Patrick E. Wynne

01/07/2026

Let go of the outcome and your income will increase.

11/30/2025

250!

This number may look small but I’m always reminded of what it would be like to have 250 people in a room!

Sorry I have not posted a video/reel in a long time but I appreciate the people who continue to subscribe.

To the 250 people who choose to listen to me about all things business and insurance - it brings me motivation.

Thank you.

05/04/2025

May the 4th be with me!

Milestone achieved ✅

With 225 followers on my YT channel this is cool to see.

I might not talk about exciting stuff (and I may look tired in my videos) but I’m happy about this achievement.

Follow me here: https://youtube.com/?si=wm33wpCOzKGa1dYG

04/26/2025

Your 𝗲𝘀𝘀𝗲𝗻𝘁𝗶𝗮𝗹 insurance checklist (high-income earners need all these):

𝗖𝗮𝗿 𝗶𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲
Bodily injury liability and property damage liability are required in almost every state. Loyalty to a provider can render discounts, and good driving can be rewarded with a lower premium (by most insurers). Maxed-out liability is always the best option for protection.

𝗛𝗲𝗮𝗹𝘁𝗵 𝗶𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲*
Catastrophic medical bills are a leading cause of financial distress and bankruptcy. I always say: "Be comfortable paying a premium if nothing happens, and comfortable paying an out-of-pocket if something does happen."

𝗗𝗶𝘀𝗮𝗯𝗶𝗹𝗶𝘁𝘆 𝗶𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲
Protect your earnings and future earnings. Most disabilities are caused by illness, but also include accidents.

𝗟𝗶𝗳𝗲 𝗶𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲
Term or Whole. Pick one that suits your situation, both have a place. People forget that life insurance can be accessed while alive when you have a chronic or terminal illness. LTC (Long Term Care) can be an added rider to your whole life policy.

𝗛𝗼𝗺𝗲𝗼𝘄𝗻𝗲𝗿𝘀 𝗶𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲
Protect your home. The recent fires in LA put a spotlight on dwelling coverage to rebuild after a loss. (I made a separate step-by-step post on this matter)

𝗨𝗺𝗯𝗿𝗲𝗹𝗹𝗮 𝗶𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲
An extra layer of liability protection. Ex. you cause a car accident and are sued for $1M, but your auto policy only covers $300k, umbrella insurance would cover the remaining $700k, protecting your savings, home, and future earnings.

*I help in finding affordable health insurance for you, your family and small business

04/14/2025

Many people see health insurance as just another monthly expense.

But in reality, it’s something much bigger:

𝐈𝐭’𝐬 𝐩𝐫𝐨𝐭𝐞𝐜𝐭𝐢𝐨𝐧.

But why do we value protection?

Because of loss aversion - people are wired to fear loss more than they value gain.

The research shows that humans will go to great lengths to prevent a loss, even if the cost seems high upfront.

But here’s the truth:

🚨 Medical debt is the #1 cause of bankruptcy in America.

�🚑 A single accident or illness can cost more than a lifetime of premiums.

𝙎𝙝𝙞𝙛𝙩𝙞𝙣𝙜 𝙩𝙝𝙚 𝙈𝙞𝙣𝙙𝙨𝙚𝙩: 𝙒𝙝𝙖𝙩 𝘼𝙧𝙚 𝙔𝙤𝙪 𝙍𝙚𝙖𝙡𝙡𝙮 𝙋𝙖𝙮𝙞𝙣𝙜 𝙁𝙤𝙧?

💡 You’re not just paying a premium—you’re buying peace of mind.�💡 You’re not just getting a policy—you’re ensuring access to care when it matters most.�💡 You’re not just covering yourself—you’re protecting your family from financial burden.

The cost of 𝗻𝗼𝘁 having insurance can be devastating.

That’s why the real question isn’t “How much is the premium?”—it’s “How much am I protecting?”

𝐏𝐫𝐨𝐭𝐞𝐜𝐭𝐢𝐨𝐧 > 𝐏𝐫𝐞𝐦𝐢𝐮𝐦

04/12/2025

Insurance isn’t just about policies—it’s built on a precise science.

𝗬𝗲𝘀 𝘀𝗰𝗶𝗲𝗻𝗰𝗲!

At the core of insurance lies actuarial science, a discipline that quantifies risk using probability analysis and statistical modeling to predict financial outcomes.

𝟓 𝐀𝐜𝐭𝐮𝐚𝐫𝐢𝐚𝐥 𝐒𝐜𝐢𝐞𝐧𝐜𝐞 𝐏𝐫𝐢𝐧𝐜𝐢𝐩𝐥𝐞𝐬 𝐢𝐧 𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞

1️⃣ Risk Assessment – Actuaries analyze personal and group data (age, health, lifestyle) to assess potential risks.

2️⃣ Probability Modeling – Using historical data, insurers predict the likelihood of claims from events like accidents or illnesses.

3️⃣ Law of Large Numbers – The more policyholders in a group, the more predictable the overall risk, stabilizing costs.

4️⃣ Risk Pooling – By combining risks across a population, insurers create sustainable coverage for large, unpredictable losses.

5️⃣ Underwriting & Pricing – Actuarial science helps determine fair premiums based on data-driven risk evaluation.

In health insurance, actuarial science assesses key factors such as:

✔ Disability rates�
✔ Morbidity (disease occurrence)�
✔ Mortality (life expectancy trends)�
✔ Fertility trends

For business owners and individuals, understanding these principles helps explain why premiums vary and how risk is calculated.

𝗕𝗼𝘁𝘁𝗼𝗺 𝗹𝗶𝗻𝗲:

Actuarial science ensures that health insurance remains sustainable, predictable, and fair for both insurers and policyholders.

04/11/2025

Want to know how a golf tournament makes $150M?

The Masters kickoff today. ⛳️

An oldie but fun video I did from 2 years ago!

Do you like golf? You have to hear about the money behind the Masters Tournament. A lot of green - in the form of the perfectly manicured course, bulky green...

04/10/2025

A well-established concept in behavioral economics and cognitive science says:

𝙏𝙝𝙚𝙧𝙚’𝙨 𝙖 𝙧𝙚𝙖𝙨𝙤𝙣 𝙮𝙤𝙪 𝙝𝙖𝙫𝙚 𝙞𝙣𝙨𝙪𝙧𝙖𝙣𝙘𝙚.

Or a reason you should if you don’t.

𝐈𝐭’𝐬 𝐜𝐚𝐥𝐥𝐞𝐝 𝐥𝐨𝐬𝐬 𝐚𝐯𝐞𝐫𝐬𝐢𝐨𝐧.

Nobel Prize winner Daniel Kahneman (2002) and Amos Tversky published a study titled: “Prospect Theory: An Analysis of Decision under Risk”, 1979.

The study involved a series of experiments where participants were asked to make choices between different monetary gambles. The results showed that individuals were more sensitive to potential losses than to potential gains.

This work laid the groundwork for understanding how loss aversion affects decision-making in various contexts, including financial markets, consumer behavior, and insurance.

From a biological standpoint, the psychology of loss aversion may be linked to evolutionary mechanisms. Humans have evolved to prioritize avoiding threats and losses, as these have immediate and severe consequences for survival.

𝙄𝙣𝙨𝙪𝙧𝙖𝙣𝙘𝙚 𝙞𝙨 𝙝𝙚𝙧𝙚 𝙩𝙤 𝙥𝙧𝙤𝙩𝙚𝙘𝙩 𝙮𝙤𝙪𝙧 𝙗𝙞𝙤𝙡𝙤𝙜𝙞𝙘𝙖𝙡 𝙘𝙤𝙣𝙘𝙚𝙧𝙣𝙨. 🤓

Reminder:

The #1 cause of bankruptcy in America is due to medical debt.

Let me help you find the best insurance + the best price.

04/08/2025

What’s the science behind insurance?

𝗧𝗵𝗲𝗿𝗲’𝘀 𝗮 𝘁𝗲𝗿𝗺:

Actuarial science.

This science attempts to quantify the risk of an event occurring using probability analysis to determine its financial impact.

In health insurance, including employer-sponsored plans actuarial science includes analyzing rates of

• Disability
• Morbidity
• Mortality
• Fertility

As a small business owner and even an individual, it’s good to know the science (it affects your premium).

Here are 5 scientific keys within the insurance framework:

1. Risk management - insurers assess risk associated with a particular individual or group based on certain factors (ex. age, medical history, lifestyle)

2. Probability theory - insurers use probability models to estimate the likelihood of various events occurring, such as accidents, illnesses or natural disasters. These models are based on historical data and statistical analysis.

3. Law of large numbers - by insuring a large number of policyholders, insurers can predict overall losses more accurately. This ensures the premiums collected are sufficient to cover the potential of future claims while also allowing for profit.

4. Pooling of risk - insurance works by pooling the risks of many individuals together. This spreads the risk amongst the group and makes it financially feasible for insurers to cover large, unpredictable losses.

5. Underwriting - this is where the evaluation of risk happens including the actuarial science to help set the terms and premium for coverage

04/06/2025

𝘼 𝙥𝙚𝙧𝙘𝙚𝙣𝙩𝙖𝙜𝙚 𝙤𝙛 𝙖 𝙢𝙞𝙡𝙡𝙞𝙤𝙣 𝙫𝙨 𝙖 𝙥𝙚𝙧𝙘𝙚𝙣𝙩𝙖𝙜𝙚 𝙤𝙛 𝙖 𝙗𝙞𝙡𝙡𝙞𝙤𝙣.

Let’s follow the money.

Your health insurance premium.

The Medical Loss Ratio (MLR) states 80% of your premium goes towards medical services and 20% goes towards the insurance companies. (85/15 percent for larger employer groups)

𝙈𝙞𝙣𝙙 𝙮𝙤𝙪 𝙩𝙝𝙞𝙨 𝙞𝙨 𝙢𝙖𝙣𝙙𝙖𝙩𝙚𝙙 𝙗𝙮 𝙡𝙖𝙬. (𝘼𝙛𝙛𝙤𝙧𝙙𝙖𝙗𝙡𝙚 𝘾𝙖𝙧𝙚 𝘼𝙘𝙩)

This was designed to protect consumers.

Put more of your premium dollars towards your medical care.

𝙎𝙤𝙪𝙣𝙙 𝙜𝙤𝙤𝙙 𝙧𝙞𝙜𝙝𝙩?

If the profit percentage is 2.5% of your premium (this could be more btw 3-6%) then that means….

only one thing:

𝗬𝗼𝘂𝗿 𝗽𝗿𝗲𝗺𝗶𝘂𝗺𝘀 𝗻𝗲𝗲𝗱 𝘁𝗼 𝘀𝗸𝘆𝗿𝗼𝗰𝗸𝗲𝘁 🚀

The question isn’t whether insurers are following the law; it’s whether the law created the right incentives.

𝘼 𝙥𝙚𝙧𝙘𝙚𝙣𝙩𝙖𝙜𝙚 𝙤𝙛 𝙖 𝙢𝙞𝙡𝙡𝙞𝙤𝙣 𝙫𝙨 𝙖 𝙥𝙚𝙧𝙘𝙚𝙣𝙩𝙖𝙜𝙚 𝙤𝙛 𝙖 𝙗𝙞𝙡𝙡𝙞𝙤𝙣.

What do you think?

04/04/2025

Capital allocation.

It’s important.

𝙒𝙝𝙚𝙧𝙚 𝙞𝙨 𝙢𝙮 𝙢𝙤𝙣𝙚𝙮 𝙜𝙤𝙞𝙣𝙜?

Or my favorite: 𝐖𝐡𝐚𝐭 𝐚𝐦 𝐈 𝐩𝐚𝐲𝐢𝐧𝐠 𝐟𝐨𝐫?

Ever wonder where your health insurance premiums go?

Let’s see where this takes us.

For every $1 you pay in premiums:
• 80¢ goes toward your actual healthcare (it's required by law!)
• 14¢ covers administrative costs
• 3.5¢ pays for taxes and fees
• 2.5¢ profit

80/20 split (like the Pareto Principle!) is for individual and small markets. The split for larger markets is 85/15.

A fancy term for this is Medical Loss Ratio (MLR).

𝗧𝗵𝗲 𝗰𝗮𝘃𝗲𝗮𝘁:

If the insurers don’t meet these thresholds mandated by the Affordable Care Act, insurers must issue rebates to policyholders.

In 2024, insurers returned approximately $1.1 billion in rebates to policyholders who were overcharged.

𝗧𝗵𝗲 𝘁𝗲𝗮:

While MLR is well-intentioned, the incentive is for YOUR premium to go up.

𝘼 𝙥𝙚𝙧𝙘𝙚𝙣𝙩𝙖𝙜𝙚 𝙤𝙛 𝙖 𝙢𝙞𝙡𝙡𝙞𝙤𝙣 𝙫𝙨 𝙖 𝙥𝙚𝙧𝙘𝙚𝙣𝙩𝙖𝙜𝙚 𝙤𝙛 𝙖 𝙗𝙞𝙡𝙡𝙞𝙤𝙣.

𝐓𝐃𝐋𝐑
1. At least 80 cents of every premium dollar must go toward actual healthcare services
2. If insurers spend less than 80% on medical care, they must issue rebates to policyholders
3. In 2022, insurers paid approximately $2 billion in rebates to 9.8 million consumers due to MLR requirements
4. The MLR is designed to ensure premium dollars primarily fund healthcare rather than overhead or profits

04/02/2025

🏥 𝗧𝗵𝗲 𝗞𝗲𝘆 𝗣𝗹𝗮𝘆𝗲𝗿𝘀 𝗶𝗻 𝘁𝗵𝗲 𝗛𝗲𝗮𝗹𝘁𝗵 𝗜𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 𝗘𝗰𝗼𝘀𝘆𝘀𝘁𝗲𝗺 🏥

1. Brokers: Your insurance guides! They analyze and recommend plans to meet your needs. (𝑳𝒊𝒌𝒆 𝒎𝒆!)

2. PBMs: Pharmacy benefit managers handle drug benefits, negotiate rebates, and manage formularies.

3. Networks: Groups of healthcare providers offering services at negotiated rates.

4. Agencies: Connect clients with insurance products, often representing multiple carriers.

5. Stop-Loss Carriers: Protect self-funded plans from high claims, limiting financial exposure.

6. Carriers: The companies that provide health insurance policies, design plans, and process claims.

7. TPAs: Third-party administrators manage self-funded plans, handling claims and compliance.

8. Underwriters: Assess risk, set premiums, and determine coverage terms.

The health insurance players all want to take shots at your premium.

Why? Their profit is in your premium.

Like basketball, the players all want to make shots for points. 🏀

𝗕𝗮𝘀𝗸𝗲𝘁𝗯𝗮𝗹𝗹: more points = you win.

𝗛𝗲𝗮𝗹𝘁𝗵 𝗶𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲: more premium = more profit (for the players).

𝑩𝒖𝒕 𝒅𝒐 𝒀𝑶𝑼 𝒘𝒊𝒏?