In comparing the best health insurance companies, you’re going to find there to be several standards which dictate which one could be the right type of company for you. While you can go by the numbers to determine which the largest insurance company is, figuring out which one is really right for you is quite a bit harder and takes more work on your part. But first, you want to get a good idea of what the top providers are throughout the country, so that you’re aware of the big name players.
Most typically it’s good to look to the top 10 health insurance companies when you’re after insurance, because it means they usually have the best systems implemented for providing you the customer, with the care that you need. With a bigger company, you can be sure they have more people employed to provide customer service so that you can be sure when you have a problem with your insurance, it’s resolved as quickly as humanly possible. Here are the top 10 health insurance companies nationwide, as well as their premium earnings and market share:
1) UnitedHealth Group
The undisputed top dog with a massive amount of the insurance market cornered at around 13% of all insurance is through UnitedHealth Group. Plus they also rein supreme in terms of premium earnings, with $80billion paid annually to the company.
2) Wellpoint INC
Playing second fiddle to UnitedHealth Group, here you will find that they have a respectable 8% of the market cornered, with a $56.3 billion earnings figure.
3) Kaiser Foundation Group
Rolling in at third right behind WellPoint with a 7.5% share of the market, and near $48billion in earnings from premiums.
4) Aetna Group
Coming in with around 4% of the market for everyone that has insurance in the entire country, as well as between $25 and $30billion in annual earnings from insurance premiums.
5) Humana Group
You’ll find that Humana has relatively similar stats to Aetna, in which they also share around 4% of the market with earnings from premiums that fall into the $25billion and up bracket.
6) Health Care Service Corporation
Just about halving what Aetna and Humana earn, here you’re going to find that they are closer to the 2% marker as well as falling under $20billion in terms of premiums earnings.
7) American Family Corp Group
Featuring stats pretty similar to HCSC in that they also have roundabout 2% of the market share, and earn just under the $20billion range.
Coventry Corp
Also featuring around 2% of the market share, and with more modest earnings in the $13billion region.
9) Highmark Group
Featuring just under 2% of the insurance market, they also have more modest earnings of around $12billion.
10) Independence Blue Cross Group
Rounding out the top 10, they have well under 2% of the market, and fall into the $10billion or slightly above bracket for the earnings from their premiums.
But remember, that just because a company ranks in a certain place on the top 10 health insurance companies list, you can’t trust that they provide great care as a result. This is due to a variety of factors, but basically it’s based upon where you live. The main reason that no major company has a massive amount of the market cornered, is because there is too much territory out there. Not all of these options are available to everyone, and you’ll find that your choices can be somewhat limited depending upon where you live. That’s why it’s important that you look deeper into which company is going to be the best choice for you in the end. It’s not enough to choose the popular company, and ensure you’ve found the right fit.
Instead you want to look a bit deeper, and you want to go with who has the largest provider network where you live. This means that more hospitals will be covered, giving you plenty of options on where to get your care. But you’ll also find that most of the top health insurance providers will also have ratings of customer service, as well as how quickly they actually pay claims. You want to be sure that you find the type of provider that’s guaranteed to satisfy you in terms of getting claims paid and taken care of, as well as the standard of service that you expect.