Captive Insurance – How it Can Reduce Your Insurance Premiums, Increase Your Coverage while Reducing Your Taxes. With Guest Jarid Beck. Host Alex Vorobieff. #46


Manage episode 230074443 series 2402571
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The focus of this week’s Confident ROi is on captive insurance with someone who knows the industry inside and out, Jarid Beck of Risk Management Advisors.

Jarid elaborates on what a captive is, how it functions in the real world, and why they provide many benefits to business owners.

He talks us through the tax advantages of setting up a captive, and reveals how one company has managed to keep their health insurance premiums at the same price as they were 10 years ago by using a captive insurance company.

Finally, Jarid warns of the possible tax abuses of captives to watch out for and Alex discloses his real life business experiences in dealing with captives for his clients.

Jarid’s website -

Topics Discussed:

What is captive insurance? – 2:26

How do companies use this form of insurance? – 4:21

What are the tax advantages of setting up a captive? – 7:04

What are the different types of captives? – 10:55

How does the captive save businesses millions every year on healthcare costs? – 13:56

How one of Jarid’s clients pays half of what they would pay to an outside insurer and pay the same premiums as they did in 2010 – 18:06

How captives save money on healthcare costs by dealing with hospitals directly – 19:22

How do captives work in relation to workers’ compensation? – 25:31

What is papering? How can captives become versatile? – 30:28

What are the potential issues surrounding captive tax abuses? – 31:38

Why captives are a great wealth building tool for companies – 33:15

Why captive insurance companies make more sense for larger businesses – 35:21

Alex’s real life experiences with captives – 36:39

What is the role of a captive manager? – 39:03

Jarid’s contact details – 40:02

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