Outside talent, Pt. 1: Corey Koskie's journey from baseball to benefits

This three-part series examines the paths of professionals who have joined the benefits world after successful careers in other industries.

As the benefits space continues to seek an injection of new talent and ideas, many companies and leaders are looking outside of the industry for fresh faces and new perspectives. And the appeal for those in other industries may be stronger than ever.  This three-part series examines the paths of professionals who have joined the benefits world after successful careers in other industries. 

The ballplayer

Corey Coskie, president, Elavate Advisor Group

During his time with the Minnesota Twins, Corey Koskie was well-known as an athletic third baseman and clutch hitter. When his fifteen-year career in the major leagues ended due to injuries, Koskie returned to the Twin Cities looking for business opportunities, which ranged from owning the city’s first Planet Fitness franchise to being an advisor for a venture fund.

Today, Koskie is president of Elevate Advisor Group, a brokerage that specializes in strategies including individual coverage health reimbursement arrangements (ICHRAs), which allow self-funded plans to offer personalized HRAs to employees. He compares his company to a high-end homebuilder, customizing plans to fit the unique needs of an employer. “When I’m going in, I’m looking for the best solution for this organization,” he says. “We’re not worried about margins and profits; at the end, if we do right by people, we’ll be taken care of.”  

Koskie, who learned a lot about the complexities of health insurance in his early days as a business owner and employer, took a while to warm up to the idea of joining the benefits industry. When someone he worked with as an investor suggested he could sell insurance, “My first reaction was, ‘absolutely not.’”  

But he realized he had dealt with insurance issues on three levels during his life: as a professional athlete who worked through injuries; as a business owner; and as someone who grew up in Canada under a significantly different health care system. Over time, he became interested in finding solutions to the health insurance problems he had seen in the U.S.

“I’m a big believer in the American system, because I’ve lived in both systems, and the American system has the opportunity to do something pretty special,” he says. “We can provide a level of transparency that you’re not going to find in any socialized system.”

Koskie faced a steep learning curve as a new advisor, but he said he applied a lesson from his years in baseball. “When I first got into the big leagues, I surrounded myself with people who had been in the league a long time. I talked to guys who had a lot of success, not just from the productivity standpoint, but from a longevity standpoint,” he says. “It’s hard enough to get into the big leagues, but it’s even harder to stay.”

He puts an emphasis on data analytics. “The data is out there,” he says. “What you do with that data is key. It’s a matter of finding the right partners to help you build the right plan.”

Drawing on the knowledge and innovation of those who have had both success and longevity is key to Koskie’s approach. He says he looks for the best third-party administrators and providers to work with. “That is my ultimate vision. To build out my major league.”