Best health insurance companies: More than half of the market is dominated by the top health insurance providers in the nation. See this guide to see what kinds of coverage certain insurance provide.
With $821.5 billion in premiums written over the course of the previous year, the ten biggest health insurance providers in the US have approximately 57% of the market share. These numbers are from the National Association of Insurance Commissioners’ most recent market share data (NAIC).
Insurance Business examines these massive players in the market in more detail in this article. We’ll examine the underlying data and provide you with an overview of these businesses’ offerings.
You’ve come to the correct spot if you’re looking for more information about the top health insurers in the country. This guide will introduce you to the top 10 health insurance providers in the nation.
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The US top ten health insurance providers were disclosed
Over $1.44 trillion in premiums were written by the nation’s accident and health insurance business last year, an astounding 112% increase from $680 billion in 2011. This suggests that there is a thriving health insurance market that meets the needs of the American people in terms of healthcare and medicine. Best health insurance companies
According to the most recent industry data from NAIC, these are the top 10 health insurance providers in the nation. Direct written premiums are used to order the list (DWP). Best health insurance companies
Headquarters: Minnesota’s Minnetonka
DWP: $214.4% of GDP
Share of market: 15.4%
With 6,200 hospitals and more than 1.5 million physicians and healthcare professionals, UnitedHealth Group has a robust network. The nation’s over 49 million members of the insurance receive medical and dental services from these specialists. The membership of the organisation is broken down here.
All around the country, UnitedHealth insurance are offered. Via its two business divisions, the massive health insurance company provides services and benefits. These are the following:
1.Health Care for All
The company’s health insurance division, UnitedHealthcare, provides members with a variety of medical services and coverage. These consist of: Best health insurance companies
UnitedHealthcare Medical Products: A range of reasonably priced health insurance plans offered via its extensive hospital and physician network.
UnitedHealth Wellness: The wellness offerings and programmes chosen by the insurance provider.
Oxford Health: Provides members in Connecticut, New Jersey, and New York with a selection of reasonably priced healthcare goods.
Online Services: The myuhc.com website provides simple-to-use online resources.
Members can use their mobile devices to obtain healthcare services through virtual visits.
Business travel insurance provides mobile employees and their dependents with a range of travel, medical, and personal assistance services.
The technology division of the massive health insurance company, Optum, provides information and tech-enabled services across three platforms:
Optum Health provides medical services and healthcare to more than 102 million people.
Optum Insight: Offers life sciences companies, governments, and medical professionals research, analytics, and consulting services.
Members of Optum Rx get access to reasonably priced pharmaceutical goods and services.
Headquarters are in Indianapolis, Indiana.
$103.4 billion for DWP
Share of market: 7.2%
Elevance Health changed its name from Anthem to Elevance in June 2022. To serve its more than 47.5 million members, the insurance makes use of its network of 1.7 million physicians and medical facilities. Twenty-one million patients at risk are included in this total. Best health insurance companies
Elevance Health is the largest managed healthcare provider in the Blue Cross Blue Shield Association and is also one of the top health insurance firms in the United States.
This industry leader provides a range of health insurance policies that cover dental, vision, and medical care. Through the group’s Anthem Blue Cross Blue Shield and Wellpoint brands, these policies are offered to companies, individuals, and their families.
Additionally, Elevance Health offers a variety of healthcare services to its members via its Carelon brand and other subsidiaries. In fourteen states, the company’s rules are accessible.
Main office: St. Lewis, Mo.
$196,4 billion in DWP
Share of market: 6.7%
For Americans who are uninsured or underinsured, Centene offers a range of services to government-funded healthcare programmes, such as Medicare and Medicaid. The insurer serves more than 28 million members in all 50 states, making it the biggest Medicaid managed care provider in the nation.
Centene provides health insurance and health plans in the area. To offer members specialised services, the organisation collaborates with other commercial and healthcare organisations. These consist of:
- mental well-being
- dental advantages
- Software for managing care
- services for correctional healthcare
- At-home medical care
- Health and life insurance
- Coordinated eye care
- Benefits management for pharmacies
- specialised drugstore
- Telemedicine offerings
Nationwide, 67,800 workers support Centene.
Headquarters: California’s San Francisco
$89,2 billion in DWP
Share of market: 6.2%
One of the biggest healthcare non-profits in the nation is Kaiser Permanente. 12.7 million members are served by the insurer. California, Colorado, Georgia, Hawaii, Maryland, Oregon, Virginia, Washington, and the District of Columbia all offer its health plans. Best health insurance companies
Budget-based plans are offered by Kaiser Permanente and include the following coverage:
These services are provided by Kaiser via its extensive network, which includes:
- 23,982 doctors
- 2,818,218 nurses
- 39 medical facilities
- Hospital 622
Plans offered by the health insurance have affordable premiums and no deductibles. The corporation employs about 212,970 people to run its operations. Best health insurance companies
Headquarters are in Louisville, Kentucky.
$87.0 billion in DWP
Share of market: 6.0%
Humana is a major managed care organisation in the United States, serving over 17 million people in all 50 states. Affordable options are provided by the health insurer to individuals, employer groups, and anybody else looking for government-sponsored policies. These consist of:
- Medicare schemes
- Medicare programmes
- programmes for dental insurance
- Plans for group health
- prescription drug plans
- plans of vision
Humana offers its products and services to its members on three platforms:
Health Services: Provides companies, people, and Humana subsidiaries with wellness and healthcare products and services.
Group & Specialty: Offers commercial health insurance and benefits for specialised medical treatment to both individuals and groups.
Retail: Contains individual health plans such as Medicaid and Medicare.
At Humana, there are roughly 67,100 workers. Best health insurance companies
Main office: Rhode Island’s Woonsocket
Total DWP: $83.9 billion
Share of market: 5.8%
One of the biggest health insurance providers in the country, CVS Health offers a variety of healthcare benefits. In all 50 states, it provides services to over 23 million members.
In the US, CVS Health has almost 1,100 walk-in clinics in addition to more than 9,900 retail stores. In addition, it runs a senior pharmacy care business that sees more than a million patients annually and a pharmacy benefits manager with around 100 million plan participants.
The typical benefits are offered by the health insurance giant’s policies. Additionally, members have access to stand-alone Medicare Part D prescription medication insurance and specialty pharmacy services. Best health insurance companies
Headquarters: Chicago, IL
$51.0 billion in DWP
Share of market: 3.5%
HCSC, also referred to as Health Care Service Corporation, functions as a mutual legal reserve company. With over 18.6 million members, it is also the biggest customer-owned health insurance provider in the nation. Through its subsidiaries, the insurer provides life and health insurance products as well as associated services, such as: Best health insurance companies
- Insurance Services Company HCSC
- Alliance for TriWest Healthcare
- Principal Medications
- medical judgement
- Group Dearborn
- Dental America’s Network
Among the most well-known health insurance companies in the US, Blue Cross Blue Shield Association, is a member of which HCSC is a member. The states of Texas, Oklahoma, New Mexico, Montana, and Illinois offer the insurer’s coverage. HCSC has almost 22,000 employees.
Head office located in Bloomfield, CT
Share of market: 2.4%
In the US, Cigna is a worldwide health insurance with about 19.5 million members. With about 190 million customers spread across more than 30 countries and territories, it is also among the biggest health insurance providers in the world. Best health insurance companies
Cigna provides health and dental insurance in the US, including Medicare plans, coverage for overseas medical travel, and supplemental health insurance. It uses two business segments to distribute its goods:
Cigna Healthcare: Offers goods and services to members to help them become healthier and feel better at every stage of life.
Evernorth Health Services: Provides members with access to pharmaceutical and healthcare products and services, with the goal of facilitating disease prevention and treatment.
There are sixteen states where Cigna health plans are offered: Best health insurance companies
Head office: California’s Long Beach
Payroll: $28.8 billion
Share of market: 2.0%
Government-sponsored programmes for qualified individuals and families are Molina Healthcare’s area of expertise. These 18 states account for roughly 5.1 million of its members:
Molina Healthcare offers a variety of healthcare services to people and families in collaboration with state governments. Several states have selected the health insurer to participate in dual demonstration projects, which will oversee the treatment of individuals who meet Medicare and Medicaid eligibility requirements. Best health insurance companies
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Headquarters are in Jacksonville, Florida.
DWP: Twenty-six percent
Share of market: 1.8%
As a non-profit mutual holding company, GuideWell does business. It covers 35 states and about 27 million members. The company has a number of subsidiaries that provide health insurance. These consist of: Best health insurance companies
Florida Blue: is a nearby Blue Cross Blue Shield provider that offers the people of the state a variety of healthcare services. These consist of preventive care, wellness initiatives, and medical treatments.
Florida Health Care Plans: Provides local people, families, and employers with high-quality health coverage and care services.
Truli for Health: Offers workers in Florida access to reasonably priced health insurance.
Capital Health Plan: Provides residents in the Tallahassee region with reasonably priced healthcare coverage.
- The biggest health insurance provider in Puerto Rico, Triple-S Salud, provides open-access network health plans.
- In addition to health insurance, GuideWell offers medical services and administrative support for healthcare.
- The top ten health insurance providers in the US are shown below.