The Top 10 Best Health Insurance Companies In USA
Which health insurance companies in the United States are the best? When your company provides a variety of health benefits or you need to choose a private health insurance package, it is difficult to know where to start digging through all of the choices.
We have done some of the legwork for you by looking at which health insurance providers in the United States have the best prevention, care, and consumer satisfaction ratings. We chose nine companies with a diverse product offering, including national providers and a few highly regarded regional businesses.
The best health insurance company for you will be determined by your health and financial situation. However, it is not always about the cost. Some health insurers provide low-cost coverage but provide poor customer service or have a limited provider network.
We examined premium costs, customer service, provider networks, and the financial strength of the top health insurance companies to assist you in shopping for the best deal. Here's what we discovered.
Aetna
Aetna has a great reputation and is one of the largest health insurers in the United States. It has an AM Best financial strength rating of “A” (excellent). 6 Aetna was acquired by CVS Health in 2018, but it continues to provide employer health plans to residents of all 50 states in the United States. Aetna provides low-cost private health insurance plans that cover preventive care, hospitalization, office visits, immunizations, and other essential health care services. Members can also enroll in HSA plans (available for high-deductible plans).
Because there is a large provider network, members will be able to find an Aetna-approved provider no matter where they live in the country. Network plan options allow members to see any licensed doctor or any in-network doctor, though seeing a network doctor will save the most money. Aetna provides a variety of provider plans such as HMO, POS, PPO, EPO, and HDHP with HSA. Aetna members can also take advantage of a variety of wellness programs, such as gym memberships, weight-loss programs, health coaching, and more.
Blue Cross Blue Shield
Blue Cross Blue Shield of California provides health insurance to one out of every three Americans. Anthem, Independence, Hawaii Medical Service, Highmark, and Wellmark are some of the names on various state plans, but the 36 independent and locally operated Blue Cross Blue Shield companies operate in all 50 states. More than 90% of doctors and hospitals in the United States have contracts with Blue Cross Blue Shield companies, more than any other insurer.
In 2019, more than 40 Blue Cross Blue Shield company plans received moderate to high NCQA ratings for clinical quality and member satisfaction, while 10 Anthem plans—including some with lower overall ratings—performed admirably in the customer satisfaction category.
The Blues provide employer insurance, individual policies through healthcare.gov, and Medicare plans in a variety of configurations (Medigap, Prescription Drugs Part D, and Medicare Advantage).
Cigna
Cigna is a global health insurance company that provides private health insurance in ten states in the United States: Arizona, Colorado, Florida, Illinois, Kansas, Missouri, North Carolina, Tennessee, Utah, and Virginia. AM Best rates its financial strength as “A” (excellent). Depending on your plan, referrals for out-of-network care may or may not be required. Using an in-network provider results in the greatest savings.
Plan options, deductibles, and co-pay amounts differ by state. High-deductible plans, as well as HSA plans, are available. Policyholders can use the internet to find plan network doctors, estimate costs, check claim status, and obtain insurance ID cards. Access to a home delivery pharmacy, a health information helpline, rewards programs, flu shot information, and the Cigna telehealth connection program, which gives you access to board-certified telehealth providers such as Amwell and MDLIVE, are among the appealing member benefits.
Why we chose it: Cigna has excellent financial strength ratings and does not require out-of-network approvals. It provides excellent telehealth services to its members.
Molina Healthcare
Molina Healthcare made our list because it specializes in providing low-cost healthcare to people on government assistance. You can apply for a comprehensive Molina plan through Medicaid, Medicare, or Integrated Medicaid/Medicare. You may also be eligible for subsidies if you have a Marketplace Molina plan. The company promises to keep out-of-pocket costs low, and the MolinaCares Accord reaffirms its commitment to improving access to quality care for all, making it our top pick for underserved groups.
Molina Healthcare focuses on providing low-cost healthcare to low-income families. If you are self-employed and struggling to make ends meet, you may be eligible for Medicaid through Molina, which provides comprehensive benefits. Qualified Illinois residents may also enroll in the Molina Dual Options plan, which combines Medicare and Medicaid benefits.
United Healthcare
UnitedHealthcare (UHC) is a subsidiary of UnitedHealth Group, the largest health insurer in the United States, and has a “A” (excellent) financial strength rating from AM Best. It provides individual insurance that satisfies the essential care requirements of the Affordable Care Act (ACA). Access to online care, including the ability to order prescriptions online, speak with a nurse via a hotline, and participate in online wellness programs, is a real standout feature for UHC members. Members can also go online 24 hours a day, seven days a week to find doctors and set up appointments, file claims, and even speak with a doctor via mobile device. It even has a mobile app so you can access these resources while you are on the go.
UHC is an excellent option for people who want to manage their health care electronically. There are HMO and PPO plans available, as well as HSA and FSA access. Hearing aids, vision services (including Lasik), and smoking cessation programs are all available at a member discount. UHC has over 1.3 million physicians and other health care professionals in its preferred provider network. In addition, UHC provides Medicare Advantage HMO and PPO plans.
Kaiser Permanente
Kaiser Permanente consistently receives the highest possible ratings from the Centers for Medicare and Medicaid Services for their Medicare policies, and they also received 5 out of 5 ratings from the NCQA. 5 Kaiser also excels in customer satisfaction, ranking first in the J.D. Power and Associates survey. 6 With such high ratings, Kaiser was an easy choice for our top pick in the HMOs category.
When you join a Kaiser Permanente HMO, you are required to use one of their 39 Kaiser Foundation Hospitals or 719 medical offices for any healthcare services.
Kaiser Health Plan provides Medicare, Medigap, individual, and family plans. To purchase a policy, you must live in one of the following states: California, Colorado, Georgia, Hawaii, Maryland, Oregon, Virginia, Washington, or the District of Columbia. A policy can be purchased online through Kaiser or the government Marketplace.
Different coverage options are available with Kaiser Permanente's Medicare Advantage HMO plans. Prices and plans differ depending on the state and region. This basic plan costs $24 per month in Alameda, California, and has a $0 deductible and a maximum out-of-pocket limit of $6,700. If you choose a standard $84 monthly plan, your maximum out-of-pocket expense is $4,900.
Kaiser emphasizes preventive care and offers tools and programs to assist people in making informed decisions about their own health. Routine exams, cancer screenings, and cholesterol screenings are among the services provided.
Exclusions from Kaiser coverage include routine vision and foot care, chiropractic care, and any elective procedures.
Anthem, Inc
Oscar is a new health insurance company that provides both individual and business policies. While the company charges higher-than-average prices, it outperforms the competition in terms of customer service and additional member benefits. For example, their telemedicine program provides a dedicated concierge service with 24/7 access to Oscar network health professionals, such as nurses and doctors.
Oscar's main disadvantage is that its individual and small business health insurance policies are only available in 15 states. However, the startup is working on expanding its availability in the near future.
CVS
CVS Health is a healthcare innovation company dedicated to assisting people on their journey to better health. It pioneers a new approach to total health through its health services, plans, and community pharmacists.
CVS has over 9,800 retail locations, nearly 1,100 walk-in medical clinics, a pharmacy benefits manager with approximately 93 million plan members, a diversified healthcare benefits company with approximately 22.2 million medical members, a dedicated senior pharmacy care business with over one million patients per year, expanding specialty pharmacy services, and a standalone Medicare Part D prescribing service.
WellCare
WellCare Health Plans, Inc. primarily provides government-sponsored managed care services to individuals, families, children, and seniors with complex medical needs through Medicaid, Medicare Advantage, and prescription drug plans, as well as individuals in the health insurance marketplace. As of September 30, 2019, WellCare had approximately 6.4 million members nationwide.
HCSC
The largest customer-owned healthcare insurance company in the United States is Health Care Service Corporation (HCSC), a mutual legal reserve company. The company employs over 23,000 people in over 60 local offices and serves more than 16 million members across five states – Illinois, Montana, New Mexico, Oklahoma, and Texas.
Through its affiliates and subsidiaries, HCSC provides a wide range of life and health insurance products and services, including Dearborn Group, Dental Network of America, HCSC Insurance Service Company, Medecision, Availity, Prime Therapeutics, and TriWest Healthcare Alliance.
Conclusion on Health Insurance companies in USA
It is extremely rare to come across a situation in which health insurance is not worth the cost. You never know when you will get sick or injured, and it is far less expensive to pay for health insurance than it is to incur large medical bills. Visits to the doctor, hospital stays, and ambulance rides can cost hundreds of thousands of dollars. It is preferable to pay for health insurance than to be saddled with those bills.
The cost of health insurance plans can vary greatly depending on factors such as your health, geographic region, deductible amount, and co-pay requirements. It is a good idea to compare the plan's total costs and benefits rather than just the premium.
Lower deductible policies generally allow you to pay less upfront, but you will pay a higher monthly premium in exchange. When you need care, you effectively pay more on a monthly basis rather than all at once through a deductible. You may also be required to pay a co-pay, which is a fixed percentage of the balance remaining after you have met your deductible. The costs are split between you and the insurance company.
Health insurance provided by your employer is typically less expensive than purchasing a policy on your own.
When looking for a health insurance policy, it is critical to compare health insurance companies. Companies can differ in a variety of ways aside from premiums, deductibles, and plan network. Some health insurance companies, for example, provide additional benefits such as gym memberships or discounts on health programs if you become a policyholder. These should not be the primary reasons for selecting a company, but they are important factors to consider during the shopping process.
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