health.wealth.life Spring 2022

VOL. 27

health.wealth.life.

WORKING KNOWLEDGE PAGES 4 & 5: The Value of Financial Planning PAGE 15: 2022 Financial Wellness Webinar Series

Client Spotlight: Grunder Landscaping pageS 18 & 19

TRENDING NOW PAGES 6 & 7: How the Pandemic Has Impacted Mental Health PAGES 8 & 9: Michael Hermes Named National Social Security Advisor of the Year PAGE 12: Celebrating Four Years of the HORAN Podcast PAGES 16 & 17: HORAN in the Community

FORWARD THINKING PAGE 13: Do You Spend More Time Planning for Vacation or Retirement?

Wright State University PageS 10 & 11

Q laboratories & a culture of improving employee lives PageS 14 & 15

CHECK OUT THE #2 HEALTH INSURANCE PODCAST IN THE COUNTRY Tune in for: • Interviews with local leaders • Insights to make smart financial decisions • Tips for managing physical and mental health

Benefits:

What, Like it’s Hard?

Listen and subscribe today by visiting www.horanassoc.com/tunein

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SM

Volume 27

I think I can speak for everyone at HORAN when I say we are thrilled that it appears the worst of the COVID-19 pandemic is behind us.

HORAN is hosting more in-person meetings and participating in more community events. We recently held an all-employee event to celebrate the conclusion of our ArtsWave campaign and I enjoyed seeing our associates in-person instead of via virtual meeting. You will see a few photos from the recent events we’ve attended later in the magazine.

Even though most of us are returning to our normal level of activity, the COVID-19 pandemic certainly has taken a toll on mental health. We’ve seen a direct correlation between the pandemic and an increase in the volume of mental health claims. Many of our clients are asking us how they can support their employees. In this issue, you will find our most recent HORANalytics DatabyteSM where we share our analysis and findings on this topic and ways employers can implement mental health solutions for their employees.

This issue also includes a few great client features. You will find interesting articles about Grunder Landscaping, Q Laboratories and Wright State University.

Our podcast, “Benefits: What, Like it’s Hard”, is celebrating its fourth year of production and we’re recognizing this milestone by highlighting our top four most-downloaded episodes. You can tune in to the podcast on your listening app of choice or by visiting our website www.horanassoc.com.

We have several employee awards and recognitions since the last issue.

Michael Hermes was named the 2021 National Social Security Advisor of the Year. Over the course of the past year, Michael has helped educate 1600+ individuals on Social Security.

That coupled with his engagement in the community made him a great choice for this annual award.

Our Retirement planning group was named one of the Top DefinedContribution Advisor Teams in the country. Daker Monroe was awarded the MetLife’s MetLIGHT award for leadership. Additionally, Julie Tople was recognized by the City of Montgomery for her great work with them over the last 18 years.

There are several other HORAN associates mentioned in the magazine. We are so grateful to all of them for the constant work they do to make our communities a better place to live and work.

At HORAN, our primary focus remains unchanged. We come in every day to create better outcomes in physical and financial wellbeing so our clients and the companies they work for can create more productive, abundant lives for themselves and their families.

Thank you for the opportunity to serve you. Enjoy this beautiful spring!

Terence L. Horan, CLU, ChFC, CAP President and Chief Executive Officer

www.horanassoc.com

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WORKING KNOWLEDGE

u l e of a V e h T

Financial Plan ning

Individuals and families with complex income and asset structures need an expert partner to provide suitable recommendations, empower you to make informed choices and protect against unexpected events.

Personal legacies can be significantly impacted without proper estate and transfer planning. Estate planning and tax-efficient transfer of assets are necessary to provide for future generations. Additionally, charitable giving strategies may both enshrine a legacy and reduce tax burdens.

High Income Earners: High earners have tremendous potential to create a secure financial future with the right guidance.

Business Owners: Individuals, families and business owners can often have complex income and benefits structures that need to be understood and examined in their entirety.

High Net Worth Individuals: Strong tax management is essential because “compliant” is not the same as “optimized”. Your legacy could shrink significantly without sophisticated planning.

Families: Diligent estate planning and efficient transfer of assets are necessary to protect a legacy for future generations. Concentrated stock positions and private equity require individualized investment management.

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WORKING KNOWLEDGE

Volume 27

MEET OUR FINANCIAL PLANNING TEAM Andrea Costa, Esq, Vice President, Financial Planning, focuses on developing highly complex strategic plans for high-networth families. She works with executives and other professionals, closely-held business owners, and families with multi-generational wealth to develop and implement a financial strategy to grow wealth and address family goals through the generations.

Keith Prince, CFP®, Senior Financial Planner, helps individuals and families better understand their financial picture through a comprehensive and personal financial planning process. With his 12 years of industry experience, Keith helps clients successfully plan for their retirement and helps them realize their long-term financial goals.

Investment Advisory Services offered by HORAN Wealth Management, an SEC Registered Investment Adviser. Please see our Client Relationship Summary at adviserinfo.sec.gov for more information.

HORAN helps individuals and families better understand their financial picture through a comprehensive personal financial planning process. Our advisors take the time to understand the story behind your goals so that we can provide real, informed advice to craft the right approach to meet your needs.

When you become a HORAN client you don’t just have a relationship with your plan advisor—you benefit from the collective power of the entire company’s experience and expertise.

Your strategy is informed by dedicated, experienced individuals that go the extra mile to ensure the approach is the right one to meet your needs.

We deliver comprehensive recommendations structured to give objective and unbiased insights. By helping to address uncertainties and taking individual goals into consideration, your financial planning team can illustrate a more complete picture of your financial journey.

www.horanassoc.com

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TRENDING NOW

HORANalytics Databyte® Mental Health: 2022

The COVID-19 pandemic created stressors in all areas of life including: loss of loved ones, income deficit as a result of job reductions, childcare issues, personal health issues, etc.

Navigating these obstacles are difficult enough but having to do so without being able to connect face-to-face with your support network makes these challenges even harder.

Increase in Mental Health Related Issues as a Result of the COVID-19 Pandemic

According to the Kaiser Family Foundation, "during the pandemic about 4 in 10 adults in the U.S. reported symptoms of anxiety or depressive disorder, up from 1 in 10 adults who reported these symptoms from January to June 2019."

Data Source: Limeade

49%

Less Energy for Non-Work Activities

42%

Less Interest in Socializing with Friends

42%

More Trouble Sleeping

33%

Increase in Alcohol or Substance Use

How this Translates to Your Health Plan We saw the increase in employee stress, anxiety and depression directly reflected in claims data. From 2019 to 2021, the volume of mental health claims in our book of business increased by 32.4%. More specifically, psychiatric claims increased by 35.3% and substance abuse claims increased by 17.8%. The average cost per mental health claim also increased going from $15.28 in 2019 to $18.09 in 2021 —an increase of 18.4%.

VOLUME OF MENTAL HEALTH CLAIMS

AVERAGE COST PER MENTAL HEALTH CLAIM Average Cost for Mental Health Claim Per MemberPER Per Month (PER MEMBER MONTH)

$15.28 2019

2019 6

2021

*This data doesn't include mental health provider 800.544.8306 visits that were not run through insurance.

$18.09 2021

Volume 27

TRENDING NOW An Ongoing Battle

With the end of the pandemic (seemingly) in site, mental health issues stemming from the pandemic have begun to plateau.

According to the Kaiser Family Foundation's COVID-19 Vaccine Monitor, "about a quarter of adults say they have basically returned to normal. Unfortunately, additional stressors are beginning to arise."

Rising prices at the gas pump, increasing costs for consumer goods and the looming possibility of a recession are resulting in an increase in financial-related stress.

GAS PER GALLON

2019

$2.59

2022

$4.32

EGGS

2019

$1.40

BABY FORMULA

2022

$2.95

2019

$27.99

2022

$33.99

How Employers Can Help Since the start of the pandemic, the demand for mental health services has grown exponentially. Yet, the stigma of mental illness, therapy and outreach can be a barrier for employees. Employers play a crucial role in providing employees with easy access to care and resources to help address their population's mental health challenges. According to Lyra's recent Workplace Mental Health Trends Forecast, "89% of HR/Benefits leaders said mental health support was a higher priority for their company for the next year."

Investing in mental health solutions can positively impact your health care costs and show your employees that you care about their holistic wellbeing.

We are here to help. HORAN can provide you with a strategy to build your mental health offerings and a roadmap of resources to better support your employees.

Get started today by trying one (or all!) of the options below.

HORAN supports the efforts to reduce the stigma around mental illness and increase support for those affected. For more information on how you can better support your employees' mental health, contact your HORAN representative at 800.544.8306. www.horanassoc.com

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TRENDING NOW

The National Social Security Advisor Program named Michael L. Hermes, CFP, CFA, Vice President, Wealth Advisor, the 2021 National Social Security Advisor of the Year. We sat down with Michael to discuss the award as well as his passion for building Social Security strategies for his clients.

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TRENDING NOW

Volume 27

Learn more about HORAN’s Medicare & Social Security webinar series by visiting www.horanassoc.com/ seminars.

www.horanassoc.com

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WRIGHT STATE UNIVERSITY

Wright state university prioritizes student health on campus Wright State University currently coupled with increased anxiety, enrolls 11,000 students and offers managing mental health challenges more than 300 academic programs. and chronic conditions, dealing with The University strives to give every food insecurity and more. As a result, student an opportunity to be successful. improving health care access and This means supporting students as knowledge is imperative. they navigate academic programs, providing them with opportunities for “As much as we try to help, some of medical coverage through student our students have had to drop out insurance and everything in between. in the past if they suffered from a catastrophic medical event,” said Chris College students today face numerous Taylor, Ph.D., Dean of Students. “We obstacles. They’re expected to balance join the majority of other public Ohio demanding schedules, earn good institutions that have an insurance grades, land competitive internships— requirement. This will help prevent 10

800.544.8306

our students from having to choose between their education and their health.”

Wright State’s goal when it comes to student health insurance is to offer a robust, affordable health insurance plan that has comprehensive benefits, great customer service and a vast network of providers, inclusive of a partnership with Wright State Physicians. Nancy Caupp, Student Health Insurance Program Coordinator, has seen first-hand the impact of the University’s program.

WRIGHT STATE UNIVERSITY

Volume 27

Before this partnership, I had to interact and negotiate with the insurance companies myself, which took a tremendous amount of time. Now I get to spend most of my time doing what I enjoy the most—working directly with the students.

A student visited Nancy’s office “Having a partner like HORAN to following a hiking incident where help us navigate student insurance— he had fallen down a cliff. Nancy starting with the RFP and all the way worked with him for three months to through implementation—was key,” navigate the expenses that followed said Nancy. “Before this partnership, I the accident. “The end result was had to interact and negotiate with the that he didn’t have a whole lot of out- insurance companies myself, which of-pocket expenses because he was took a tremendous amount of time. covered through our student insurance Now I get to spend most of my time health plan,” said Nancy. “He was able doing what I enjoy the most—working to stay in school and focus on his directly with the students.” classes without being worried about accumulating medical debt.”

“I’m proud that we are able to offer one of the lower cost programs in the state With access to affordable coverage, that provides more comprehensive students can focus on their classwork benefits than if students were to shop and other elements of campus life the marketplace independently,” instead of worrying about how to get said Chris. “HORAN has been and pay for the care they need. When there to help us navigate all campuses prioritize their students’ the different options in the health, the students in turn, will feel world of insurance and empowered to as well. as complex as it can be, I’m confident That’s one of the reasons why Wright that we offer the State is introducing Togetherall as part best plan possible of their student insurance offerings. to our students.”

Togetherall is a clinically moderated, online peer-to-peer mental health community that empowers students to anonymously seek and provide support in a safe and welcoming environment. Nancy believes this will bridge the gap and help students find a reliable resource in a safe and welcoming environment.

11,000

CURRENT ENROLLMENT

300+

ACADEMIC PROGRAMS

Centralizing health services can make it easier for students to understand their insurance coverage options and how to access care. www.horanassoc.com

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TRENDING NOW

CELEBRATING FOUR YEARS OF THE HORAN PODCAST WITH OUR TOP FOUR MOST DOWNLOADED EPISODES HORAN is celebrating four years of the “Benefits: What, Like it’s Hard” podcast by sharing our top four most downloaded episodes. The podcast shares helpful benefit insights as well as tips to improve physical, financial and mental wellness. We are also proud to share that the podcast has been named the number two health insurance podcast in the country for the past three years.

Be sure to listen and share the episodes below and subscribe to the podcast on your listening app of choice (available on Spotify, Apple Podcast, Stitcher & Google Play).

#1 How Does Medicare Work with Nate Epp

#2 The Importance of Mental Health with Rakel Keane

An overview of all things Medicare including what it is, who it’s for, how it works and much more. bit.ly/MedicareWithNateEpp

A conversation on the importance of maintaining good mental wellbeing and tips on how to do so. https://bit.ly/ImportanceOfMentalHealth

#3 The Basics of Investing with Matt Antenucci

#4 Behind the Scenes: Dependent Care FSAs with Amanda Hall

An overview of investment options and how to get started. https://bit.ly/InvestingWithMattAntenucci HORAN Capital Advisors, LLC., an SEC Registered Investment Adviser.

We discuss how to leverage Dependent Care Flexible Savings Accounts to help pay for childcare expenses. https://bit.ly/DependentCareFSAs

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FORWARD THINKING

Volume 27

Retirement Meditation #2: Do I Spend More Time Planning Vacation or Planning for Retirement?

My wife and I use to pick one Saturday morning in February to spend several hours planning our annual summer vacation.

Twelve years into our marriage, we had an “a-ha” moment and adjusted the purpose of these planning sessions.

The “a-ha moment” came to us during a year in which the economy was down. We discovered deep travel discounts, and we could not come to an agreement on just one destination.

Eventually, we agreed on two vacations—a spring break trip plus our normal summer getaway. Even with two vacations planned we still had not spent our entire travel budget allocated for the year.

Noodling how to spend the remaining funds, I looked over our retirement account statements. The struggling economy was also adversely affecting our investments. It occurred to me that we were not focused strategically on retirement

planning and were only contributing enough to obtain our employers’ match.

We rededicated our February Saturday morning to focus on annual retirement planning. For us, it’s more than crunching numbers. We update a dream book (think bucket list) that admittedly has become more realistic and grounded as we mature. We review our budget and our account statements. We use tools available through our 401(k) providers as well as through general finance websites. And we make adjustments year-over-year based on where we stand currently and where we want to be at retirement.

Are you spending more time planning for that week-long vacation or your future retirement?

Each week Paul A. Carl, CHSA, CPFA™ Vice President, Retirement Plan Consulting, Registered Representative, writes a new thought-provoking article for his blog aptly named “52 Meditations on Retirement”.

Above is one of Paul’s first posts in which he discusses why he and his wife re-directed energy they use to spend planning trips into planning for their retirement.

You can subscribe to receive Paul’s weekly posts by visiting www.horanassoc.com/insights. While you’re there check out HORAN’s other blogs on the following topics:

• Market Commentary • Estate & Tax Planning

• Health Benefits Compliance • Campus Health

Securities offered through Horan Securities, Inc. (“HSI”), a dually registered investment firm, member FINRA | SIPC.. HORAN Wealth Management (“HWM”) is the associated SEC Registered Investment Advisor. HORAN Capital Advisors (“HCA”), an affiliated investment advisory firm, is also an SEC Registered Investment Advisor. Horan Securities, Inc., Horan Wealth Management, and HORAN Capital Advisors are part of HORAN, located in Cincinnati, Ohio. Investing in securities involves risks, and there is always the potential of losing money when you invest in securities. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results. Market conditions can vary widely over time and there is always the potential of losing money when investing in securities. HORAN Securities, Inc and its affiliates do not provide tax, legal or accounting advice. Please see the SEC Investment Adviser Disclosure hub for our Client Relationship Summary and Forms ADV 1&2. Always check on who is managing investments at FINRA’s BrokerCheck. For free investment educational information, visit the SEC’s Investor.gov website. www.horanassoc.com 13

health.wealth.life.

Q LABORATORIES

Q Laboratories & A Culture of Improving Employee Lives Q Laboratories was founded in 1966 January 1, 2017, and the first order of

by Herbert Quinn. He operated a business was to fulfill Dave’s vision of small microbiology laboratory in the building a new lab, which opened in basement of his home, primarily 2018. testing water samples for his former employer, Procter & Gamble. Q Labs is now a $22 million laboratory serving the food, cosmetic, Michael Knight bought the firm in 1985, pharmaceutical, health & beauty care, establishing the analytical chemistry medical device and dietary supplement department and providing the firm industries. Their growth can be with the opportunity to expand its attributed to numerous factors. services. Fifteen years later, Dave Goins purchased the firm, becoming “We got very clear on the areas that the Laboratory Director. Dave’s passion we wanted to focus on and cultivated for chemistry and his respect and relationships with our clients so they appreciation for his employees helped could understand our full scope of the business grow. testing services,” said Fran. “One of our biggest differentiators is that our “Dave’s priority was to take care of clients can talk directly to a scientist if the people first. It created a strong they have a question or need support. foundation for our current employee That is one of the benefits of working culture,” said Fran Nunan, Vice with our lab."

President of Human Resources at Q Labs.

Hiring the right people is another factor that contributed to their growth.

When Dave was seeking an investor group to purchase the firm, he was “We offer unique career advancement seeking a leader who shared his value opportunities to our team because of prioritizing employees and their we are very focused on developing families. He found that in current the entrepreneurial spirit of our President, Jeff Rowe. employees,” said Lauren Williams, Senior HR Generalist at Q Labs. “For The transition officially took place on us to treat our clients right, we have 14

800.544.8306

to treat our employees right first."

Having flexibility in benefits and policies is important to Q Labs, especially with recruiting a large entry level workforce that may not utilize health benefits right away. Q Labs strives to offer a competitive benefits package that provides flexibility to their workforce while controlling costs.

“The first action HORAN took for us was to determine how competitive we were in the local market through a benchmarking process,” said Lauren.

“This provided us with the opportunity to evaluate and add services to address our employee population’s specific needs such as student loan resources and identity theft protection."

“We’ve worked with other brokers in the past, but have always come back to HORAN,” said Fran. “The HORAN team is proactive and brings many solutions to the table for us to consider.

Their level of service goes beyond traditional consulting. They help us enhance our employee experience through education and engagement, which goes a long way in maintaining our culture of caring for our employees,” added Lauren.

WORKING KNOWLEDGE

Volume 27

2022 Financial Wellness Education Webinar Series HORAN’s Financial Wellness Education webinar series is designed to educate individuals and their families on a wide array of financial and retirement planning topics. Our goal for this series is to help attendees make more-informed decisions when it comes to their personal finances and planning for their future retirement.

Each month the series will dive into a new financial wellness topic. Throughout the year our industry experts will cover budgeting, Medicare & Social Security, retirement planning, investment management, digital solutions for financial planning, building credit, life insurance, wills, managing debt and more.

Share this free learning opportunity with your employees.

Navigating Medicare & Social Security Thursday, July 21, 12 PM - 1:30 PM Thursday, September 15, 12 PM - 1:30 PM Thursday, November 17, 12 PM - 1:30 PM

Investment Management Thursday, June 16, 12 PM - 1 PM

The Guide for When You’re Gone Thursday, August 18, 12 PM - 1 PM

Retirement Readiness Thursday, October 20, 12 PM - 1 PM

Working with A Financial Advisor Thursday, December 15, 12 PM - 1 PM

www.horanassoc.com

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TRENDING NOW

the dublin offi ce rules!

ss of 97’! a l C , s t a r g n Co all for one! go muskies!

march company mee ting

er Chamb tucky n s e d r K a n w r Northe ess Impact A Busin

Julie Tople receives a Certificate of Recognition from the City of Montgomery

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account m traininganager day

TRENDING NOW

Volume 27

we love da yton! rfest horan winte

2021

new cincinnati home! uper bengalspasrty! bowl

we love the zoo!

Northern K entu Business Im cky Chamber pact Awards www.horanassoc.com

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GRUNDER LANDSCAPING

Client Spotlight: Growing with Grunder Marty Grunder began his landscaping business in 1984 to earn tuition money to attend the University of Dayton.

Almost 40 year later, Grunder Landscaping Co. has earned more than 50 local and national awards in recognition of their high-end residential and commercial design-build landscaping, commitment to quality customer service and excellent workplace culture.

By the end of 2022, Grunder Landcaping will have doubled in size over the past four years. Marty Grunder, President & Chief Executive Officer, attributes this incredible growth to the organization’s culture.

“Any businessperson reading this will know that if you double the size of your company while remaining profitable it’s a result of your culture working correctly,” said Marty.

“We have a talented team of individuals who are helping us achieve our goals on a daily, weekly and monthly basis.”

“

We have a talented team of individuals who are helping us achieve our goals on a daily, weekly and monthly basis.

“

Seth Pflum, Chief Operating Officer, joined Grunder Landscaping as a Designer in 2013 and has grown into his current leadership role by bringing innovative ideas, leveraging systems & technology as well as hiring a talented

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group of employees to accelerate Grunder’s growth.

“We’ve always taken care of our team and Grunder Landscaping has always been a great place to work, but since Seth joined the organization nine years ago, we are an even better place to work,” said Marty.

Grunder Landscaping attracts and retains its talented team by offering a well-rounded total compensation package and pathways for growth.

“We focus on providing our employees with a safe place to work, above fair compensation, ample opportunities for advancement and respect for everyone,” said Seth.

The organization’s total compensation package includes competitive benefit offerings. In 2019, Grunder Landscaping increased their employer-paid contributions for both its individual and family plans.

“We identified that we had a lot of younger team members who were getting married and starting families, and we wanted to be able to support them and offset some of their health insurance costs,” said Seth.

Volume 27

GRUNDER LANDSCAPING

PAVING THE WAY TO SUCCESS

28x

11x

10x

2x

Ohio Nursery and Landscape Association Award Winner

National Association of Landscape Professional Award Winner

National Association of Landscape Professionals Safety Recognition Award Winner

Better Business Bureau Eclipse Integrity Award Winner

Grunder Landscaping’s culture is rooted in taking care of its employees as well as the Greater Dayton community.

“If there is a chance for us to help in the community, we’re going to do it,” said Marty. “For a company our size we make a pretty big impact from a community involvement perspective.”

Grunder Landscaping contributes to many organizations throughout the Miami Valley region including the Foodbank, Catholic Social Services, Miami Valley Career Center, Upper Valley Career Center and many other non-profits supporting children, the arts and education.

“The Foodbank is the most near and dear to us. Every Christmas the whole team is given time off to volunteer at the food pantry,” said Marty.

When the Memorial Day Tornado came through Dayton in 2019, the entire company shut down so that team members could help the community clean-up efforts.

“More than 50 team members spent a day cleaning up the damage from the tornado,” said Seth.

“We called the Sheriff’s office and asked which neighborhood was in the worst condition. They gave us three streets and we cleaned up between all the houses so that Dayton Power & Light could restore the power lines,” said Marty.

Grunder Landcaping is paving the way towards an even brighter future. The organization has plans to launch Grunder Green, a turf fertilization program, later this year.

They are also looking to open a second branch further south along I-75 towards Cincinnati to reach more residential and commercial clients.

www.horanassoc.com

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8044 Montgomery Road Suite 640 Cincinnati, Ohio 45236

PRESORTED STANDARD US POSTAGE PAID CINCINNATI OH PERMIT # 8093

Securities offered through Horan Securities, Inc. (“HSI”), a dually registered investment firm, member FINRA | SIPC.. HORAN Wealth Management (“HWM”) is the associated SEC Registered Investment Advisor. HORAN Capital Advisors (“HCA”), an affiliated investment advisory firm, is also an SEC Registered Investment Advisor. Horan Securities, Inc., Horan Wealth Management, and HORAN Capital Advisors are part of HORAN, located in Cincinnati, Ohio. Investing in securities involves risks, and there is always the potential of losing money when you invest in securities. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results. Market conditions can vary widely over time and there is always the potential of losing money when investing in securities. HORAN Securities, Inc and its affiliates do not provide tax, legal or accounting advice. Please see the SEC Investment Adviser Disclosure hub for our Client Relationship Summary and Forms ADV 1&2. Always check on who is managing investments at FINRA’s BrokerCheck. For free investment educational information, visit the SEC’s Investor.gov website.