– Top health insurance companies in the United States of America (USA) to look out for
In the United States, there are currently more than 900 Health Insurance companies that offer medical coverage. It’s hard to know how to even begin sorting through the multiple options.
Some of the legwork has been done for you by examining which health insurance companies in the U.S. are ranked highest on certain factors such as prevention, treatment, and customer satisfaction.
The largest health insurance provider is determined by the company that has the highest number of members (i.e the number of individuals who have enrolled in a health insurance plan with that provider).
Health insurance companies in the United States is majorly dominated by five firms
In order, the top health insurers by market share are;
Together, they control nearly 44% of the market.
UnitedHealthcare (70 million members)
UnitedHealthcare is the largest health insurance company by total covered lives. It generates a revenue of $257 billion yearly. UnitedHealthcare offers a variety of products from individual health insurance to full employer benefits plans for some of the biggest corporations. Furthermore, its policies can be purchased in all 50 states.
UnitedHealthcare is headquartered in Minnetonka, Minn.
Along with having the most members, UnitedHealthcare also has a care network of over 1.3 million physicians and health care professionals with more than 6,000 hospitals. This means that if you have UnitedHealthcare, you will have many options to choose from to receive care.
Anthem (39.9 million members)
Anthem is one of the largest medical insurance providers by total members, with almost 40 million lives covered and revenue of $122 billion.
The company’s Commercial and Business health care segment offers network-based care to large and small businesses, individuals, and Medicaid and Medicare markets.
The company currently operates in California, Colorado, Connecticut, Georgia, Indiana, Kentucky, Maine, Missouri, Nevada, New Hampshire, New York, Ohio, Virginia, and Wisconsin.
Aetna (22.1 million members)
Founded in 1853, Aetna is the third-largest provider of health insurance and services by the membership.
However, most of its membership comes from providing health insurance to employers and their employees in the private market.
Since 2015, Aetna has removed itself from all Affordable Care Act marketplaces due to a loss in revenue. Aetna was later acquired by CVS Health Corp. in 2018.
Cigna (20.4 million members)
Cigna is the fourth-largest major medical insurance company in the United States by the membership. Headquartered in Bloomfield, Cigna offers health insurance and health services to companies throughout the world.
In addition to corporate health insurance policies and management of those plans, Cigna also offers dental, behavioral health, vision, supplemental health, and Medicare/Medicaid retirement benefits.
Cigna currently offers individual health insurance in states including; Arizona, California, Colorado, Florida, Georgia, Maryland, Missouri, North Carolina, South Carolina, and Tennessee.
Humana (16.6 million members)
Humana comes in as the fifth-largest health insurance company by membership with a revenue of $77 billion annually. Humana was founded in 1961 and originally sold long-term care insurance before expanding into selling health insurance policies.
However, in 2017 the company announced that it would no longer be offering individual health insurance in the 11 states where it had previously provided plans.
All of these providers mentioned above offer basic health insurance products to individuals and companies, along with other services that include Medicaid and Medicare policies, long-term care insurance, dental insurance, and vision benefits.
Pick one and get insured!
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