Articles

How One Advisor is Driving Healthcare Savings

March 5, 2019

Joey Huang was destined to become involved in healthcare, but not as envisioned. A trained dentist and OB/GYN’s son, his real passion was cars. So after deciding not to pursue a proud family tradition, he instead co-founded a car dealership.

But the small-business owner of Great Lakes Auto Network (GLAN) in Ashtabula, Ohio northeast of Cleveland — whose first car dealership was adjacent to his father’s medical practice — grew tired of providing costly and subpar health benefits. His goal was to improve that coverage in hopes of enhancing recruitment and retention. What transpired exceeded those expectations.
 

Self-Funded Insurance Cuts Dealer's Costs

January 14, 2019

When Joey Huang, co-owner of Great Lakes Auto Network in Ohio, looked at the cost of providing health care insurance to his almost 300 employees, he figured there must be a cheaper alternative.

What he found — self-funded insurance — has cut employees’ premiums by thousands of dollars a year, saved the group more than $1.8 million over six years and helped Great Lakes expand from three dealerships to six, doubling its work force along the way.

 

Read More