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List of top 10 great health insurance providers in the USA

List of top 10 great health insurance providers in the USA

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The Top health insurance companies the US are-  

In the US, there are some quite well-known hosts of private healthcare insurance specialists. That being said, however, life, annuity property, and casualty insurers also write on these coverages, often referred collectively to as accident and health insurance, outlined by the Insurance Information Institute.  

In the year 2020, the accident and health insurance industry’s direct written premiums reached about $1.25 trillion, which was up by almost a staggering 84% from the previous decade’s $680 billion in 2011. 

The largest 10 insurers collectively wrote about 55.3% of the total and entirety of the US healthcare market, according to the National Association of Insurance Commissioners (NAIC). Now that is a huge number, although it might not be surprising when you consider that health insurance is one of the most common types of insurance in the world. 

Also check our our blog: What is hospital indemnity insurance and how does it work?

Stats For Facts  

Based on NAIC’s 2020 data alone, here are the top 10 accident and health insurance groups in the US:  

United Health

United Healthcare

A diversified health and well-being focussed company, UnitedHealth Group’s core capabilities are well defined as clinical expertise, advanced technology, and advanced data analytics in average health information.  

UnitedHealth Group serves clients and consumers in the entirety of the US mainland and more than 130 other countries via two mainly distinct platforms: UnitedHealthcare provides unmatched healthcare coverage and benefits services, while Optum provides data information and technology-enabled health services. The group alone invests more than $4 billion in technology, innovation and processes. 

Kaiser Foundation

Kff : Kaiser Family Foundation - Health Policy Analysis

Kaiser Foundation Health Plan, Inc. works as a non-profit healthcare organization. The organization also offers allergy, audiology, cardiology, dermatology, oncology, hospice, laboratory, nephrology, occupational therapy, pain management, pediatric rehabilitation, and pharmacy services among others. The company serves patients primarily within the USA. 

Anthem, Inc.

Anthem Insurance

Anthem, Inc. is a healthcare benefits company that’s committed to improving the lives of communities and making healthcare simpler. Anthem, via its affiliated companies, serves over 106 million people, including over a whopping 42 million within its own family of health plans. It also claims to be the most innovative, valuable, and inclusive healthcare partner.  

The group’s affiliated health plans have created a variety of  HMOs, PPOs, network-based dental care products, various hybrid and specialty care products, and healthcare service plans that combine features that consumers find attractive with an affordable and effective cost control technique.

 Individuals and employer groups can select from basic and comprehensive plans to meet their suitable budgets and specific needs. A wide range of related specialty care products and other services are also available, including a flexible spending account and COBRA administration. 

Centene Corp

Centene Corporation

Centene Corporation is a Fortune 500 company and is a diversified, multinational healthcare insurer providing a portfolio of healthcare services to government-sponsored healthcare programs, focusing specifically on the uninsured and underinsured individuals. It operates in about 50 US states and roughly three international markets and hosts more than 25 million care managed members.  

Centene operates via local health plans and provides a range of custom insurance solutions. Also, partnering with other healthcare and commercial organizations to offer specialty care services, ranging from behavioral healthcare, dental benefits, life and healthcare, and pharmacy medicine benefits management to healthcare management software, rehabilitation, and correctional healthcare services, in-home mobile health services, managed vision, specialty pharmacy, and telehealth services among others. 

Humana

Humana Insurance

Direct Written Premiums Approx: $73.9 billion 

Market Share About: 5.9% 

Humana’s cultural foundation is aligned to helping its members provide their best healthcare needs by a personalized, simplified, whole-person healthcare experience. Recognizing that as each person, family, and community’s healthcare needs continue to evolve, Humana also believes in creating evolving innovative solutions and resources to help people live their healthiest lives on their own terms – when and where they need it the most. 

CVS

Cvs Insurance

CVS Health is again a very well known healthcare innovation company striving with purpose to help people on their path to better healthcare. Through its varied health services, plans, and community pharmacists, it pioneers a new approach to the totality of the healthcare spectrum.  

CVS has more than about 9,900 retail locations, nearly 1,100 walk-in medical clinics, a designated pharmacy benefits manager, and about 100 million plan members. CVS is a diversified healthcare benefits company hosting about 23.4 million medical members, with a dedicated senior pharmacy care business serving more than one million outpatients per year, also expanding its specialty pharmacy services and a standalone Medicare Part D prescription drug plan. 

HCSC

HcscHealth Care Service Corporation (HCSC), is a mutual legal reserve company, also the largest customer-owned healthcare insurance company in the US. The company hosts more than 16 million members across five major states – Illinois, Montana, New Mexico, Oklahoma, and Texas – and employs more than 23,000 ci in over 60 local offices. 

HCSC offers a wide variety of lifecare and health insurance service products. Attending its related service clients via affiliate groups and subsidiaries, including the Dearborn Group, Dental Network of America Medecision, HCSC Insurance Service Company, Availity, Prime Therapeutics, and TriWest. 

Cigna Health

Cigna-HealthCigna Corporation is a very well known global health service insurer with more than a 165 million customer base and outgoing patient relationships in over 30 countries and jurisdictions. Its insurance plans and service products include healthcare insurance for both individuals and families, dental insurance plans, Medicare plans, Medicare supplemental plans, other supplemental insurance, and an international health insurance  service also. 

Molina Healthcare, Inc.

Molina_Healthcare_Logo-320

Molina Healthcare is also a Fortune 500 company on the list, that exclusively focuses on government-sponsored healthcare programs for eligible and qualified individuals and families alike. The company partners with state governments and serves as a health plan provider with a wide range of quality healthcare services to individuals and families alike. 

Molina provides health plans in the States of California, Florida, Illinois, Michigan, New Mexico, New York, Ohio, South Carolina, Texas, Utah, Washington, Wisconsin, and also includes Puerto Rico. The company also sells a Medicare product and has been selected in many states to join in a dual demonstration project to manage health care for eligible Medicaid and Medicare beneficiaries. 

Independence Health Group

Independence Insurance

This Philadelphia-headquartered Independence Health Group, alongside its subsidiaries, hosts about 10 million clients in 27 US states and the District of Columbia. A quarter of its customer base network is in southeastern Pennsylvania itself. The company serves various employer groups, from small and midsize enterprises SMEs to national-level corporations.  

Among the variety of services the insurers generally offer are commercial, or Medicare and Medicaid coverage, pharmacy benefits management, compensations, and third-party benefits mostly. The company is also an independent licensee of the Blue Cross and Blue Shield Association. 

Conclusion  

The above stated listing mentions the top ten health insurers’ guide in the United States that are well worth your trusted money. 

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Most Asked Question

1) How many health insurance companies are there in the USA?
The exact number of health insurance companies in the USA is continually changing due to mergers, acquisitions, and market dynamics. There are numerous national and regional insurers providing health coverage.

2) What are the 2 most common health insurance plans?
The two most common health insurance plans are Health Maintenance Organization (HMO) and Preferred Provider Organization (PPO). These plans differ in terms of network restrictions and flexibility.

3) What is PPO and HMO?

PPO (Preferred Provider Organization): PPO health insurance plans offer more flexibility in choosing healthcare providers. Subscribers can visit both in-network and out-of-network doctors without a referral, but out-of-network services usually cost more.
HMO (Health Maintenance Organization): HMO plans often have a more restricted network. Subscribers usually need a primary care physician (PCP) and require referrals from the PCP to see specialists. However, HMOs often have lower out-of-pocket costs.

4) What is health insurance?
Health insurance is a type of coverage that pays for medical and surgical expenses incurred by the insured. It provides financial protection by covering a portion of the costs for healthcare services, medications, and preventive care.

5) What is a POS in medical terms?
In medical terms, POS stands for Point of Service. In the context of health insurance, a Point of Service plan is a hybrid plan that combines features of both HMO and PPO plans. It may require a primary care physician and referrals but allows some out-of-network coverage.

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