Health insurance companies provide health insurance policies to people who need to acquire affordable health insurance for themselves and their families. If you become ill or injured, health insurance can help you cover up the medical expense.
The best health insurance companies have excellent scores for financial strength, customer service ratings, claims service, plan pricing, policy offers, coverage benefits, and provider options. There is no unique “best” health insurance company, but the one that is ideal for you will depend on the sort of private health insurance you require, and your budget, and the available insurer in your location.
What are the 11 Best Health Insurance Companies?
To find the best plans for you and your family, start by entering your zip code and then additional information on the websites of the providers. You will be guided to plans available in your region that are suited for your situation, after which you may compare local physician, hospital, and pharmacy options. You may also locate the optimal combination of rate, high-deductible plans, and other out-of-pocket expenditures for you. It is also very important to evaluate the company based on the type of plan and type of coverage they offer, company profile, the coverage areas, monthly premiums, and the financial strength rating.
We’ve done some of the research for you to help you choose health insurance alternatives. Before selecting our top eleven, we considered criteria such as policy offerings, type of plan offered, customer satisfaction survey result, network care, coverage denials, types of health insurance, and restrictions on some of the best health insurance alternatives. Continue reading to find about the best health insurance companies.
Best for Nationwide Coverage
Blue Cross Blue Shield
Blue Cross Blue Shield provides health insurance to one out of every three Americans. The 35 independent and regionally owned Blue Cross Blue Shield businesses open doors in all 50 states, Washington, D.C., and Puerto Rico, with names like Anthem, CareFirst, Highmark, Independence, and Wellmark appearing in various states plans. According to the firm, more than 80% of doctors and 90% of hospitals in the United States have contracts with Blue Cross Blue Shield companies, which is more than any other insurer.
More than 40 Blue Cross Blue Shield business plans received moderate to high ratings from NCQA Health insurance in 2019 for quality care and member satisfaction, while 10 Anthem plans—including those with lower overall scores— performed well in customer satisfaction ratings. Blue Cross Blue Shield provides workplace insurance, plans for individual coverage through healthcare.gov, and Medicare plans in several configurations.
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Best Global Coverage
Cigna Health and Life Insurance Company
It’s hardly unexpected that a company selling a product called Global Health Advantage would be at the top of our list for worldwide coverage. The health maintenance organization serves 17 million medical customers globally through global network care of 1.5 million healthcare professionals with access to health care in over 30 countries. It employs almost 70,000 people. Cigna joined up with Express Scripts, the nation’s largest pharmacy benefit manager, in a partnership aimed at cutting costs and enhancing treatment, following in the footsteps of Aetna and CVS Health in 2018.
Cigna Health and Wellness programs provide several medical insurance plan type in 13 states and dental care in all 50 states plus Washington, D.C. Insurance for Individual plans are sold on healthcare.gov in 313 counties across 13 states. Cigna also increased its Medicare Advantage plans in 2020 to encompass 369 counties across 23 states, with coverage expanding to 5 more states in 2021. To cap it all, Cigna offers one of the best health insurance products in the country.
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Best for Medical Costs
Eyeglasses and contacts, as well as dental examinations, crowns, and appliances, are frequently not covered by health insurance coverage. Humana provides health insurance premiums for almost all medical conditions, and the company has a variety of plan types for those living with a chronic condition, including transitions from hospitalization to home care and food delivery. Humana is another company that provides special coverage options for those who have a severe or crippling chronic disease or are in a long-term care facility. Humana no longer sells individual medical insurance as of 2018, instead of focusing on employer-based healthcare solutions and Medicare coverage.
According to statistics from the ACSI study, Humana led the pack in terms of customer satisfaction among health insurers in 2020. Humana’s HMO insurance is reasonably priced.
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Best for Tech Savvy
Do you want to track your health with an Apple Watch; make doctor appointments, and discover online health care services? According to United Healthcare’s 2019 annual study, 37% of customers buy health care on a computer or through mobile apps. The firm promotes “consumer-driven digital health care,” which includes wearable technology for diabetes control, smart baby monitors for high-risk newborns, and activity trackers that enable fitness users to earn cash prizes. With this service, members can set up an appointment with a doctor and file claims online.
United Healthcare services provide a comprehensive range of online health care services, health benefits packages to individuals, companies, and Medicare and Medicaid recipients. It has direct contracts with over 1.3 million physicians and care workers, as well as 6,500 hospitals and other care institutions around the country. HMO and PPO plans are also available, and both include access to health savings accounts (HSAs) and flexible spending accounts (FSAs) (FSAs). Its policies may be a little more expensive than some of its rivals, but the additional benefits may be worth it.
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Best for HMOs
Kaiser Foundation Health Plan
The nonprofit insurer Kaiser Foundation Health Plan Inc, which is part of Kaiser Permanente, received excellent ratings for private insurance, with one plan (Mid-Atlantic States) receiving a top overall NCQA Health Insurance score of 5.0 and seven other plans, ranging from Georgia to California, receiving 4.0 to 4.5 ratings. Kaiser was also a victor in the Medicare Advantage market, with 8 plans in the very top tier. The firm operates in eight states (Virginia, Oregon, California, Hawaii, Colorado, Georgia, Maryland, and Washington) and Washington, D.C.
HMOs are used in Kaiser’s entire highly rated private and Medicare Advantage plans. This is fantastic news for people looking for low-cost health insurance because HMOs offer cheaper premiums, no deductible, reduced copays, and lower prescription medication expenses. The disadvantage of an HMO is that unless in emergency care, you must utilize only doctors, hospitals, and other services that are part of that system. The HMO plans, however, which is the cheapest type of health plan, provide the same fundamental services as a PPO plan. The premiums for Kaiser’s plans are also relatively inexpensive.
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Best for Medicare Advantage
In 2019, 43 Aetna Medicare Advantage plans marketed in 37 states plus the District of Columbia achieved top NCQA Health Insurance ratings (4.0 or above), with Connecticut and Maine standing out. Aetna Medicare Advantage Prescription Drug plans were offered in 264 new counties throughout the US in 2020, giving millions more Medicare beneficiaries access to an Aetna plan. In addition, the company provides Medicare supplement plans (Medigap) in 49 states. In certain areas, they also provide a supplemental Medicare package that includes dental, vision, and hearing.
Aetna is a major supplier of employer-based health insurance in the private sector. Aetna plans rated first in Iowa, Pennsylvania, and Utah in the 2019 NCQA Health Insurance rankings, while Aetna plans ranked second in Ohio, Maryland, and Virginia in the 2021 J.D. Power U.S. Commercial Health Plan Study. Furthermore, Aetna’s attractive member benefits appear to be juicy than that of several competitors.
Best in Budget Health Insurance
Sidecar Health is an exclusive provider organization that debuted in 2018, seeking to remove obstacles to affordable and accessible health care. Sidecar Health is our top budget pick, with cheaper health insurance and up to 40% savings on healthcare expenditures.
You may purchase insurance online by first picking coverage and then adding any optional features like prescription medications. Quotes for policies are accessible on the internet once you enter your location and personal information.
When you use your Sidecar Health payment card, 20% of the medical expenses will be charged to your selected payment method on file. The plan advances the remaining 80% using the Visa payment card. You may also be eligible for extra savings if you make an advance payment. When receiving care, you can also expect to pay anything over the Benefit Amount out of pocket.
Sidecar Health’s disadvantages include its limited availability in 16 states and the fact that, while there are no prohibited conditions, health problems will influence rates; Many people might benefit from Sidecar Health, but keep in mind that the plans are not ACA-compliant. Other insurers with AM Best ratings of A (Excellent) for financial soundness underwrite the plans.
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Best for Families
Financing family health insurance can be difficult, particularly if you have a big family. Oscar, thankfully, offers family-friendly choices including child wellness benefits, limited family high-deductible plans, and easy access to doctors, making them our top selection for families.
With the Oscar app, you may connect with a care team of guides and nurses who can assist you in finding inexpensive and emergency services health care near you. The app will also provide you access to your health records and finances.
Oscar provides family advantages such as free well-baby and kid examinations. There’s also the pretty unusual daily step benefit. The Oscar app counts your steps, and you may earn up to $100 each year for completing your step objectives.
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Other Notable Health Insurance Companies
Centene Corporation established itself as a nonprofit Medical plan in 1984. It now advertises itself as the most preferred provider organization and the largest Health Insurance Company in the country. It also provides health coverage to people who do not qualify for Medicaid. Centene has several subsidiaries, including the HealthCare Enterprise group and the Envolve family of enterprises. The firm, headquartered in St. Louis, also covers over 25 million people across all 50 states.
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Capital District Physicians’ Health plan
This physician-directed health plan offers some of the best plans in the industry. Two plans received a 5.0 overall score from NCQA Health Insurance and were among the six private plans in the country to receive a 5.0 in customer satisfaction. A third CDPHP plan received a near-perfect rating of 4.5, while the company’s Medicare Advantage plan also received a good rating. The plans are offered in 29 of the 62 counties in New York. According to the firm, eight of its fifteen board members are physicians.
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This firm provides Medicare plans in Minnesota, Wisconsin, North Dakota, South Dakota, Iowa, and Illinois under the names Group Health Plan, Inc and HealthPartners Insurance Company. NCQA Health Insurance awarded 4.5 overall ratings to all three of its private proposals.
Diabetes patients may be interested in this plan because one of HealthPartners’ commitments to customers is to supply monthly insulin refills for no more than $25.
Depending on where you reside and your unique coverage needs, the business provides three distinct plans in Minnesota and two separate options in Wisconsin. Those who live in Minnesota’s HealthPartners Insurance region have the most choices.
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Choosing the best health insurer is not a choice to be taken lightly. Take the time to do your homework so that you can select an insurer and a plan that will not let you down. Because of the medical benefits, customer reviews, financial strength rating, strong customer service of Blue Cross Blue Shield, and how it spreads across the country with numerous plan types; that is why we choose.