Episode #16 - Mythbusters… Self-Funding Edition with DSST & HUB

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GUESTS

Episode Guests:

• Gary Clark, Senior Vice President of HUB International. Connect with Gary on LinkedIn 
• Ashley Wiegner, Chief People Officer of DSST Public Schools. Connect with Ashley on LinkedIn
• Nick Plantan, Chief Operating Officer of DSST Public Schools. Connect with Nick on LinkedIn
  
  

Websites:

https://www.hubinternational.com/

https://www.dsstpublicschools.org/

EPISODE SUMMARY

In this conversation, the participants discuss the topic of self-funding benefits for charter schools. They address common misconceptions and myths surrounding self-funding and highlight the importance of strategic decision-making in this area. The conversation begins with introductions and housekeeping items, followed by a discussion on the background and roles of the participants. The conversation then delves into the significance of self-funding benefits for charter schools and the impact it can have on attracting and retaining top talent. The first myth discussed is the belief that self-funding requires additional staffing and resources. This conversation explores the myths and misconceptions surrounding self-funding in the context of charter schools. The discussion covers topics such as managing benefits before self-funding, the financial cliff, expense perspective, unlimited liability, inappropriate risk with public funds, ongoing work and responsibilities, financial fit for the organization, starting the self-funding journey, educating CFOs on self-funding, and the benefits of self-funding. The speakers provide insights and personal experiences to debunk these myths and highlight the advantages of self-funding.

EPISODE TAKEAWAYS

• Self-funding benefits is a strategic decision for charter schools to attract and retain top talent.
• Common misconceptions about self-funding benefits can hinder schools from exploring this option.
• One myth is that self-funding requires additional staffing, but in reality, it involves different, more strategic work.
• Strategic decision-making and partnership with experts can help charter schools navigate the complexities of self-funding benefits. Self-funding allows for more strategic management of benefits and a shift from reactive to proactive decision-making.
• Self-funding can provide cost savings and financial predictability over time.
• Stop loss coverage and other tools can mitigate the risk associated with self-funding.
• Self-funding offers the opportunity for customization and better care coordination for employees.
• Self-funding can lead to greater transparency, data-driven decision-making, and the ability to allocate resources strategically.

RESOURCES

Condition Critical: Findings from BuyQ’s National CMO Health Benefits Survey: https://buyq.org/cmohealthbenefitssurvey/

Charter School Insurance: https://www.hubinternational.com/industries/education-insurance/charter-school-insurance/

Blog: How DSST Public Schools Took Control of its Health Insurance Costs: https://buyq.org/resources/2023/03/how-dsst-public-schools-took-control-of-itshealth-insurance-costs

CHAPTERS

00:00 Introduction and Housekeeping

03:01Setting the Stage for the Conversation

09:00 Introductions and Backgrounds

11:19 Importance of Self-Funding Benefits

13:15 Myth #1: Staffing

14:27 Managing Benefits Before Self-Funding

16:10 The Financial Cliff

23:15 Unlimited Liability

27:41 Inappropriate Risk with Public Funds

31:38 Ongoing Work and Responsibilities

36:31 Financial Fit for the Organization

42:35 Starting the Self-Funding Journey

45:15 Educating CFOs on Self-Funding

47:43 Benefits of Self-Funding

51:12 Resources for Self-Funding

ABOUT OUR HOST

Daniel Casselli is a life-long learner whose passion for education has driven his professional endeavors. He is a former classroom teacher and youth ministry director whose entrepreneurial spirit landed him in the world of education technology. At EVERFI Inc., Daniel helped run the business development efforts for EVERFI’s Financial Education Program and the company was eventually sold to Blackbaud for $750M in 2021. Shortly before EVERFI’s acquisition, Daniel joined Class Technologies as one of the earliest sales hires and went on to lead K12 Enterprise Sales and helped the company land its first 100+ K12 customers across public, charter, and private schools. Daniel brings his unique experiences to BuyQ where he is focused on growth, operational excellence, business strategy, and client satisfaction. He is a graduate of Grove City College where he studied Religion and History. 

You can listen to Charter School Insider: Lessons from the Nation's Top Charter School Operators on your favorite podcasting platform...

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