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  • Writer's pictureAhsan Malyk

How Many Healthcare Insurance Companies in the US?

An individual purchases health insurance by entering into a contract with an insurer. Hence, the insurer will cover a portion or all of the person's medical expenditures in return for a monthly fee.

In the event that you find yourself in a precarious situation, this will protect you from becoming bankrupt. Some people get health insurance because they are aware that they have ongoing health care issues that need care.

However other people get health insurance because they are afraid of something that could happen that they can't plan for. Both of these reasons are valid reasons to get health insurance.­­

If you do not have health insurance, you put yourself in danger of not being able to get medical treatment. Moreover, you might also experience a significant strain on your own finances. Those who do not have health insurance or who have inadequate coverage have a tendency to avoid seeking medical attention

Hence, it may put their health in jeopardy.

Protection Provided by Health Insurance

To be in compliance with the Affordable Care Act (ACA), health insurance plans must include coverage for the following:

● Outpatient care

● The emergency service providers

● Treatment at a hospital, which may include operations and/or overnight stays

● Care for the mother, the infant, and pregnant women both before and after delivery

● Care for mental illnesses and treatment for drug abuse disorders

● Prescription drugs

● Providing those who are disabled, injured, or suffering from a chronic condition with rehabilitative and habilitative services and equipment

● Services related to laboratories

● Services geared toward preventing illness and promoting well-being, include testing for cervical cancer and HIV as well as counseling.

● Services for children, including eye and dental care, among others

What a plan covers beyond these fundamental advantages will differ. Hence, it is crucial to study the policy's terms and conditions in its entirety.

How to Make the Right Decision When Choosing Your Health Insurance?

You should ask yourself the following questions in order to make sure that you are selecting the health insurance plan that is best for you:

Total Cost

Consider both your deductible and the potential charges that you will be responsible for paying out of pocket. They should be in addition to the monthly premium that you pay to your insurance provider.

Some people would want to have premiums as low as possible and are happy with a larger deductible. However, some people would like to have premiums as cheap as possible and are fine with a higher copayment. So, it depends on personal preference!

Are your preferred medical professionals "part of a network"?

Every insurance company collaborates with a predetermined group or network of medical professionals. Before you sign up for a plan, check to see whether the medical professionals you want to visit are part of the network that the plan offers.

Type of the Insurance Plan

In most cases, if you enroll in a Health Maintenance Organization (HMO) plan, you will not get coverage for treatment from providers who are not part of your HMO's network, unless the situation constitutes an emergency.

You will be needed to get a recommendation from your primary care physician in order to visit a specialist if you go with a Point of Service (POS) plan instead of an HMO or PPO plan. Your out-of-pocket expenses will be influenced by the kind of plan that you choose.

Top 5 Health Insurance Companies in the USA


The biggest health insurance provider in terms of the number of total members is United Healthcare. It is a subsidiary of UnitedHealth Group. United Healthcare provides a wide range of services and products, including individual health insurance as well as an entire employer benefit.

In addition, its insurance products are available for purchase in all fifty states. The headquarters of United Healthcare may be found in Minnetonka, Minnesota.


Anthem has more than 45 million members, making it the second-largest health insurance company in terms of the overall number of members. The Commercial & Business healthcare section of the corporation provides network-based medical services to people, as well as big and small enterprises, as well as the Medicaid and Medicare markets.


CVS Health Corporation completed the acquisition of Aetna in 2018. CVS Health is the current operator of the business and has been successful in integrating its provider networks with Aetna's membership base in a smooth manner.

Aetna was established in 1853, and now it is the third-largest health insurance and services provider in terms of membership.


It is the leading health insurance provider with the fourth-largest market share in the United States. Cigna, which has its headquarters in Bloomfield, Connecticut, is a company that provides health insurance and other health-related services to businesses all around the globe.

It provides benefits for dental care, behavioral health, eye care, supplementary health insurance, Medicare and Medicaid, and corporate health insurance policies and administration of such plans. In addition, Cigna offers benefits for Medicare and Medicaid.


Humana is the fifth-largest health insurance provider. The company began operations in 1961 and initially specialized in the sale of long-term care insurance before later extending its offerings to include health insurance.

Since January 2018, Humana has not been offering new individual health insurance coverage under the ACA. However, the company will continue to respect all of its current ACA policies.

The Medicare market is now Humana's primary emphasis, and residents of every state may choose either a Medicare Advantage plan or a supplementary plan, or both, from the company's offerings.

Take Away

When looking for health insurance coverage, it is essential to browse about and compare different health insurance firms. Companies may have a range of distinctions from one another, as long as the premiums, deductibles, and plan networks are the same.

For instance, if you become a policyholder with a certain health insurance provider, you may be eligible for additional advantages, such as discounted gym memberships or other health-related services.

Although they should not be your primary consideration when selecting a business, they are essential factors to take into account when doing comparison shopping.

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