Health insurance safeguards individuals and families from the uncertainty of illness, diseases, and long-term care expenses. It aids you in bearing the treatment cost that feels heavy on your pocket at the moment. This is why it is important to select the right health insurance. But, before selecting any health insurance company, it is important to consider these factors, including:
- Coverage needs (current health status, medical needs, medications, specialist/doctor preference, affordability, geographic area requirement)
- Insurance Plan type ( HMO, PPO, EPO, POS, HDHPs)
- Company availability in your region or area, and customer service quality
- Regional Company leaders to better understand area-specific healthcare needs.
If you are planning to take health insurance, here are the top 10 US-based health insurance companies that you can consider.
Top 10 Leading Health Insurance Providers
1. United Health Care
UnitedHealthcare (UHC) is known as one of the largest health insurance companies in the US. The company collaborates with more than 1.7 million medical providers and 7000 hospitals across the country. It offers health insurance plans to people of all ages, including individuals, employers, Medicare, and Medicaid (for low-income individuals) beneficiaries. UHC offers insurance plans for dental treatment, critical illnesses, accidents, student health, Medicaid, and vision procedures.
Pros:
- Most plans contain dental coverage for routine cleanings, examinations, and X-rays at $0 copay.
- Plans offering vision benefits cost $0 annual eye examination.
- Provide a monthly insulin supply at $35 for people under drug prescription coverage.
Cons:
- Premium plans are higher compared to the competitors.
- High rates of customer complaints against the industry average.
- The company offered plans in fewer states than in previous years.
2. Health Care Service Corporation (HCSC Group)
Partnered with Blue Cross Blue Shield Association, HCSC holds regional dominance in some states. It offers health plans in states like Oklahoma, New Mexico, Illinois, Texas, and Montana. People living in these states can get easy access to health insurance. The company offers life, health insurance, and other services through subsidiaries.
Pros:
- HCSC plans can cost more depending on age, income, and your plan choice.
- The company reinvests profits into community health programs and services instead of rewarding stakeholders.
- Plans include preventive care, prescribed drugs, fitness, and wellness programs as well.
Cons:
- Plans offered by the company vary from state to state.
- The plans are limited to only five states. You will be unable to enroll if you reside outside of these states.
- Deductibles and other costs on products vary significantly. You need to carefully check the benefits for specialist access and prescription coverage to avoid inconvenience later.
3. Kaiser Permanente
Also known as Kaiser Foundation Health Plan is the 6th largest insurance company in the U.S. Being a not-for-profit health insurance company, it serves as a bridge to connect teams of experts across different departments to co-work. The company believes that it will speed up the diagnosis, treatment, and recovery of patients.
It offers both health maintenance organization (HMO) and exclusive provider organization (EPO) plans. It offers insurance plans in the District of Columbia and eight other states, including California, Colorado, Georgia, Hawaii, Maryland, Oregon, Virginia, and Washington. The company offers Medicaid, employer-sponsored health insurance, Medicare, and individual and family health insurance.
Pros:
- Provides a comprehensive health system, reducing complaints ration and make healthcare seamless.
- Poses a very low complaint level, which indicates great customer satisfaction and the company’s responsiveness
- Effortlessly manage all membership and pay premium matters on the website or their app.
Cons:
Limited availability across the country, currently serving only 8 states.
4. Cigna Healthcare
Cigna offers health insurance coverage to individuals and families in 11 states. The company has a global network of over 2 million health care providers, clinics, and other facilities. Till now, it serves over 15 million medical and up to 16 million dental customers through public and private employer relationships.
Cigna’s health insurance plans include dental insurance, disability and vision insurance, accident insurance, group health insurance via employers, Medicare, and supplemental insurance. The cost of plans varies due to factors such as age, plan type, and location. However, the average per month plan cost for ages 21-60 is $460-$1249.
Pros:
- Provides a great digital experience from managing accounts online, finding doctors, to get updates about the insurance plans via the website.
Cons:
- The highest average monthly cost on ACA premium costing $608 per month.
5. Blue Cross Blue Shield
Blue Cross Blue Shield offers health plans in states such as Alabama, Arizona, Alaska, California, Michigan, Texas, Illinois, New York, New Jersey, Mexico and many more.
The company holds a wide range of health plans, including health maintenance organization (HMO), point of service (POS), preferred provider organization (PPO), and exclusive provider organization (EPO) plans.
It gives coverage to Americans living abroad and people travelling internationally as well. Their plans have group health insurance, individual health insurance, and Medicare. For those 21-60 years of age average health insurance plan cost varies from $479-$1301 respectively.
Pros:
- It gives a flex card in selected states, which works as a debit card to help you pay for OTC products, weight loss, and fitness services and memberships.
- Other than basics, it provides services like hearing aids, vision, and wellness services.
Cons:
- Benefits availability depends on the BCBS company location. Not every franchise has all the benefits and services.
- Limited information available on their website, so you need to go in person or call to get detailed information about plans.
6. Humana
Humana became a popular choice for eligible adults in the U.S. Around 5.8 million people have enrolled in its Medicare Advantage plans. Being one of the top private health insurance companies, it aims to support local communities.
It comes up with personalized health insurance plans, including vision and dental insurance. The company provides insurance plans to individuals, families, and employers. It also provides a wide range of both Medicare and medicaid plans to people aged 65 or older.
The company has invested in preventive services, chronic condition management, and home-based care programs. Most of the Humana plans have benefits for vision, dental procedures, drug prescription, gym membership, and other fitness programs. Besides other plans, it offers medicare plans in Washington, D.C., and 48 other states.
Pros:
- Humana’s medicare plans gives coverage of a $2000 cap on out of pocket drug costs.
- Plans with vision benefits provide new glasses every year.
- Full access to PPO plans allows beneficiaries to see any doctor who accepts Medicare.
Cons:
- Offers medicare advantage plans in few states than last year.
- Fitness benefits may not be available with all plans and every location.
- Medicare beneficiaries with long-term care facilities are available only in 13 states.
7. CVS Health- Aetna
Aetna comprises a large network that includes 1.8 million health professionals, 828,000 primary care providers, 6,200 hospitals, and 341,000 behavioral health providers. It is offering 8 comprehensive medical plans for treating conditions like depression, asthma, and chronic pain management.
The health insurance plans cover dental, vision, SilverSneakers, and hearing benefits. The average health insurance plan cost varies from $486-$1321 for individuals aged 21-60 years, respectively.
Pros:
- Offers an extra benefits card for heavy medical expenses to pay for OTC products.
- All plans have $0 hearing examination and hearing aid benefits.
- Giving a $0 routine eye exam on all plans.
Cons:
- Offering plans to limited states.
- Access to Aetna’s holistic primary care program for older adults is not available in all locations.
- Extra benefits card access varies by plan and requires members to meet certain eligibility criteria.
8. Centene Corporation
The St. Louis-based private healthcare company was founded in 1984. It provides both government and commercial insurance plans. This health insurance company is known as the largest Medicaid managed care organization in the country. It aims to help underprivileged people.
It covers low-income individuals, children, and women. Centene also offers behavioural health services, clinical health care, pharmaceutical solutions, mental health support, vision, and dental services in different states and regions.
Pros:
- Serving as the largest medicaid care organization covers millions of low-income individuals.
- Providing high-quality facilities that help members access services that are not affordable to them or cost exceeding at the moment.
- Have efficient teams to understand local healthcare challenges and address them accordingly.
Cons:
- High customer service level indicates customer dissatisfaction.
- Most plans work as an HMO (Health Maintenance Organization), which does not cover out-of-network care except in emergencies.
9. Guidewell (Florida Blue)
Previously known as Guide Well Mutual Holding Corporation. It mainly serves in Florida, offering a wide range of health insurance products such as ACA (Affordable Care Act) plans and medicare. The company is associated with the Blue Cross Blue Shield network. They primarily focus on providing services in Florida. The company offers insurance plans to families, individuals, employers, and government-sponsored programs.
Pros:
- Most plans contain telehealth options, mobile apps, and other digital services to manage processes effectively.
- Some of the plans offer wellness and reward programs that earn incentives for healthy behaviour.
- Physical Florida Blue Centers across Florida help with enrollment in fitness plans.
Cons:
- Out of pocket costs in copays and deductibles can be higher depending on the plan you choose.
- It does not offer medicare and medicaid plans outside Florida.
- A multiple company network with different names may create confusion when finding a doctor in your area/network.
10. Molina Healthcare
The company specializes in working on government-based healthcare insurance programs. It focuses on underserved communities and low-income individuals. The company aims to deliver effective, reliable, and affordable healthcare to deserving people.
The medicaid plans cover low-income adults, families, children, pregnant women, and people with disabilities. It includes hospitalisation, primary care, and pharmaceutical services. It covers dental, vision, OTC, and wellness benefits that are included with many plans.
Pros:
- Affordable ACA and Medicare Advantage plans with $0 premium options.
- Diverse medicaid presence and coverage across multiple states
- Providing dual-eligible Medicare-Medicaid plans.
Cons:
- Higher complaint rates regarding billing and service.
- Not available in all U.S. states.
Conclusion:
Health insurance companies are evolving their businesses to provide better healthcare plans. While selecting the best health insurer, analysing coverage needs, affordability, regional access, and company services help you make better decisions. Each mentioned company has its own strengths and weaknesses. That is why it is important to choose the health insurance company that fits your budget, health needs, and location.
