People ask, Which are the best health insurance companies in the United States? And most of them want to know about individual health insurance companies.
Basically, It’s hard to present which are the best! But when a provider offers to choose health plans then one can understand the options and fatalities, after that you can follow the customer review then you may select a health insurance company. But today we are not going to talk about that!
Here we only talk about the top medical insurance companies in USA and their details;
Right now we’ve done some analysis for you by researching on individual health insurance companies and found which health insurance companies in America are at the top position. In this case, we have noticed these issues; Present status, current income, member of health insurance, employs, customer satisfaction, highest revenue, and locations.
Move forward step by step;
What Is Health Insurance?
Health insurance is a type of insurance coverage that usually pays for medical, surgical, prescription drugs, and sometimes dental expenses incurred by the insured.
Health insurance can reimburse the insured for expenses incurred from illness or injury, or pay the care provider directly.
This is often included in the employer benefit package as a way to persuade standard employees, premiums are partially covered by the employer but are often also deducted from employee salaries.
The price of health insurance premium is deductible for the payer, and the benefits received are tax-free, with few exceptions for corporation employees.
The right health insurance plan can go a long way toward helping you cover your costs and reducing the chance that a serious illness or injury will result in financial devastation.
By comparing plans from the best health insurance companies, it’s possible to find coverage designed to work best for you — and fit your budget.
What health insurance companies offer?
There are several criteria to keep in mind when choosing from the best health insurance companies including financial strength, customer service ratings, claims service, plan prices, policy offerings, coverage benefits, and provider choices.
From here we’ve compiled a list of the best health insurance companies in below.
What are the best health insurance companies in USA?
The biggest health insurance companies in the United States are well-known insurance providers. Many of these companies offer similar products, but some tend to specialize in additional products such as Medicaid and Medicare. Below, we describe the list of largest health insurers by revenue, market share, and state marketplace:
List of Health insurance company rankings by revenue
Including membership and the size of a health insurance company, we have made a list where you can see the amount of revenue these companies will generate.
Based on our analysis, CVS Health was the largest health insurance company, with a total revenue of over $268.70 and UnitedHealthcare Group is the second-largest health insurance company with total revenue of over $257.1 billion during 2020.
Interestingly, although CVS Health is the second-largest health care company by membership, it was only the 1st largest by revenue.
Here are the top healthcare insurance companies in USA by revenue:
|Rank||Company||Revenue (Billion USD)|
|9||Blue Shield of California||$21.8|
Here are the top health insurance companies in United States. They are listed by size of market share, in descending order.
- CVS Health
- Anthem Inc.
- Centene Corp
- Cigna Health
- Blue Cross Blue Shield
- Health Care Service Corporation (HCSC)
- Kaiser Foundation
- Molina Healthcare Inc.
- Guidewell Mut Holding
- California Physicians Service
- Independence Health Group Inc.
- Highmark Group
- of Michigan
- Carefirst Inc.
- Health Net of California, Inc.
- UPMC Health System
Largest medical insurance companies in USA by state
People ask, what are the health insurance companies near me? That’s why we have included this list. A report says, In 2020, nearly 11.5 million people purchased a health insurance policy through a local state marketplace.
Below is the list of biggest health insurance provider in each state:
|Alabama||Blue Cross Blue Shield of Alabama|
|Alaska||Premera Blue Cross|
|Arkansas||Arkansas Blue Cross Blue Shield|
|California||Blue Cross Blue Shield California|
|District of Columbia||Carefirst Inc.|
|Florida||Guidewell Mutual Health|
|Hawaii||Hawaii Medical Service|
|New York||Oscar Health|
|Idaho||Blue Cross of Idaho|
|Illinois||Health Care Service Corp.|
|Kansas||Blue Cross Blue Shield of Kansas|
|Louisiana||Louisiana Medical Service & Indemnity|
|Maine||Maine Community Health Options|
|Michigan||Blue Cross Blue Shield of Michigan|
|Montana||Montana Health Cooperative|
|New Jersey||Blue Cross Blue Shield of New Jersey|
|New Mexico||Molina Health Care|
|New York||Oscar Health|
|North Carolina||Blue Cross Blue Shield of North Carolina|
|North Dakota||Noridian Mutual Insurance|
|Ohio||Medical Mutual of Ohio|
|Oklahoma||Health Care Service Corp.|
|Pennsylvania||Independence Blue Cross|
|Rhode Island||Neighborhood Health Plan of Rhode Island|
|South Carolina||Blue Cross Blue Shield of South Carolina|
|Tennessee||Blue Cross Blue Shield of Tennessee|
|Texas||Health Care Service Corp.|
|Vermont||Blue Cross Blue Shield of Vermont|
|Wisconsin||Common Ground Healthcare|
|Wyoming||Blue Cross Blue Shield of Wyoming|
Check out the list of 50 States of the United States and it’s details.
Top 10 Health Insurance Company in USA
The health insurance industry is dominated by ten companies. All of these health insurance providers offer basic health insurance products to individuals and organizations with Medicaid and Medicare policies, dental insurance, vision benefits, and other services associated with long-term care insurance.
In order, the top 10 health insurance companies in united states are CVS Helth, UnitedHealthcare, Cigna Health, Anthem Inc., Centene Corp, KFF – Kaiser Foundation, Humana, Aetna, Blue Cross Blue Shield Association, WellCare, and others.
1. CVS Health
Headquarters: 1 CVS Drive, Woonsocket, Rhode Island, U.S.
Founders: Stanley Goldstein, Sidney Goldstein, Ralph Hoagland, Dipak Dave
Revenue: US$268.70 billion (2020)
CVS Health is an American healthcare company that owns CVS Pharmacy, it is a retail pharmacy chain; CVS Caremark, a pharmacy benefits manager; Aetna, a health insurance provider, among many other brands. The company’s headquarters is in Woonsocket, Rhode Island.
CVS has more than 9,800 retail locations, nearly 1,100 walk-in medical clinics.
Headquarters: Minnetonka, MN
Founder: Richard T Burke
Employs: 330,000 (2020)
Revenue: 257.1 billion USD (2020)
UnitedHealth is an American multinational managed healthcare and insurance company. It offers health care products and insurance services. In 2020, it was the second-largest healthcare company (behind CVS Health) by revenue with $257.1 billion, and the largest insurance company by net premiums. UnitedHealthcare revenues comprise 80% of the Group’s overall revenue.
Also, The company is ranked 7th on the 2020 Fortune 500. UnitedHealth Group serves clients and consumers in the US and more than 130 other countries.
3. Cigna Health
Headquarters: Bloomfield, CT
Founder: Merger of CG and INA
Employs: 73,700 (2020)
Revenue: US$160.401 billion (2020)
Cigna is an American multinational managed healthcare and insurance company. Its insurance subsidiaries are major providers of medical, dental, disability, life and accident insurance, and related products and services, the majority of which are offered through employers and other groups.
Cigna Corporation is a global health service organization with more than 165 million customer and patient relationships in over 30 countries and jurisdictions.
4. Anthem Inc.
Headquarters: Indianapolis, IN
Employs: 70,600 (2020)
Revenue: 121.9 billion USD (2020)
Anthem Inc. is another top health insurance company in USA. It is the largest for-profit managed health care company in the Blue Cross Blue Shield Association. As of 2018, the company had approximately 40 million members. Anthem is ranked 29th on the Fortune 500. Prior to 2014, it was named WellPoint Inc.
5. Centene Corp
Headquarters: St. Louis, MO
Founder: Elizabeth “Betty” Brinn
Employs: 71,300 (December 2020)
Revenue: US$111.115 billion (2020)
Centene Corporation is a large publicly traded company and a multi-line managed care enterprise that serves as a major intermediary for both government-sponsored and privately insured health care programs.
It is a healthcare insurer that focuses on managed care for uninsured, underinsured, and low-income individuals. Centene is the second-largest publicly traded corporation. It ranked No. 42 in the 2020 Fortune 500 list of the largest United States corporations by total revenue.
6. KFF – Kaiser Foundation
Headquarters: Oakland, CA
Founders: Henry J. Kaiser, Sidney Garfield
Employs: 304,874 employees
Revenue: $88.7 billion USD (2020)
Kaiser Foundation also known as the KFF or The Henry J. Kaiser Family Foundation. It is an American non-profit organization. KFF focuses on major health care issues facing the nation, as well as the U.S. role in global health policy. The organization offers allergy, audiology, cardiology, dermatology, oncology, hospice, laboratory, nephrology, occupational therapy, pain management, pediatric rehabilitation, and pharmacy services.
Headquarters: Louisville, KY
Founded: August 18, 1961
Founders: Wendell Cherry, David A. Jones, Sr.
Employs: 48,700 (December 2020)
Revenue: 77.16 billion USD (2020)
Humana Inc. is a for-profit American health insurance company. In 2020, the company ranked 52 on the Fortune 500 list, which made it the highest ranked company based in Kentucky.
Humana’s cultural foundation is aligned to helping members achieve their best health by providing personalized, simplified, whole-person healthcare experiences.
Headquarter: Hartford, Connecticut, U.S.
Founded: May 28, 1853
Founder: Eliphalet Adams Bulkeley
Revenue: $60.6 billion (2018)
Aetna Inc. is an American managed health care company that sells traditional and consumer directed health care insurance and related services, such as medical, pharmaceutical, dental, behavioral health, long-term care, and disability plans, primarily through employer-paid (fully or partly) insurance and benefit programs, and through Medicare. Since November 28, 2018, the company has been a subsidiary of CVS Health.
9. Blue Shield of California
Headquarters: 601 12th Street, Oakland, California
Founded: 1939 (incorporated)
Founder: California Medical Association
Employs: 7,500 (2021)
Revenue: $21.8 billion USD (2020)
Blue Shield of California is a non-profit mutual benefit corporation and health plan founded in 1939 by the California Medical Association. It is based in Oakland, California, and serves 4.5 million health plan members and more than 65,000 physicians across the state.
Headquarters: Tampa, FL
Founder: Edward Ullman
Employs: 14,000 (October 2019)
Revenue: US$17.007 billion (2017)
WellCare Health Plans Inc. is an American health insurance company that provides managed care services primarily through Medicaid, Medicare Advantage, and Medicare Prescription Drug plans for more than 6.3 million members across the country.
The company partners with more than 607,000 contracted providers and employs more than 14,000 associates.
11. Molina Healthcare Inc.
Headquarters: Long Beach, CA
Founder: C. David Molina
Revenue: 16.3 billion USD (2016)
Molina Healthcare is health insurance and managed care company headquartered in Long Beach, California, United States. The company provides health insurance to individuals through government programs such as Medicaid and Medicare.
Headquarters: Chicago, IL
Revenue: $36.9 billion
HCSC or Health Care Service Corporation is the largest customer-owned health insurance company in the United States. HCSC was formerly known as Hospital Service Corporation and changed its name to Health Care Service Corporation in 1975.
The company serves more than 16 million members across five states – Illinois, Montana, New Mexico, Oklahoma, and Texas – and employs more than 23,000 people in over 60 local offices.
HCSC offers a wide variety of life and health insurance products and related services through its affiliates and subsidiaries, including Dearborn Group, Dental Network of America, HCSC Insurance Service Company, Medecision, Availity, Prime Therapeutics, and TriWest Healthcare Alliance.
Top 5 largest health insurance companies by membership
The largest health insurance provider can be defined as the company that has the highest number of members. Here are the 5 biggest health insurance companies list by member:
|Name of insurance companies||Members|
Who are the top 5 health insurance companies?
In the United States, there are currently more than 900 health insurance companies that offer medical coverage. But here we talk about only the top 5 health companies.
The health insurance industry is dominated by these five companies: CVS Health, UnitedHealthcare, Anthem, Centene, and Cigna Health who control nearly 45% of the market.
All of these providers 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.
The 5 top health insurance companies for 2021 are:
- CVS Health/Pharmacy
- Cigna Health
List of Health Insurance Companies in the United States
Here are the list of health insurance companies in alphabetical order. These all are US based companies with a strong national or regional presence having insurance as their primary business.
The United States Health insurance company list:
- American Family Insurance
- American National Insurance Company
- Blue Cross and Blue Shield Association
- Cambia Health Solutions
- Centene Corporation
- Coventry Health Care
- Delta Dental
- Golden Rule Insurance Company
- Group Health Cooperative
- Group Health Incorporated
- Harvard Pilgrim Health Care
- Health Net
- Horace Mann Educators Corporation
- Independence Blue Cross
- Kaiser Permanente
- Kaleida Health
- Liberty Medical
- LifeWise Health Plan of Oregon
- Medical Mutual of Ohio
- MEGA Life and Health Insurance
- Molina Healthcare
- Oscar Health
- Oxford Health Plans
- Premera Blue Cross
- Principal Financial Group
- Shelter Insurance
- State Farm
- Thrivent Financial for Lutherans
- UnitedHealth Group
- Universal American Corporation
- US Health Group
- Vantage Health Plan
We hope the article has provided the information you need, if you think something could be added here, you can let us know!