Top 5 Health Insurance Companies In USA For 2020
5 Health Insurance Companies In USA For 2020
Currently, more than 100 health insurance companies that offer medical coverage in the United States. But, the top 5 health insurance companies are dominating the industry. These include United Health Care, Kaiser Permanente, Blue Cross Blue Shield, and Aetna.
They’re controlling more than 38% of the market and offer all of the basic health insurance products and services.
Plans include Medicare &Medicaid policies, long term care insurance, dental insurance, and vision benefits. There is a divisive policy for the public and politicians in the Affordable Care Act (ACA).
But, it has been a financial boon for the top five giants of the health insurance payer industry since 2010. Let’s know about the best health insurance companies in USA for 2020.
1. United Health Care
Because of excellent financial strength rating, the United Health Care (UHC) has an “A” rating from A.M.
As the best and a part of UnitedHealth Group, it’s the largest health insurer in the U.S. for essential care, the insurer offers individual insurance that meets the ACA requirements.
Access to online care is the real standout feature for UHC members.
It includes the ability to order prescriptions online, speak with a nurse, and participate in online wellness programs.
With a doctor through a mobile device, its members can also go online 24/7 to find doctors.
Also, they can set up appointments, file claims, and even speak.
Apart from these, it even has a mobile app so you can use these resources on the go.
To manage health care electronically, UHC is a great choice for people who want the option.
Along with access to HSAs and FSAs, it offers HMO and PPO plans.
For hearing aids, member discounts are available.
Also, it offers vision services (including Lasik) and smoking cessation programs.
The company has a very large preferred provider network of over 1.3 million physicians and other health care professionals.
Moreover, this insurer provides Medicare Advantage HMO and PPO plans.
2. Health Care Service Corporation (HCSC)
In the U.S, HCSC is the largest customer-owned health insurer.
After establishing in 1936, it’s serving more than 15 million members in its operating states.
The states include Illinois, Montana, New Mexico, Oklahoma, and Texas.
Throughout its affiliates and subsidiary companies, the HCSC offers a wide variety of Health insurance programs.
However, the insurer’s plans and coverage options vary by state. It has a program named healthy living that comes with some different things.
These include smoking cessation support, weight-loss programs, maternity programs, fitness programs, and a 24/7 nurse hotline.
It offers 24/7 access to the health plan information and online tools with the secure member website.
When it comes to notifications, it sends mobile alerts with email notification.
Also, it includes claims information notification, exercise & fitness tips, prescription drug reminder, diabetes diet tips, and heart-healthy diet management & care tips.
The largest reason to pick the insurer is that the CSC has an “A” (excellent) financial strength rating from A.M.
In addition, it offers the best, plus the greatest health programs for members with 24/7 access online.
When choosing from the best health insurance companies, there are several criteria to keep in mind.
These are including financial strength, customer service ratings, claims service, plan prices, policy offerings, coverage benefits, and provider choices.
3. Kaiser Permanente
In the U.S healthcare industry, Kaiser Permanente is a trusted name. It’s because it offers medical care through its managed care organization and network of Kaiser Foundation hospitals.
As it has excellent financial strength ratings, it has won numerous customer service awards from J.D. Power & Associates.
The working areas of Kaiser are California, Colorado, Georgia, Hawaii, Oregon, and Washington State.
Also, it serves in Maryland, Virginia, and Washington D.C. The best thing about the insurer is that its network includes more than 22,000 participating physicians.
You’ll get access to several plan options if you live in one of Kaiser Permanente’s coverage areas.
For example, you can enjoy bronze, silver, gold, and platinum plans. Except for platinum, all plan types offer the option to add a health savings account (HSA).
Through Kaiser health insurance, the health savings account (HSA) options are available for high-deductible plans.
Since the contributions are tax-free, it can be used to help pay for qualifying expenses.
Expenses include prescriptions, primary/specialty care visits, doctor/hospital visits, X-rays, lab tests, ambulance/emergency care services, physical/occupational therapy and many more.
When you ask why we have chosen Kaiser, the big one is that it was the top performer in 2019.
It was top in the states such as California, Colorado, Maryland, and the Northwest and South Atlantic regions.
The top position was selected by the J.D. Power & Associates Commercial Member Health Plan Study.
4. Blue Cross Blue Shield (BCBS)
The BCBS offers health insurance coverage not just in the United States; it also works in over 190 countries.
Through a BCBS organization, more than 100 million Americans have their health insurance.
In the U.S., there are 36 BCBS independent health insurance companies and most have an A.M.
Also, they have the Best financial strength rating of “A” (excellent). With health maintenance organizations (HMOs), exclusive provider organizations (EPOs), and preferred provider organizations (PPOs), its members have access to plans.
While the HMO plans offer the most comprehensive plans, limit doctor choices to those inside the HMO.
Since the EPO plan uses select provider networks and incorporates policies; they promote and manage member health care.
On the other hand, the PPO plans offer more flexibility with a great number of participating doctors.
Indeed, you are likely to be close to one no matter what part of the country you live in because the BCBS PPO providers are so numerous.
Another good thing about the insurer is that its plans give you access to HSAs and flexible spending accounts (FSAs).
5. Aetna Health Insurance
With an excellent reputation, Aetna is one of the largest health insurers in the U.S.
Like the previous four best health insurers, Aetna also has an A.M. Best “A” (excellent) financial strength rating.
No matter it was acquired by CVS Health in 2018, the company is still providing employer health plans to residents of all 50 U.S. states.
Including preventive care, hospitalization, office visits, and immunizations, the company offers affordable health insurance options.
With availability for high-deductible plans, its members also have access to HSA plans.
As a result, its members will be able to find an Aetna-approved provider no matter the part of the country they reside in.
If you need to see an in-network doctor or any licensed doctor, its network plan options allow members.
But, seeing a network doctor will provide the greatest savings.
Besides, the company offers several types of provider plans such as HMO, POS, PPO, EPO, and HDHP with HSA.
Also, you’ll find numerous wellness programs available to Aetna members including gym memberships, weight-loss programs, and more.
The main reason to include the Aetna in our list is it has received a five-star rating in overall customer satisfaction.
This year, 2019, over 11 million people purchased a health insurance policy through a state marketplace. They’re also known as individual health insurance. If you currently don’t receive health care through an employer, you can purchase these policies.
And this all about the top 5 health insurance companies in USA for 2020. Hopefully, the content will end up your search about the best health insurance companies in the US.