3 minute read
Diverse Supplier Spotlight: Osprey Health
BY AMANDA SCHIMMEL
For years, providing a barebone medical, dental, and vision plan for employees was the baseline insurance package that many companies utilized. While still popular today, this traditional coverage lacks the power to mold itself for smaller businesses and those with unique circumstances. With an increasing need for personalized group benefits, Osprey Health charged the field with an out-of-the-box approach to customizable packages that excel in satisfying each client’s needs.
Founded in 2010, President Meg McGinn formed Osprey Health after realizing that small business owners were not privy to the same care and attention as larger corporations. With an extensive background in the employee benefit industry, McGinn recognized a gap that needed to be bridged. She explains, “I wanted to cater towards this whole sector of the marketplace that was not receiving the same white-glove service as those around it. We were finding that you would have an employee base that didn’t necessarily need dental and vision, but still wanted the disability or mental health coverage, and these larger insurance carriers were not able to accommodate them.”
Composed of a deeply passionate team of professionals, Osprey Health’s strength lies in their ability to listen to and advocate for their clients. McGinn remarks, “The cornerstone of my agency is our commitment to taking care of the clients. If there is one thing I can say about my team, they are experienced and knowledgeable, but they also care a lot about the individuals calling in.”
The organization also provides significant support to the LGBTQ+ community. When an individual chooses to transition, substantial red tape from insurance carriers is almost inevitable and it takes somebody who is especially knowledgeable—like Osprey Health is—to help guide the individual through this maze.
Further diversification lies within Osprey Health’s Women’s Business Enterprise National Council (WBENC) accreditation, from which 25% of Osprey Health’s client portfolio comes directly. “By going through this accreditation process—which actually takes about six months and must be renewed every year—it allows us to reach out and connect with larger companies that have committed to partnering with WBENC certified companies,” says McGinn. In order to become WBENC certified, the organization must be a for-profit business located in the United States; 51% owned by a woman, or a group of women who are verified owners and U.S. citizens or legal residents; and have a woman top executive officer with technical expertise.
As for the future of Osprey Health, it could not look any brighter. Having grown over 400% within the past five years and boasting a 98% client retention rate, they are on a trajectory to continue growing at 100% revenue for at least the next several years. McGinn perfectly summarizes the core essence of Osprey Health when she explains, “We are not just processing paperwork, we are here to help the mother at the pharmacy whose I.D. card is not going through; we are here for the senior who got billed for a procedure that should have been covered; and we are here for the small business owner whose budget was just slashed in half, yet still wants to give back to the employees.”
