The NCEO’s mission is to help employee ownership thrive. In partnership with Innovative Captive Strategies (ICS) and Scott Insurance Services (an ESOP-owned insurance agency), the NCEO offers its members participation in OWN Health, a group captive insurance company exclusively for employee-owned companies. Its goal is to help members 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 plans. 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 NCEO member companies with employee stock ownership plans (ESOPs).
Who is OWN Health?
OWN Health currently has 15 policyholder companies that together have 2,835 covered employees representing 10 states. Learn more in this slide presentation.
What are the benefits of being an OWN Health member?
- Stability: Best-in-class ESOP companies join OWN Health to use their group purchasing power, to keep costs stable, and to spread their risk among a cleaner pool of like-minded companies. They receive asset protection and gain access to lower reinsurance costs.
- Control: Members gain transparency and access to their claims information and plan design flexibility.
- Opportunity: OWN Health members gain access to Fortune 500 resources, receive a return of underwriting profit and investment income, and enjoy peer group support and sharing.