help but notice the kind of relationship and analogy here, as we're talking about helping people who feel like slaves to insurance companies and drug companies strategize just a little bit better about how to combat the costs, and really how to be as effective as possible for for the population of their business kind of feels like maxim is going up against them for about this

00:55:43.760 --> 00:55:45.309 up and make that conclusion.

00:55:47.690 --> 00:55:56.739 But as far as the music goes, and I know music's important to you as it is to me as well. You had to mentioned the saxophone, and you said your dad,

00:55:56.750 --> 00:56:14.250 Steven Frey @ALWAYSFREYDAY @SMBGUY: It strikes a chord with me. My dad's a guitar guy, and I'm a saxophone player. But my grandfather was a jazz musician, and he played damn here everything. But i'm not sure which sax player reminds you the most of your dad. But the most common musician people drop on me is

00:56:14.290 --> 00:56:17.230 Steven Frey @ALWAYSFREYDAY @SMBGUY: but what what other instruments did he play

00:56:17.240 --> 00:56:20.239 Philip Grisafi: now? The clarinet piano, flute, piccolo.

00:56:21.240 --> 00:56:22.540 Philip Grisafi: That's enough.

00:56:22.590 --> 00:56:27.590 Philip Grisafi: I would couldn't the same with Crap, but he complained

00:56:27.600 --> 00:56:34.720 Philip Grisafi: the saxophone and the piano was for me. I really wish I kept up with it at this point. But my dad right there

00:56:34.730 --> 00:56:37.209 Philip Grisafi: I was going to say I thought I thought I found him

00:56:37.640 --> 00:57:06.460 Steven Frey @ALWAYSFREYDAY @SMBGUY: but once again. Thank you so much for joining me here today. This is This is an important stuff, great topic of conversation. People need to be aware of their options, both on the trusted advisor insurance, professional side as well as the end user business owner and the employee side of things. It's not just about what you see in marketing and on billboards and on commercials, and at the cash registered in the pharmacy. When you see those little good R. X advertisements, there is a little bit more thought that can go over to. So coming up next week, we're going to talk about shifting perceptions through

00:57:06.470 --> 00:57:36.350 performance with my new friend, Adrian Clancy, executive director of Clancy Works Dance Company. This is a nonprofit that's on a phenomenal mission to provide the dance experience to folks who don't necessarily have the means to afford it. I can relate at this point, having two daughters, because I think dance is costing me around one thousand dollars per month between the two of them. But that's a topic for another day's discussion. Until then, thank you for joining us on always Friday. We hope you gain some weekend insight. Make a Monday in back. Have a great weekend, everyone. We will see you next week.

00:57:36.360 --> 00:57:41.809 Friday. Eleven A. M. Eastern time right here on talk radio Dot. Nyc: Take care, everyone.

00:57:41.820 --> 00:57:42.850 www.TalkRadio.nyc: Thank you. Again.