Stop renting insurance and OWN it!
As an employee-owned company, you understand the value of having a superior workplace culture, greater productivity, and an ability to maintain your independence. But what if you could stop renting and take OWNership by investing in your health insurance like you invest in your employees?
Our mission at the NCEO is to help employee ownership thrive. In partnership with Innovative Captive Strategies (ICS) and Scott Insurance Services (an ESOP-owned agency), the National Center for Employee Ownership (NCEO) is excited to bring you an opportunity to learn about OWN Health, a captive exclusively for employee-owned companies to help reduce insurance costs and gain control, stability and opportunity!
What is a group captive?
A group captive is an insurance company that is formed by a group of organizations to help insure each other’s business risks or health plan. A captive insurance company is an alternative to the traditional insurance market and is managed and owned by its policyholders. OWN Health is group health insurance captive designed specifically for Employee Stock Ownership Plan (ESOP) companies.
Who is OWN Health?
OWN Health currently has 11 policy holders and 2,230 covered employees representing 8 states!
What are the benefits of being an OWN Health member?
- Stability: We select best-in-class ESOP companies to join OWN Health. Utilize your group purchasing power, keep costs stable and spread your risk among a cleaner pool of like-minded companies. Receive asset protection and gain access to lower reinsurance costs.
- Control: Gain the transparency you deserve with access to your claims information and plan design flexibility.
- Opportunity: As an ESOP company, gain access to Fortune 500 resources, receive a return of underwriting profit and investment income, and enjoy peer group support and sharing.
Performance to Write Home About
Is OWN the home that your ESOP has been waiting for?
Ideal captive candidates will have 50+ employees and/or more than $500K in fully insured equivalent premium. Companies with above average demographics, good historical claims experience, and a strong focus on employee wellness are ideal. In addition, companies will exhibit strong corporate leadership that values employees and embraces health and wellbeing efforts. All ESOP companies interested in participating should be working closely with their broker partner and Innovative Captive Strategies (ICS) to ensure an easy captive insurance transition.
We welcome participation by other insurance agencies. If you are an advisor or work for an insurance company that is an NCEO member and are interested on behalf of your clients, please contact Suzanne Vinson ([email protected]) so you can learn about participating.
If you work at an ESOP-owned NCEO member company or are a Service Provider interested in learning more:
- Reach out to Sara Stopulos ([email protected]) at ICS to learn more and set up additional education opportunities.
- Register for our NCEO webinar series on June 18: Stop Renting Your Insurance – Grab the keys and take ownership with ICS Group Captives on 12:30 PM ET (registration required, CE offered)
Read more:
- OWN Health overview one-pager
- OWN Health FAQs
- NCEO Blog