The San Diego gathering of OWN Health captive members offered a window into how employee-owned companies are reimagining healthcare benefits through collective action. With 13 member companies present, the meeting revealed the advantages that emerge when ESOP companies approach healthcare challenges collaboratively rather than in isolation. Unlike the typical insurance conference where vendors pitch solutions to passive buyers, this meeting emphasized the impact of employee ownership culture on ESOP company healthcare decisions and outcomes.
What struck me most was the intersection of financial pragmatism and employee-owner values. Healthcare represents the second-largest employee expense for most companies, yet the conversation was about far more than mere cost reduction. Members discussed strategies for employee engagement around health and wellness, recognizing that employee-owners approach benefits differently than traditional employees because they understand the long-term implications of collective health outcomes on company performance.
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The OWN Health meeting in full swing!
The OWN members reported a satisfaction rating of 9.73 out of 10, and company testimonials revealed an alignment between the insurance captive and their aims as employee-owned companies, something that was built on over the course of the event. MLSC Holdings mentioned feeling "renewed and refueled" following the meeting, while relative newcomer Archer expressed appreciation for the "strong support and dedication" of both the providers as well as their fellow companies in the captive.
The meeting's success underscores a principle that extends beyond healthcare: employee-owned companies can achieve outcomes unavailable to traditional enterprises when they fully embrace their collaborative potential.
Interested in learning more about OWN Health? Join an upcoming webinar on June 24 at 9:30am Pacific that offers an opportunity to explore whether this approach aligns with your company's ownership culture and strategic objectives. Click here to register.
About OWN Health: OWN Health is a health insurance group captive program exclusive to ESOP companies, where self-funded ESOPs have come together to create their own insurance company. The benefits of this program are financial opportunity maximization, renewal stabilization and consistency, and collaboration on controlling healthcare spending.
OWN Health member companies reap the benefits of this captive program: they are spending less in their self-insured claims, appreciating renewals that outperform the traditional market, and receiving profit distributions for great claims performance. Not to mention collaborating with and learning from their ESOP peers!
OWN Health is predicated on the idea that employee-owned companies present better risk profiles, enabling them to negotiate from a position of strength in the healthcare insurance marketplace. Where does that idea come from? From the alignment between personal and company interests that characterizes employee ownership. When workers are also owners, preventive health measures and long-term wellness investments carry different weights in decision-making processes.