The EOB Podcast

About The EOB Podcast

Healthcare benefits are broken. Confusing by design. Buried in fine print. Protected by jargon. The EOB Podcast (Explanation of Benefits) exists to rip the curtain back. Hosted by Justin Leader, founder of BenefitsDNA — a known disruptor in the healthcare benefits industry, alongside Julie Selesnick, Director, Legal & Compliance at Judi Group and Founder & Principal Attorney at Health Plan Legal Counsel, a non-conflicted resource for fiduciaries sound benefit choices. This podcast breaks down what’s really happening inside health plans, contracts, and EOBs… in plain English. This isn’t theory. This isn’t recycled talking points. And this definitely isn’t fluff. Each episode dives into topics like: What your EOB actually says (and what it doesn’t) Fiduciary responsibility & plan sponsor accountability Contract language, negotiations, and hidden incentives Why benefits cost what they cost — and how to fix it Real-world wins, failures, and lessons learned from the front lines The goal is simple: make healthcare benefits understandable, actionable, and harder to hide behind complexity. Along the way, Justin and Julie bring in “Friends with Benefits” — industry insiders, legal experts, and operators who are actively challenging the status quo and building smarter, more cost-effective benefit plans. If you’re tired of lip service… If you believe benefits don’t have to be this complicated… If you want real education you can actually use… Welcome to The EOB Podcast — where we keep it real, challenge the system, and explain benefits the way they should be explained.

Publisher

Justin Leader and Julie Selesnick

Category

health & fitness

Language

en

Explicit

No

First episode

12 Feb 2026

Latest episode

6 Oct 2026

Latest episodes

18 episodes in the feed.

1. 

   6 Oct 2026

   Stop Feeding the Beast: Dave Chase of Health Rosetta on the Future of Healthcare

   What if fixing healthcare starts with employers taking back control? In this episode of The EOB Podcast, Justin Leader and Julie Selesnick sit down with Dave Chase, co-founder of Health Rosetta and author of Relocating Health: Taking Back Health Care, Rebuilding Communities, for a conversation about the future of employer-sponsored healthcare. Fresh off RosettaFest 2026, Dave shares his perspective on how the Health Rosetta movement has evolved from a group of early adopters into a growing national movement challenging the healthcare status quo. The conversation explores why rising healthcare costs aren't simply a benefits problem—they're an economic and community problem. Dave explains how healthcare dollars flow out of local economies, why employers have more control than they may realize, and what it means to reclaim "health sovereignty." Justin, Julie, and Dave also dig into PBM contracts, transparency, fiduciary-grade health plans, employer accountability, the changing role of advisors, and whether today's healthcare transparency efforts are actually creating meaningful price discovery. Plus, Dave discusses the ideas behind Relocating Health and the "Health Rosetta dividend"—the idea that dollars no longer wasted on healthcare can instead support wages, jobs, schools, infrastructure, and local communities. If employers truly want to change healthcare, the question may no longer be whether alternatives exist. It's whether they're willing to choose them. 🎧 JOIN THE CONVERSATION If you enjoyed this episode, subscribe to The EOB Podcast and follow along as Justin and Julie continue breaking down the contracts, costs, and complexity behind employer-sponsored healthcare. Have a topic you want us to tackle—or want to join us for a future Friends with Benefits conversation? Connect with The EOB Podcast and let us know. Follow The EOB Podcast: LinkedIn: https://www.linkedin.com/company/the-eob/ Website: https://eobpodcast.com/ YouTube: https://www.youtube.com/@theeobpodcast Connect with Dave Chase & Health Rosetta: Dave Chase: https://davechase.org/ Dave on LinkedIn: https://www.linkedin.com/in/chasedave Health Rosetta: https://healthrosetta.org/ 📖 Learn More About Relocalizing Health Explore Dave's latest book and his work to help employers, advisors, and community leaders take back control of healthcare spending: https://davechase.org/ Buy On Amazon

2. 

   22 Sept 2026

   First You Feel Ick... Then You Go RAA | ICHRA Explained: The Future of Employer Health Insurance?

   First you feel ICK… and then you go RAA! View The Individual Coverage Model Notice Here: http://eobpodcast.com/wp-content/uploads/2026/09/individual-coverage-model-notice.pdf This episode was shot on August 14th, 2026. ICHRA—Individual Coverage Health Reimbursement Arrangement—has gone from a niche benefits concept to one of the hottest conversations in employer-sponsored healthcare. After talking with Patrick Moore at RosettaFest, Justin and Julie realized something: they needed to learn a whole lot more about ICHRAs. So that’s exactly what they did. In this episode of The EOB Podcast, Justin and Julie break down what an ICHRA actually is, how it works for employers and employees, and why more benefits professionals and plan sponsors are starting to pay attention. They dig into everything from employer contributions and employee classes to affordability, ACA premium tax credits, ERISA obligations, adoption trends, broker compensation, individual-market limitations, portability, and the pros and cons for both employers and employees. And while ICHRA adoption is still small compared with traditional employer-sponsored coverage, the numbers discussed in the episode suggest interest is growing—and Justin argues it has reached the point where employers and advisors should at least understand it as another potential tool in the benefits toolbox. So, are ICHRAs the future of employer-sponsored healthcare? A useful option for certain employers? Or another complicated benefits acronym with a whole lot of fine print? Justin and Julie are figuring it out right along with you. 🎙️ Listen to the full episode of The EOB Podcast and tell us what you think: ICHRA—👍 or 👎?

3. 

   8 Sept 2026

   Karen Handorf, J.D. | Should Health Insurance Even Be Tied to Your Job?

   On this episode of The EOB Podcast: Friends with Benefits, Justin Leader and Julie Selesnick welcome Karen Handorf, J.D., Professor of Practice at Georgetown University's Center on Health Insurance Reforms—and someone Julie proudly calls a friend and mentor. Karen brings decades of experience to the conversation, including 25 years at the U.S. Department of Labor and work in ERISA and healthcare litigation. The conversation centers around a Senate Finance Committee Request for Information examining the employer-sponsored healthcare market, and quickly opens the door to some much bigger questions. Why are employers expected to act as healthcare fiduciaries when they may not have meaningful visibility into where their money is going? Should TPAs and other service providers have greater fiduciary responsibilities? Are existing transparency laws enough if nobody effectively enforces them? And is the employer-sponsored health insurance system itself due for a rethink? Justin, Julie, and Karen dig into: Employer access to claims, pricing, and healthcare spending data TPA and PBM accountability Fiduciary responsibility under ERISA Why enforcement matters just as much as legislation Provider contracts and healthcare networks ERISA preemption and state-level reform Direct contracting The rising cost of employer-sponsored healthcare Whether health insurance should be tied to employment at all Why employers and industry professionals need to make their voices heard One of the central contradictions discussed in the episode: employers can have fiduciary obligations to manage healthcare spending while simultaneously struggling to obtain the information necessary to understand that spending. And with roughly 160 million Americans receiving health coverage through an employer, these aren't questions that only matter to benefits professionals. 🎙️ Friends with Benefits is a series from The EOB Podcast featuring the people challenging conventional thinking and working toward a better healthcare system. Follow for more conversations about healthcare, employee benefits, fiduciary responsibility, transparency, and the forces shaping what employers and employees pay for care.

4. 

   25 Aug 2026

   What the Heck Is an EOB? Health Insurance Is Confusing. So We Brought Puppets. | The EOB Podcast

   🎭 We brought puppets to The EOB Podcast. Yes, seriously. Justin Leader and Julie Selesnick are back for a special duo episode, and this time they're finally tackling the question at the center of the entire podcast: What the heck is an EOB? An Explanation of Benefits is supposed to explain what happened after your health plan processes a claim. There's just one small problem... sometimes you need an explanation for the explanation. So naturally, Justin and Julie decided the best way to demonstrate that was with Puppet Show Theater. Meet Ella the Employee, Client-Facing Carl, and Dr. Big Bill as they attempt to make sense of billed charges, network discounts, allowed amounts, deductibles, coinsurance, patient responsibility, denial codes and, of course, the infamous phrase: “THIS IS NOT A BILL.” After the puppets put the absurdity into perspective, Justin and Julie get into what you actually need to know when an EOB lands in your mailbox or member portal. This episode covers: 🎭 The debut of Puppet Show Theater 📄 What an Explanation of Benefits actually is 🚫 Why an EOB is not a bill 💰 Billed charges vs. discounts vs. allowed amounts 🧐 What you should actually check on your EOB 🔢 Why healthcare loves confusing reason codes ⚠️ How errors can make their way onto medical bills and claims 🧾 When you should request an itemized bill 🔎 Why you shouldn't automatically assume everything was processed correctly 📣 What to do when a claim is denied and why appeal deadlines matter Justin even shares a real example of reviewing an EOB for someone who appeared to have been charged for services they didn't receive — a reminder that actually reading these documents can matter. And if you've ever looked at an EOB and thought, “I have absolutely no idea what any of this means,” you're in good company. Even Justin admits that despite reading them professionally, he still sometimes has trouble figuring them out. 🎙️ Welcome to The EOB Podcast, where we're finally explaining the EOB. And let us know what really matters: Should Puppet Show Theater become a recurring segment? 👀 Follow us for more fun and health insurance information breakdowns.

5. 

   11 Aug 2026

   On The Road Live at RosettaFest 2026 - The EOB Podcast Friends with Benefits Special

   🎙️ The EOB Podcast is Officially On The Road at RosettaFest 2026! Justin Leader and Julie Selesnick take the show to Nashville for a special live edition of The EOB Podcast, recorded from RosettaFest at the Gaylord Opryland. Throughout the event, Justin and Julie sit down with four Friends with Benefits who aren't just talking about changing employer-sponsored healthcare—they're actively doing the work. 🎤 Dawn Cornelis — Director of Financial Integrity at Health Rosetta🎤 Patrick Moore — Master Sergeant Marine Corps Veteran, Co-Founder of Pretekt, and Founder of Moore Benefits Resources🎤 Cristin Dickerson, MD, Certified Health Value Advisor — Founder of Green Imaging🎤 Kristine Scheer, SHRM-SCP — Founder of K2 Strategic and Employee Benefits Expert 📊 Dawn Cornelis kicks things off with a deep conversation around payment and data integrity. Dawn shares the personal motivation behind more than three decades of work auditing healthcare claims and discusses how better technology and data analysis can help employers identify overpayments, problematic contract terms, fiduciary risks, and other issues hiding inside their health plans. 💡 Patrick Moore breaks down ICHRA and why employers and benefits advisors should start paying attention. From defined contribution healthcare to the individual insurance market, Patrick explains where ICHRA fits alongside fully insured and self-funded plans—and why Justin says BenefitsDNA now evaluates it during every renewal. 🏥 Dr. Cristin Dickerson shares the story behind Green Imaging and how a simple question about the outrageous cost of an MRI grew into a nationwide imaging solution. The conversation covers direct contracting, healthcare affordability, member incentives, imaging quality, and challenging the industry's assumptions about what can and can't be done. 🤝 Kristine Scheer joins Justin and Julie for a conversation about fiduciary responsibility, collaboration, community, and the importance of setting ego aside. They discuss why meaningful change requires people who are willing to share knowledge, pick up the phone, make connections, and help each other move forward. Her takeaway says it best: “The only way out is through.” Across four very different conversations, one theme keeps showing up: meaningful healthcare change requires more than ideas. It requires people willing to take action. In this RosettaFest special:🔹 Payment integrity & healthcare data🔹 ICHRA and defined contribution healthcare🔹 Fiduciary responsibility🔹 Direct contracting🔹 Affordable medical imaging🔹 Employer health plan strategy🔹 Healthcare transparency & accountability🔹 Collaboration, community & action leadership Plus, it's EOB On The Road, so expect plenty of the usual Justin and Julie humor, conference chaos, Nashville adventures, and Friends with Benefits energy along the way. 📍 Recorded live from RosettaFest 2026 in Nashville, Tennessee. ▶️ Follow The EOB Podcast for more conversations challenging conventional thinking in employee benefits and employer-sponsored healthcare.

6. 

   28 Jul 2026

   AI Is Here. Hospital Networks Are Shifting. What's Next for Employers?

   Artificial intelligence is changing the way businesses operate. Hospital networks are battling over reimbursement rates. Healthcare policy continues to evolve. So what does all of this mean for employers sponsoring health plans? In this episode of The EOB Podcast, Justin Leader and Julie Selesnick break down some of the biggest headlines impacting employer-sponsored healthcare today. They discuss why hospitals and insurance carriers end up in network disputes, how employers can turn those disruptions into opportunities through direct contracting, and why rural hospitals face unique financial challenges. They also dive into the rapid rise of AI, sharing practical advice for employers, consultants, and healthcare professionals on using artificial intelligence responsibly while protecting sensitive data. Whether you're an employer, HR leader, broker, consultant, or simply interested in the future of healthcare, this episode offers practical insights and actionable strategies you can apply today. In this episode:• Hospital network disputes and what they mean for employers• Direct contracting opportunities during network disruptions• Challenges facing rural hospitals• AI best practices for healthcare and employee benefits• HIPAA, data privacy, and AI security• Why AI should be your assistant—not your replacement• Current healthcare policy updates• Action leadership vs. thought leadership 👍 Like this video if you found it helpful.💬 Leave us a comment with your thoughts.🔔 Follow us for more conversations on employer-sponsored healthcare, benefits, compliance, and healthcare policy.

7. 

   14 Jul 2026

   Who Watches the Watchers? The Hidden Problem in Employer Healthcare with special guest Darren Fogarty

   What does it take to make employer-sponsored healthcare actually work? In this Friends with Benefits episode, Justin Leader and Julie Selesnick welcome Darren Fogarty, Associate Director of Purchaser Value and Policy at Purchaser Business Group on Health (PBGH). The conversation covers fiduciary responsibility, ERISA, healthcare transparency, compensation disclosures, access to claims data, and why meaningful reform requires more than just new legislation—it requires employers to become informed purchasers. Whether you're an employer, consultant, attorney, or healthcare professional, this episode provides valuable insights into where employer-sponsored healthcare is headed and what organizations can do today to better serve their employees.

8. 

   30 Jun 2026

   Financial Domination, Prohibited Transactions & The Future of Employee Benefits

   In this episode of The EOB Podcast, Justin and Julie break down one of the biggest developments in the employee benefits industry: the growing wave of litigation surrounding voluntary benefits, excessive compensation, and fiduciary responsibility. With a fifth lawsuit now filed against a major employer and consulting firm, the conversation explores what these cases mean for brokers, employers, and anyone responsible for managing employee benefit plans. The discussion dives into ERISA safe harbors, prohibited transactions, compensation disclosures, and why transparency is quickly becoming one of the most important responsibilities in healthcare benefits. Topics include: 🔹 The latest voluntary benefits lawsuits and what they allege 🔹 Why ERISA safe harbor protection is harder to achieve than many believe 🔹 Prohibited transactions and hidden compensation risks 🔹 What employers should expect from their advisors and vendors 🔹 The future of compensation disclosures under CAA 2026 🔹 The growing importance of fiduciary liability insurance 🔹 The Northwestern "financial domination" case and its potential impact on health plan design 🔹 Best practices for transparency, prudence, and fiduciary governance Justin and Julie also share real-world stories from the industry, explain how hidden commissions continue to surface, and discuss why employers should treat healthcare purchasing like every other major business decision: ask questions, demand transparency, and know exactly what you're paying for. If you're an employer, broker, benefits consultant, HR leader, or healthcare fiduciary, this episode is packed with practical guidance on navigating an increasingly complex regulatory and litigation landscape. 🎙️ Subscribe to The EOB Podcast for honest conversations about healthcare benefits, ERISA, fiduciary responsibility, transparency, and the future of employee-sponsored healthcare.

9. 

   16 Jun 2026

   Jessica Brooks Woods | Trust, AI, Collaboration & The Future of Healthcare

   In this special Friends with Benefits episode of The EOB Podcast, Justin and Julie sit down with Jessica Brooks Woods, healthcare leader, executive, and Founder of the newly launched Health Intelligence Network (HIN). This episode was filmed April 16, 2026. Jessica has spent her career bringing together employers, policymakers, consultants, innovators, and healthcare leaders to tackle some of the industry's biggest challenges. In this conversation, she shares the personal experiences that shaped her mission, why collaboration is the key to meaningful healthcare transformation, and how AI may fundamentally change the way we solve healthcare's most complex problems. The discussion covers: 🔹 The story behind launching Health Intelligence Network (HIN) 🔹 Why healthcare doesn't have an information problem—it has a cohesion problem 🔹 Trust as healthcare's biggest challenge 🔹 AI's role in the future of healthcare and benefits consulting 🔹 Why collaboration beats competition when solving healthcare problems 🔹 The power of employer coalitions and collective action 🔹 Healthcare innovation, transparency, and leadership 🔹 Building businesses that create impact while remaining profitable One of the most memorable takeaways: "We're not lacking information. We're lacking cohesion." Whether you're an employer, benefits professional, consultant, healthcare executive, entrepreneur, or simply interested in the future of healthcare, this episode offers a refreshing perspective on leadership, innovation, and creating meaningful change. 🎙️ Subscribe to The EOB Podcast for conversations that pull back the curtain on healthcare benefits, costs, transparency, and the future of healthcare.

10. 

    2 Jun 2026

    The PBM Industry Is Cracking: FTC Settlements, New Rules & Fiduciary Risk

    This episode was filmed on March 19, 2026. The healthcare benefits industry is changing faster than it has in years... In this episode of The EOB Podcast, Justin and Julie break down the growing pressure facing Pharmacy Benefit Managers (PBMs), including the FTC settlement involving Express Scripts, new Department of Labor transparency proposals, the impact of CAA 2026, and emerging fiduciary litigation that could reshape the healthcare benefits landscape. Topics include: • FTC action against PBMs and what it means for employers • Spread pricing, rebate retention, and hidden compensation • The proposed DOL PBM transparency rule • Why fiduciary responsibility is becoming impossible to ignore • Direct contracting and the future of employer-sponsored healthcare • The role of transparency in reducing healthcare costs • What employers should be doing right now to protect their plans Justin and Julie also discuss why healthcare affordability has become a bipartisan issue, how employers can gain leverage during contract negotiations, and why simply accepting the status quo is no longer a viable strategy. If you're an employer, HR leader, CFO, advisor, benefits professional, or healthcare industry stakeholder, this episode is packed with practical insights on where the market is heading next. Because one thing is becoming increasingly clear: The healthcare industry is changing, and employers need to be ready.

11. 

    20 May 2026

    The EOB Podcast Live! with Shawn Gremminger at Elevated Insights Summit 2026

    This episode got a little… theatrical. 🎭 In the first-ever LIVE episode of The EOB Podcast, Justin and Julie are joined by Shawn Gremminger, President & CEO of the National Alliance of Healthcare Purchaser Coalitions, for a deep dive into one of the biggest issues in healthcare today: 👉 Why employers still struggle to access their own data👉 How PBMs and carriers use opaque contracts👉 And why healthcare pricing still feels intentionally confusing Through a mix of live skits, audience interaction, sarcasm, and real policy discussion, the episode breaks down: • Shared savings programs• Contract transparency• PBM reform and data access• Employer fiduciary responsibility• Hospital pricing and pharmacy spend• ERISA preemption• Why employers are finally pushing back Shawn shares insights from working with employer coalitions representing more than 90 million Americans and explains why this moment feels different than years past. One major takeaway: 👉 Employers are no longer willing to blindly trust the system. And yes… there’s also a fake Kohl’s rebate program skit.

12. 

    12 May 2026

    Jamie Greenleaf | Healthcare Fees Are Hidden… And Employers Are at Risk

    What if the biggest risk in your healthcare plan… is something you can’t even see? In this episode of The EOB Podcast, Justin and Julie are joined by Jamie Greenleaf, Co-Founder of Fiduciary in a Box, to break down one of the most important (and overlooked) issues in healthcare benefits today: 👉 Fiduciary responsibility — and why most employers aren’t prepared for it Drawing from decades of experience in the retirement space, Jaime connects the dots between what happened with 401(k) plans… and what’s now unfolding in healthcare. Because the pattern looks familiar: • Hidden compensation • Lack of transparency • Vague or missing contracts • And employers being held responsible anyway The conversation dives into: Why healthcare is following the same path as retirement plans What “reasonable compensation” actually means under ERISA How lack of disclosures creates real legal risk Why litigation may drive change faster than regulation The dangers of indirect compensation and conflicted advice And how employers can start building a defensible fiduciary process One of the biggest takeaways? 👉 If you can’t explain what you’re paying… you probably can’t defend it. This episode is a must-watch for employers, HR leaders, CFOs, and benefits advisors trying to navigate an increasingly complex and high-risk environment.

13. 

    20 Apr 2026

    PBM Transparency Rule Sparks Chaos | Inside the DOL Comment Storm

    This one couldn’t wait. In this episode of The EOB Podcast, Justin and Julie break down the proposed Department of Labor rule on PBM transparency — and the flood of industry responses submitted before the comment deadline. With over 500+ submissions from carriers, PBMs, employers, and other stakeholders, the conversation reveals a clear divide: 👉 Those pushing for more transparency👉 And those… pushing back hard For the first time, the proposed rule would require PBMs to disclose all compensation — including rebates, spread pricing, administrative fees, and more — before a contract is signed. So why the resistance? Justin and Julie dig into real comment letters from major players in the industry, breaking down: Common arguments against the rule (and what they really mean) Why “this is too complex” keeps coming up What employers are being told vs. what they actually need How transparency impacts fiduciary responsibility And where this could go next Along the way, they call out contradictions, questionable logic, and a few moments that are… unintentionally hilarious. Because when it comes to healthcare benefits:understanding how money flows isn’t optional — it’s the whole game.

14. 

    14 Apr 2026

    What If Hospitals Were Treated Like Utilities? | Fixing Healthcare Pricing & more | Friends with Benefits 2: David Balinski of Wire Health

    What if the solution to rising healthcare costs isn’t more complexity… but more structure? In this episode of The EOB Podcast, Friends with Benefits Episode 2, Justin and Julie sit down with David Balinski, Founder & CEO of Wire Health, to challenge one of the biggest assumptions in healthcare: 👉 Should hospitals be treated like utilities? From unpredictable pricing to lack of transparency and inefficient administrative systems, this conversation breaks down why the current healthcare model isn’t working — and what it might take to fix it. David shares a bold perspective on how regulating hospital pricing could: Reduce extreme cost variation Improve access to care Shift competition toward quality and outcomes Eliminate billions in administrative waste Create a more sustainable system for employers and patients The episode also dives into: Why healthcare lacks a true free market The illusion of price transparency How networks impact pricing and access The inefficiencies in claims processing and repricing Why employers and employees are both feeling the financial strain If you’re an employer, HR leader, CFO, benefits advisor, or simply someone trying to understand why healthcare feels so broken… this episode connects the dots. Because when pricing doesn’t make sense… the system doesn’t either.

15. 

    31 Mar 2026

    Gag Clauses Are “Banned”… So Why Can’t You Access Your Data? | What Employers Need to Know

    Gag clauses were officially banned under the Consolidated Appropriations Act (CAA)… so why are employers still struggling to access their own healthcare data? In this episode of The EOB Podcast, Justin Leader and Julie Selesnick break down the real story behind gag clauses — what they are, why they were prohibited, and how they’re still impacting employers today. While plan sponsors are now required to submit annual gag clause attestations confirming they have access to their data, many are finding that access is still limited, delayed, or controlled through internal “company policies” rather than explicit contract language. This episode covers: What gag clauses actually are in healthcare contracts Why they were banned under the CAA How carriers and PBMs have adapted post-ban The challenges employers face when requesting claims and pricing data What the gag clause attestation requires (and why it matters) How to think about fiduciary responsibility and data access Practical steps employers can take to improve transparency If you’re an employer, HR leader, CFO, broker, consultant, or plan fiduciary, this episode will help you better understand your responsibilities — and why simply signing an attestation isn’t enough. Because when it comes to healthcare benefits, you can’t manage what you can’t see. Follow for more conversations breaking down healthcare benefits, ERISA compliance, PBM transparency, and the real financial mechanics behind employer-sponsored health plans. This episode was shot on Dec 18th, 2025

16. 

    17 Mar 2026

    Friends with Benefits 1: Mike Miele on PBMs, GLP-1s, and Drug Pricing

    Welcome to the first episode of our new “Friends With Benefits” series on The EOB Podcast. Julie Selesnick and Justin Leader bring in one of the smartest people they know in the healthcare benefits industry — Mike Miele, FSA, MAAA, Senior Vice President of Insured Services at Capital Rx — to talk about the topic everyone in benefits is arguing about right now: pharmacy benefit managers (PBMs). Mike pulls back the curtain on how PBMs actually work, how rebates shape the entire drug pricing ecosystem, and why employers often have far less visibility into their pharmacy spend than they think. Along the way the group dives into GLP-1 drugs like Ozempic and Wegovy, exploding pharmacy trends, rebate economics, and the uncomfortable truth about who really controls drug formularies. Topics include: The real story behind PBMs and pharmacy rebates Why GLP-1 drugs are driving pharmacy trend The economics behind drug formularies and rebate deals Why employers struggle to get transparent pharmacy data How plan sponsors can better manage pharmacy spend If you’re an employer, HR leader, benefits advisor, or healthcare industry insider, this episode will help you understand the forces driving prescription drug costs — and what questions you should actually be asking. And yes… this episode also launches our new segment: Friends With Benefits. More industry insiders are coming. Follow for more straight talk on healthcare benefits, pharmacy, and employer health plans.

17. 

    3 Mar 2026

    The Biggest PBM Transparency Rule in Decades? DOL Crackdown on Rebates, Spread Pricing & Hidden Fees

    In Episode 2 of The EOB Podcast, Justin Leader and Julie Selesnick break down the proposed U.S. Department of Labor rule that could become the most consequential PBM transparency regulation in decades. The proposed rule would require Pharmacy Benefit Managers (PBMs) to provide detailed disclosure of: • Manufacturer rebates • Spread pricing practices • Pharmacy clawbacks • Indirect compensation • Affiliate & GPO relationships • Audit rights and verification standards But here’s the key: PBMs are already subject to compensation disclosure requirements under ERISA Section 408(b)(2) and the Consolidated Appropriations Act (CAA) of 2021. So what makes this new rule different? Justin and Julie explain: Why employers cannot delegate fiduciary responsibility How rebate retention clauses can cost millions The impact of pharmacy clawbacks on independent pharmacies Why spread pricing is still a major issue What plan sponsors should be asking for in their RFPs right now Why you don’t need to wait for the rule to pass to demand transparency If you are an employer, HR leader, CFO, broker, consultant, fiduciary, or compliance professional, this episode gives you a practical roadmap for reducing PBM risk and protecting your health plan. You don’t need a new law to start being proactive. Follow for more episodes breaking down healthcare benefits, ERISA compliance, fiduciary risk, PBM reform, and employer health plan strategy.

18. 

    12 Feb 2026

    The Voluntary Benefits Reckoning: Lawsuits, Hidden Commissions & the Fiduciary Wake-Up Call

    In this episode of The EOB Podcast, Justin Leader and Julie Selesnick pull back the curtain on the explosive Schlichter voluntary benefits lawsuits—and why they could permanently reshape how employers, brokers, and carriers operate. This isn’t legal theory. It’s a real-world warning shot. Justin and Julie unpack how “voluntary” benefits quietly became a multi-billion-dollar profit machine, why hidden commissions and weak loss ratios are now under a microscope, and how many employers may already be sitting on ERISA exposure without realizing it. You’ll learn why the old “employees pay for it, so it’s not our problem” mindset is officially dead—and what a defensible, fiduciary-first approach to benefits actually looks like moving forward. If you’re responsible for employee benefits—or advising those who are—this episode is your early advantage.

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