Health insurance takes care of unexpected medical expenses that the patient has to bear. With increasing importance given to patient-centered care models and quality health services, efforts are being made to make health insurance costs affordable for all. While the previous administration had an initiative in the form of Obamacare, which covered a large portion of the uninsured population in the US. Thus making healthcare affordable and efficient.
There are both private and public insurance companies that promise the best insurance and health plans. However, few of them are doing commendable work in this field by bringing the best program to the patients.
Here is a list highlighting the top 10 healthcare insurance companies in the US.
1. UnitedHealth Group
American for-profit managed healthcare company
Founded: 1977
Founder: Richard T. Burke
Membership: 49.5 million
Revenue: $201.1 billion (as of 2017)
Net Income: $10.82 billion (as of 2017)
Products Offered: Health Care Services, Uniprise, Ingenix, and Specialized Care Services2. Anthem
2. Anthem
Largest American for-profit managed healthcare company in the Blue Cross and Blue Shield Association
Founded: 2014
Founder: Merger of Anthem Insurance Company and WellPoint Health Networks
Membership: 2 million
Revenue: $90 billion (as of 2017)
Net Income: $3.84 billion (as of 2017)
Products Offered: Blue Cross and Blue Shield
3. Kaiser Permanente
An American integrated managed care consortium
Founded: 1945
Founder: Henry J. Kaiser and Sidney R. Garfield
Membership: 7 million (as of 2017)
Revenue: $72.7 billion (as of 2017)
Net Income: $3.8 billion (as of 2017)
Products Offered: Health insurance and medical care
4. Aetna
Provider of consumer-directed and traditional health care insurance and related services.
Founded: 1853
Founder: Eliphalet Adams Bulkeley
Membership: 2 million
Revenue: $60.6 billion (as of 2017)
Net Income: $1.9 billion (as of 2017)
Products Offered: Health insurance, vision, dental and other health plans
5. Cigna
An American worldwide health services company
Founded: 1792
Founder: Merger of the Connecticut General Life Insurance Company (CG) and INA Corporation
Membership: 9 million
Revenue: $41.6 billion (as of 2017)
Net Income: $2.2 billion (as of 2017)
Products Offered: Health, Disability, Group, and Accident Insurance, and Disability and Workers’ Life Compensation Case Management
6. Humana
A for-profit American managed care health insurance organization
Founded: 1961
Founder: Wendell Cherry, David A. Jones, Sr.
Membership: 14 million
Revenue: $53.7 billion (as of 2017)
Products Offered: Health insurance
7. Centene Corporation
A large publicly-traded and a multi-line managed care organization
Founded: 1984
Founder: Elizabeth “Betty” Brinn
Membership: 2million
Revenue: $60.11 billion (as of 2018)
Net Income: $900 million (as of 2018)
Products Offered: State and National health solutions, enterprise solutions and international solutions
8. Molina Healthcare
A provider of health insurance through the government’s health programs like Medicaid and Medicare.
Founded: 1980
Founder: David Molin
Membership: 4million
Revenue: $19.8 billion (as of 2017)
Net Income: $-512 million (as of 2017)
Products Offered: Health plans
9. Health Care Service Corporation (HCSC)
A non-profit parent company of the Blue Cross Blue Shield health plans
Founded: 1936
Founder: Member-owned health insurance company
Membership: 15million
Net Income: $4.1 billion (as of 2018)
Products Offered: Health plans, dental solutions, and group, life, and disability insurance
10. WellCare Health Plans
A Florida based managed health care insurance company
Founded: 1985
Founder: David Molin
Membership: 4million
Revenue: $17 billion (as of 2017)
Net Income: $374 million (as of 2017)
Products Offered: Coverage through Medicare, Medicaid, and Medicare Prescription Drug health plans.
Conclusion:
Healthcare costs in the US are beyond the budget of the general population. Getting sick can be a costly affair for many without the right health insurance plans to support your health expenses. In the US, a routine visit to the doctor can cost $100, and a three-day hospital stay can cost a thousand dollars or more. Hence, various government and private insurance companies are coming up with affordable health plans to prevent medical bills from turning into a nightmare.
However, health plans and healthcare insurance providers are not the same thing. A good insurance provider may not have the best insurance plan for you and vice versa. So, before choosing the right insurance for you, check the health plan and its features, coverage and premium properly before taking the final call. The above list will help you get a detailed understanding of the market to know which provider ranks in the top ten list of the best in the US healthcare industry.
