In the competitive world of insurance, few leaders have made as significant an impact as David Contorno, Founder & CEO of E Powered Benefits. Renowned for his outspoken critique of traditional insurance carriers and their detrimental effects on employers, clinicians, and patients, David has emerged as a pioneering figure within the industry.
Drawing from his extensive experience as a seasoned agency owner and successful consultant, David recognized the pressing need for change. Fueled by a passion for transparency and a desire to empower employers, he embarked on a groundbreaking journey to establish an anti-BUCAH (Blues, United, Cigna, Aetna, and Humana) brokerage. With an unwavering focus on reshaping health plans, David aimed to re-establish control in employers’ hands while prioritizing affordable, high-quality care for all covered patients.
David’s trailblazing efforts have not gone unnoticed. Garnering accolades and recognition, he has been honored as Forbes’ Most Innovative Insurance Broker, BenefitsPro’s Broker of the Year, and Validation Institutes’ Advisor of the Year. Furthermore, his tireless work in reforming the US healthcare system has earned him a place in multiple New York Times Best Selling books.
Beyond his impressive accolades, David actively engages with audiences nationwide, spreading his wealth of knowledge and expertise. Passionate about educating fellow advisors and industry stakeholders, he dedicates himself to equipping them with the tools and insights required to deliver high-performance health plans to employers across the country.
Empowering Employers and Employees
E Powered Benefits specializes in providing consulting services to employers and industry brokers / consultants. The company introduces a ground-breaking approach to constructing a unique type of health plan that achieves what may appear impossible but is actually remarkably simple. Its aim is to create a health plan for employees that significantly reduces costs for employers by 40-60% compared to traditional plans, while offering members the benefit of NO OUT-OF-POCKET expenses for most services. Moreover, its plan incentivizes improved clinical outcomes and enhances overall quality of life.
At E Powered Benefits, the company offers comprehensive educational resources, including a validated course accredited by The Validation Institute. Additionally, its annual conference attracts a diverse audience of 450 or more brokers, plan partners, and doctors, serving as a platform for collaboration with like-minded individuals and organizations within the industry. It actively engages with those who are already implementing similar plans or express a desire to do so in the near future, recognizing that progress in its field benefits all stakeholders.
While E Powered Benefits does provide a full benefits package, its primary focus and unique selling proposition lie in revolutionizing the most crucial aspect of employment decisions: the health plan.
A Passion Unveiled
David’s journey in the insurance industry began at the age of 12, but it wasn’t until he turned 17 that he found his passion in benefits and health insurance. For nearly 30 years, he dedicated his career to providing traditional broker services and offering conventional health plans. Alongside his insurance work, David also nurtured a love for photography, which led him to pursue a college education in the field. He even gained experience by working at a renowned chain of camera stores, although the company has unfortunately closed its doors since then. Despite his detour into photography, David’s professional path has predominantly remained rooted in the same industry he thrives in today.
Teaching and Leading by Example
David believes that teaching is a crucial element in achieving his goals. He actively engages in teaching and mentoring endeavors, which have proven to be highly rewarding. By sharing his knowledge and experiences, David often receives significant returns on his investment. He focuses on mentoring consultants individually, instructs the CHVA course developed by his partner Emma Fox, and frequently speaks in educational settings.
Furthermore, David believes in practicing what he preaches when it comes to healthcare consumption. He applies the same metrics and principles that he advises his clients to use when making healthcare decisions for himself and his family. It is essential to him that people recognize his commitment to action rather than mere words. David acknowledges that the industry is filled with rhetoric and empty promises. For instance, when a Third-Party Administrator approaches him, claiming to support the same ideals, he challenges them by asking if they are familiar with the tagline from the Capital One commercial, “What’s in your wallet?” If they produce a carrier ID card, he interprets it as a sign that they do not believe in practicing what they advocate, suggesting a double standard.
Through his teaching, mentoring, and personal example, David strives to bring about a shift in the industry, where consistency and integrity in applying healthcare metrics and incentives become the norm.
A Profit-Driven Model for True Health
David is passionate about reshaping the healthcare system to move away from a profit-driven model that primarily benefits when individuals are sick. He acknowledges the existence of for-profit healthcare systems and recognizes that even non-profit systems are motivated by profit, as evidenced by high executive compensation and tax exemptions, which ultimately burdens the community with higher taxes.
However, David doesn’t advocate for eliminating the for-profit aspect of healthcare entirely. Instead, he envisions a system where profit is maximized through keeping people healthy. In the environment of the last few decades, at least, if our society were to achieve true health, every healthcare system and insurance carrier would go out of business. His goal is to establish a society where everyone can access quality and affordable healthcare without fear of financial ruin. By creating such a standard, people would be relieved of the added stress of healthcare costs, allowing them to focus solely on dealing with the physical toll of illness, which is already challenging enough.
David points out that the United States currently faces some of the worst clinical outcomes among industrialized nations, while also experiencing significantly higher healthcare costs. The scale of these costs is often so substantial that charts specifically tailored to the US are required when comparing it to other top-ranking countries.
Driving Change
As the Founder and CEO, David’s responsibilities encompass speaking engagements, sales activities, and teaching endeavors. He frequently receives invitations to contribute to publications, write articles, and deliver public speeches. The most rewarding part of his day is when he has conversations with Americans, especially business owners, and witnesses the moment they grasp the backwardness of our healthcare system compared to other sectors of the economy.
David believes that the healthcare system isn’t broken; it’s working exactly as it was designed, but it doesn’t prioritize the needs of employers, doctors, and patients—the key stakeholders. He has a talent for simplifying complex healthcare concepts into understandable stories, helping people realize the flaws in our current approach to healthcare and health insurance. His goal is to inspire a shift in thinking and create a society where everyone has access to quality, affordable healthcare without the fear of financial hardship.
Redefining Healthcare for Positive Outcomes
David’s greatest professional risk was making the decision to stop selling traditional healthcare plans. Instead, he chose to tie his compensation to effectively reducing costs—a departure from the common practice where brokers and consultants are rewarded when their clients’ expenses rise. Additionally, he committed to actively participating in the care and well-being of each member on every plan they service.
This shift in approach has yielded positive outcomes both clinically and financially. By actively engaging in members’ healthcare, David’s company has achieved improved clinical outcomes while simultaneously saving employers substantial amounts of money. Furthermore, they have gone the extra mile by waiving all member out-of-pocket costs, ensuring that individuals can access the necessary care without worrying about financial burdens that may jeopardize their basic needs, such as housing and food.
By taking these risks and embracing a new model, David has been able to create a system that prioritizes positive health outcomes, cost reduction, and the overall well-being of the individuals they serve.
Building a Community
David’s vision is focused on domestic expansion rather than global reach. He aspires to build a community of consultants, employers, and employees/patients who will challenge the flaws within the healthcare system, which is both detrimental and exorbitantly expensive. His goal is to create incentives for healthcare providers to prioritize better clinical outcomes, complete price transparency, and genuine honesty. David urges every business owner and patient to apply the same metrics, incentives, and intelligence they employ when making other purchasing decisions.
He highlights the lack of price knowledge in the healthcare industry, which is unlike any other consumer market. In healthcare, both the end users and the service providers are often unaware of the costs involved until after the fact. This lack of transparency is a significant issue that David aims to address. He believes that everyone should have access to information regarding the price of healthcare services, just as they do with any other product or service. Additionally, he emphasizes the need for individuals to invest time and effort into researching and evaluating their healthcare providers, as they would when making other important purchases, such as a vacuum cleaner on Amazon.
