The US health insurance market is dominated by a few major players. Here are 10 of the top companies, based on market share and financial performance:
UnitedHealth Group: The largest health insurer in the US, UnitedHealth Group offers a wide range of plans and services through its subsidiaries, including UnitedHealthcare. It has the biggest market share and writes the most premiums.
Elevance Health: Formerly known as Anthem, Elevance Health is a major provider of Blue Cross Blue Shield plans in 14 states. It’s the second-largest by market share.
CVS Health: CVS Health acquired Aetna in 2018, making it a significant player in the health insurance market. It combines health insurance with pharmacy services and retail clinics.
Cigna: Cigna is a global health service company that offers health insurance plans, pharmacy benefits, and other healthcare services. It has a large market share and a strong financial performance.
Humana: Humana focuses on government-sponsored health programs, such as Medicare Advantage plans. It has a significant presence in the market and is known for its customer service.
Kaiser Permanente: Kaiser Permanente is a unique health insurance provider that operates its own hospitals and clinics. It offers integrated care and has a large membership base.
Health Care Service Corporation (HCSC): HCSC is a mutual company that operates Blue Cross Blue Shield plans in several states. It has a strong regional presence and a large market share.
Molina Healthcare: Molina Healthcare focuses on providing health insurance to low-income individuals and families through government programs. It has a growing market share and a strong commitment to its members.
GuideWell: GuideWell is a mutual holding company that owns Florida Blue and other healthcare-related businesses. It has a strong presence in Florida and offers a variety of health insurance plans.
Independence Health Group: Independence Health Group is a health insurance company that operates in Pennsylvania. It has a large market share in the region and offers a variety of plans.
These are some of the top health insurance companies in the US, but the market is constantly evolving. Other notable companies include Highmark, Blue Cross Blue Shield of Michigan, and Centene. When choosing a health insurance company, it’s important to consider factors such as plan options, network providers, costs, and customer service.