Owens & Minor Employees: How Your Credit Score Influences Your Insurance Premiums

Healthcare Provider Update: Healthcare Provider for Owens & Minor: Owens & Minor, Inc. is a healthcare solutions company that partners with various health care providers, offering a broad range of essential products and services. While Owens & Minor does not operate its own healthcare provider network, it supplies hospitals, healthcare providers, and other institutions through its vast logistic capabilities and product offerings within the healthcare sector. In 2026, Owens & Minor employees may face significant healthcare cost increases due to a perfect storm of rising premiums in the ACA marketplace and higher medical costs. Premium hikes by major insurers could average 18%, with some states seeing increases as high as 66%. The loss of enhanced federal subsidies at the end of 2025 could exacerbate the situation, leading to potential out-of-pocket premium increases of over 75% for many enrollees. It's crucial for employees to explore their options early and consider adjusting their healthcare benefits to manage these impending costs effectively. Click here to learn more

As an employee of Owens & Minor you may find it interesting to know, one landmark study found that credit-based insurance scores are used by about 95 percent of all auto and home insurers in calculating the cost of insurance to individuals.

While the vast majority of insurance companies use credit-based insurance scores to help determine the price of insurance, it is banned in the states of Massachusetts, Hawaii, and California. Some states only allow it as a factor for property insurance like auto and homeowners insurance. Other states allow it to be used with any type of insurance.

Several Factors

Generally, an insurance company will use a credit-based insurance score as just one factor in its underwriting process. We'd also like to remind our Owens & Minor clients that other factors may be considered, depending on the type of insurance. For example, with auto insurance, other factors could include your zip code, the age of the drivers, the make, model and age of the car, and the number of miles you drive annually.

The use of credit scores to determine insurance rates is rooted in research that has shown individuals with lower credit scores had higher car insurance losses and higher claims payouts.

You can ask your insurance company if a credit-based insurance score was used to underwrite and rate your policy, and in which risk category you were placed.

For Owens & Minor employees who want to improve their credit-based insurance score, you should consider taking the same steps you would to improve your credit rating: make timely debt payments, clear up past disputes and keep credit card balances low.