The majority of people need medical attention or advice at some point in time. Due to this healthcare has an increased price, and to cover these costs citizens have health insurance. We looked at large, small, and regional health insurance providers to find the best health insurance companies across the country. There are a host of private insurance specialists in the US that provides healthcare insurance coverage.
However, life/annuity and property/casualty insurers also write this coverage, often referred to as accident and health insurance, as outlined by the Insurance Information Institute. There are several health insurance companies in the US some of which are employer-based. These health insurance companies share alternative health benefit options for employers interested in something other than traditional group health insurance plans.
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What Is Health Insurance?
Health insurance is a contract that requires an insurer to pay some or all of a person’s medical expenses. People who are insured are more likely to go to the doctor when they need to because they know what it will cost. Unfortunately, going without health insurance coverage poses a risk to both your potential to get the care and your personal finances.
Health Insurance Coverage
All health insurance plans sold on the federal marketplace are compliant with the Affordable Care Act (ACA), meaning they must cover a set of 10 categories of services. These essential benefits include hospitalization, maternity care, mental health care, and prescription drugs, etc. What a plan covers outside these essential benefits will vary, so it’s important to read the fine print.
Top 10 Health Insurance Companies in the US in 2023
UnitedHealth Group Incorporated is an American multinational managed healthcare and insurance company based in Minnetonka, Minnesota. It offers healthcare products and insurance services. UnitedHealth is one of the top health insurance in the US that offers clinical expertise, advanced technology, and data and health information.
UnitedHealthcare provides healthcare coverage and benefits services, while Optum provides information and technology-enabled health services. It offers a variety of healthcare policies for citizens, employers, and medicare with over 13,000 contracted physicians and 6,500 hospitals. The company also provides online appointments and apple watch health tracking.
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2. Kaiser Foundation
Kaiser Foundation Health Plan, Inc. operates as a non-profit healthcare organization in the US. The company offers allergy, audiology, cardiology, dermatology, oncology, hospice, laboratory, nephrology, occupational therapy, pain management, pediatric rehabilitation, and pharmacy services.
Kaiser Permanente is a nonprofit organization that combines health insurance and the delivery of health services through integrated care so members get a “coordinated experience.” In addition to hospitals operated by Kaiser, its network includes doctors, pharmacies, labs, imaging, and other services. This integrated approach has resulted in a very low level of complaints from members.
Kaiser’s Thrive Local is a referral system that connects members to non-medical and socioeconomic services they may need, such as services for a disability.
Kaiser Foundation is the top-rated health insurance company in the U.S., according to available state data from the National Committee for Quality Assurance (NCQA). The company stands out for its good customer service and streamlined access to high-quality medical care. Kaiser Permanente consistently ranks as having the most satisfied customers. However, the average monthly cost for Kaiser Foundation is $454.
Available in: California, Colorado, Georgia, Hawaii, Maryland, Oregon, Virginia, Washington, and Washington, D.C.
3. Blue Cross Blue Shield (BCBS)
Blue Shield is one of the most popular health insurance companies in the US and its network includes 90% of the country’s doctors and hospitals. Conversely, because its plans are frequently more expensive than similar coverage from other providers, BCBS is not a good choice for those on a tight budget.
Blue Shield is made up of 34 independent and locally operated health insurance companies and certain BCBS plans can join Blue365 for free health and wellness discounts. BCBS provides discounts for certain fitness products. In addition, its members also get access to doctors and hospitals in more than 200 countries through Blue Cross Blue Shield Global Core.
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4. Anthem Inc.
Anthem, Inc. is the largest for-profit managed healthcare company within the Blue Cross Blue Shield Association of 36 different companies. It has a membership base that spans span 14 states and is headquartered in Indianapolis, Indiana, the US. It has a variety of health insurance plans available including options for individuals, families, Medicare, Medicaid, and group insurance.
Anthem health insurance individual plans are usually priced slightly lower than many competitors. You may find some great deals on policies, and in Kentucky, the Anthem Blue Cross and Blue Shield plan is the cheapest health insurance in the state. When comparing the average cost of Anthem to that of other insurance companies, the $477 monthly cost for a Silver Anthem policy is slightly higher than that of Cigna and much lower than that of Oscar.
However, the company has a poor reputation for customer service, has repeatedly been fined for violating customer grievance practices, and has a high rate of claim denials.
Available in California, Colorado, Connecticut, Georgia, Indiana, Kentucky, Maine, Missouri, Nevada, New Hampshire, New York, Ohio, Virginia, and Wisconsin.
Humana which started out as a nursing home company in the 1960s has grown to become one of the largest health insurance companies in the United States today. It has more than 80 million members of staff.
With 14 million customers and over $53 billion in annual revenue, Humana ranks as one of the top American health insurance companies in terms of size. Humana has its headquarters in Kentucky and its managed care plans for Medicare and small business are particularly notable.
Humana offers a wide range of healthcare-related individual insurance products, including health, dental, and vision. The company also sells life and supplemental insurance plans. Humana’s network includes more than 350,000 medical providers and over 3,000 hospitals. Its product offerings include HMO, PPO, POS, and EPO.
Available in Alabama, Arizona, Florida, Georgia, Kentucky, Louisiana, Michigan, Mississippi, North Carolina, Tennessee, Texas, Utah, and Virginia
6. Centene Corp
Centene Corp serves as an intermediary for government-sponsored and privately insured healthcare programs. It is the largest Medicaid-managed care organization in the U.S. Centene’s competitive advantage is driven by capability, capacity, scale, and more than 30 years of experience operating government-sponsored healthcare programs.
Centene provides a range of managed healthcare products and services. It operates through Medicaid, the State Children’s Health Insurance Program (CHIP), Long Term Care (LTC), Foster Care, dual-eligible individuals (Duals), the Aged, blind or disabled program (ABD), Medicare, and Health Insurance Marketplace.
The Company also provides a variety of specialty services focused on treating the whole person. Centene focuses on long-term growth and value creation as well as the development of its people, systems, and capabilities so that it can better serve its members, providers, local communities, and government partners.
Aetna sells traditional and consumer-directed health care insurance and related services such as medical, pharmaceutical, behavioral health, and disability plans, primarily through employer-paid (fully or partly) insurance and benefit programs, and through Medicare.
With Aetna’s MinuteClinics, you can access a variety of services with greater convenience and on short notice. You can schedule an appointment online to visit your local MinuteClinic seven days per week. Depending on your health needs, you may be able to get a prescription and pick it up on-site. This could be a good alternative to more expensive (and time-consuming) urgent care or emergency room visits.
Aetna offers HMOs, PPOs, EPOs, and HMO-POS plans in Bronze, Silver, and Gold metal tiers. The company also offers plans with medical management programs for a variety of conditions. Aetna is one of the best health insurance companies in the US.
8. Cigna Health
Cigna insurance subsidiaries are major providers of medical, dental, disability, life, and accident insurance and related products and services, the majority of which are offered through employers and other groups (e.g. governmental and non-governmental organizations, unions, and associations).
It offers a range of health, life, and accident insurance coverages primarily to individuals in the U.S. and selected international markets. The company also has certain run-off operations, including a Run-off Reinsurance segment. In the Phoenix metropolitan area, Cigna runs a full-service staff-model health maintenance organization.
HealthPartners serves more than one million medical and dental health plan members nationwide and ranks as one of the largest consumer-governed, nonprofit healthcare organizations in the US. It provides care, coverage, research, and education to improve the health of members, patients, and the community.
10. Health Care Service Corporation (HCSC)
Health Care Service Corporation (HCSC) is a member-owned health insurance company in the United States. HCSC is the licensee of the Blue Cross and Blue Shield Association for five states. As of 2019, it was noted to be the third-largest commercial health insurer in the United States. It offers group life, disability, and dental policies, as well as a range of other individual policies. The company also provides various care management and wellness resources.