Top 10 Health Insurance Companies in the U.S
There are many health insurance companies in the United States. They offer a variety of plans that suit the needs of individuals, families, and employers. Some of these health insurance companies are larger than others, and have a wider reach across the country. In this blog post, we will take a look at the top 10 health insurance companies in the United States.
Factors to Consider When Selecting a Health Insurer
The U.S. health insurance industry is large and diverse with thousands of health insurance providers. This calls for caution and care when selecting your health insurance provider. Below are factors to consider when selecting a health insurer.
Cost
The cost of health insurance is one of the most important factors to consider when selecting a health insurer. Make sure you compare health plans and select the one that best fits your budget.
Look at the pricing policy of multiple insurers with a focus on the amount per premium. Compare the size of the premiums vis-à-vis the service packages.
Network of health care providers
It is important to know if your health plan has a good network of health care providers in your area. Make sure to check the list of doctors, hospitals, and pharmacies that take part in the health plan’s network. It is also important to find out if there are any restrictions on where you can receive treatment or services.
Quality of service
Before selecting a health insurance company, make sure you read reviews about the customer service quality and overall experience other people had with them. This will help you get an idea about how satisfied their customers were with the service delivered by the health insurer.
Customer support
Your health insurance provider should be available to answer all your questions and provide help when needed. Find out what kind of customer support they offer, such as telephone, online chat, email, or in-person meetings.
Coverage
You should also consider the health insurance coverage offered by health insurers. Make sure to compare plans from multiple health insurers and choose the one with the most comprehensive coverage for you and/or your family’s health needs.
Top 10 Insurance Companies in the U.S.
Below are the top 10 insurance companies in the U.S.
UnitedHealth Group Incorporated
- Market Share: 14.1 percent
- Direct Written Premiums: $176.7 billion
UnitedHealth Group is the largest health insurance provider in the US, and has over 140 million members across all its health plans. It also provides healthcare services through its Optum subsidiary, which includes pharmacy benefits management, health information technology solutions, and health research.
In addition to having the most subscribers, UnitedHealthcare also boasts a large network of more than 1.3 million physicians and healthcare professionals. The insurer is also available in over 6,500 hospitals.
Anthem Inc.
- Market Share: 6.2 percent
- Direct Written Premiums: $76.9 billion
Anthem is one of the largest health insurance companies in the US and covers over 39 million people under its health plans. It offers a variety of health plans that include Medicare Advantage, Medicaid, dental coverage, vision coverage, life insurance and more.
A subsidiary of the Blue Cross Blue Shield Association, Anthem has operations in California, Wisconsin, Colorado, Virginia, Connecticut, Ohio, Georgia, New York, Indiana, New Hampshire, Kentucky, Nevada, and Maine.
Cigna Corporation
- Market Share: 5.2 percent
- Direct Written Premiums: $63.1 billion
Cigna health insurance company offers a wide range of health plans, including health savings accounts (HSA), health maintenance organization (HMO) and preferred provider organization (PPO). It also has partnerships with over 1 million physicians and health care professionals, as well as access to over 6,100 hospitals nationwide. In addition to health insurance plans, the company provides a range of life and disability coverage products for its members.
Aetna Incorporated
- Market Share: 4.9 percent
- Direct Written Premiums: $59.5 billion
Aetna is a health insurance company with over 22 million members across the US. It offers a number of health insurance plans such as health savings accounts (HSA), health maintenance organization (HMO) and preferred provider organization (PPO). Aetna also provides access to more than 1 million health care professionals, as well as a network of more than 5,800 hospitals nationwide.
Humana Incorporated
- Market Share: 4.8 percent
- Direct Written Premiums: $58.3 billion
Humana is one of the largest health insurers in the US, providing health coverage for over 13 million people across the country. Its health plans include Medicare Advantage, Medicaid, dental coverage, vision coverage and life insurance. The insurer also has partnerships with over 1 million health care professionals, as well as access to more than 5,400 hospitals nationwide.
Kaiser Permanente
- Market Share: 4 percent
- Direct Written Premiums: $49 billion
Kaiser Permanente, one of the nation’s largest health insurers, provides health coverage for over 10 million people across the US. Its health plans include health maintenance organization (HMO), preferred provider organization (PPO) and Medicare Advantage plans. The insurer also has partnerships with over 9,000 health care professionals, as well as access to more than 3,700 hospitals nationwide.
Health Care Service Corporation
- Market Share: 2.5 percent
- Direct Written Premiums: $29.6 billion
Health Care Service Corporation (HCSC) is a health insurance company that provides health coverage for more than 16 million people across the country. Its health plans include health maintenance organization (HMO), preferred provider organization (PPO) and Medicare Advantage plans. The insurer also offers access to over 7,700 hospitals nationwide.
Centene Corporation
- Market Share: 2 percent
- Direct Written Premiums: $24.4 billion
Centene Corporation is one of the nation’s largest health insurers with over 12 million members in 29 states and Washington D.C. It offers health plans such as health savings accounts (HSA), health maintenance organization (HMO) and preferred provider organization (PPO). The insurer also offers access to more than 3,000 hospitals nationwide.
Molina Healthcare Incorporated
- Market Share: 1.2 percent
- Direct Written Premiums: $15.4 billion
Molina Healthcare is a health insurance company that provides health coverage for over 5 million people across the US. It offers health plans such as health maintenance organization (HMO), preferred provider organization (PPO) and Medicare Advantage plans. The insurer also provides access to more than 2,600 hospitals nationwide.
Universal American Corporation
- Market Share: 0.5 percent
- Direct Written Premiums: $6 billion
Universal American is a health insurance company with operations in 11 states across the US. It offers health plans such as health savings accounts (HSA), health maintenance organization (HMO) and preferred provider organization (PPO). The insurer also provides access to more than 1,600 hospitals nationwide.
Final Word
In conclusion, these are the top 10 health insurance companies in the U.S that have superior healthcare coverage options available for those looking for quality health insurance plans. From individual health insurance to employer-sponsored health insurance, Medicare Advantage and Medicaid, each health insurer offers various health plans to meet the needs of different people. It is important to compare multiple health insurance companies when choosing a health plan to ensure that you have comprehensive coverage at an affordable rate.
