Milliman, Inc.

So, David, one of my...

Started this business inside a company called Milliman.

And one of the reasons I thought that made sense, my previous company I talked about earlier was in the supply chain.

Getting the first few big companies to work with us and provide us their supply chain data was very, very difficult.

And we were like, well, we already have 15 million in the pool.

They're like, oh, well, this doesn't matter now.

Well, with Milliman's brand and trusted reputation, when I went to clients and said, I want to build a contributory business model, you know, base business.

So you will provide me your data and I get to use that on an ongoing basis.

in reduction of the cost of GLP-1s when people are buying them directly, particularly the semi-compounded versus the name brands.

Is this the kind of thing, this movement away from employer health coverage? I saw the latest stats from Milliman where employer coverage, family of four, 35,000 a year, median income in our country, 84,000 or 85,000 a year.

Those numbers obviously just don't work.

Is this – are there possible benefits here to where we get out of insurance and everything in healthcare being paid for with other people's money? The stark reduction in costs for GLP-1s as they've gone to consumers is, to me, fascinating and striking how the companies have had to come to be much more competitive price-wise.

Um, I think it comes down to a lot of front end work, right? Um, we, we need to either do health statements on people.

We need to have a Milliman or DRX run, uh, run your script costs.

Um, like if you want to try to save money, you got to put in the front end work.

Um, and I think there are options out there.

We'll get to all that and more right after these retirement headlines.

[whooshing] The title of this article is from Milliman, and it's the 2025 Milliman Long-Term Care Index, and it was released, uh, I believe it was in January of this year.

It had various authors.

So here's a number you're gonna see quoted a lot this year, and that's $135,000.

That's the 2025 Milliman Long-Term Care Index, which was published in January from the team of actuaries at Milliman, and it's their estimate of what an average 65-year-old would need to set aside today to cover the expected lifetime cost of long-term care.

Breaking that number apart a little bit because it's easy to misread, that's not necessarily the price of a nursing home.

It's a lump sum.

Now, here's why that gets interesting if you're a retirement nerd like me, anyway.

And that's something we'll talk about maybe a little bit later, just talking about the basics of ETFs, because it seems like everybody wants to launch one, but it's not that easy.

On the synthetic income side, I do think there's differences in the products, right? If you look at what Neos did, they built, you know, these are X Milliman guys that understand writing options.

They're actively managed.

Yes, their indexes in terms of their underlying holdings, they're just tracking the keys, tracking SPY, tracking IFA.

Align talks about having, you know, third party actuarial assessments finding savings of 12%.

This is a conversation that's been going on for years, right? There's a great Milliman Society of Actuaries report that looks at DPC cost savings and walks through how it can theoretically find it, um, that if you're interested in this space, I would highly recommend checking out.

The other interesting question that is related to that to some degree is how you drive awareness of these models in the employee population, right? You are finding people who are driving cost savings because they are, they, they, they want to participate in these models, and they are more likely to drive cost savings.

The question then is how do you drive awareness inside an employee base so that more employees start using these models? And to me, those are the two interesting things to keep an eye on here.

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