Health Insurance Companies of 2023

Health Insurance Companies: UnitedHealth Group, Anthem, Centene, Humana, and Health Care Service Corp. are the leading health insurers in terms of market share (HCSC). These corporations collectively control roughly 46% of the health insurance market.

All of these companies provide basic health insurance products to people and businesses, as well as other services such as Medicaid and Medicare policies, long-term care insurance, dental insurance, and vision benefits.

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Largest health insurance companies

Each of the main healthcare providers has millions of policyholders. Membership, also known as covered lives, refers to the number of people enrolled in a health insurance plan with that provider. There are numerous ways to enroll in a health insurance policy. Your employer’s benefit plan, for example, may include health insurance coverage or a variety of other benefits.

Anthem

With over 45 million members, Anthem is the second-largest medical insurance provider by overall membership. The Commercial & Business healthcare section of the corporation provides network-based care to large and small enterprises, individuals, as well as Medicaid and Medicare markets.

California, Colorado, Connecticut, Georgia, Indiana, Kentucky, Maine, Missouri, Nevada, New Hampshire, New York, Ohio, Virginia, and Wisconsin are the only states where the company now sells plans.

Anthem is a subsidiary of the Blue Cross Blue Shield Association, which serves all 50 states. Certain policyholders may benefit from this relationship, such as nationwide access to medical treatment through the Blue Card program. The Blue Cross Blue Shield provider network is the largest in the country, with around 90% of doctors and hospitals participating.

UnitedHealth Group

UnitedHealthcare, a subsidiary of UnitedHealth Group, is the largest health insurance provider in terms of the total membership. UnitedHealthcare provides a wide range of products, from individual health insurance to full-service employer benefit programs for some of the world’s largest organizations. Additionally, its policies are available in all 50 states, and it is offering individual and family plans on health insurance exchanges in 22 states for 2023. UnitedHealthcare is based in Minnetonka, Minnesota.

UnitedHealthcare, in addition to having the most members, also boasts a network of over 1.3 million physicians and healthcare professionals, as well as over 6,500 hospitals. This implies that if you have UnitedHealthcare, you will have numerous options for medical treatment.

Aetna

Aetna was purchased by CVS Health Corp. in 2018, and the company now delivers low-cost insurance plans across a wide range of coverage types, including individual health insurance, dental plans, Medicare Advantage, Medicare Part D, Medicaid, and group plans.

Aetna, founded in 1853, is the third-largest supplier of health insurance and services by membership, with a substantial portion of its membership coming from group health insurance plans offered by businesses to their employees.

For 2022, Aetna sold a small number of plans on the ACA marketplace, and for 2023, it expanded to sell individual and family plans in 12 states.

Cigna

Cigna is the United State’s fourth-largest significant medical insurance provider. Cigna, headquartered in Bloomfield, Connecticut, provides health insurance and health services to businesses worldwide. Cigna provides dental, behavioral health, vision, supplementary health, and Medicare/Medicaid coverage in addition to corporate health insurance policies and plan management.

Individual health insurance is currently available in the following states: Arizona, Colorado, Florida, Georgia, Illinois, Indiana, Kansas, Mississippi, Missouri, North Carolina, Pennsylvania, South Carolina, Tennessee, Texas, Utah, and Virginia. Cigna now offers Medicare Advantage plans in more than half of the country, thanks to recent expansions.

Humana

Humana is the fifth-largest health insurance provider in terms of membership. The company was established in 1961 and first sold long-term care insurance before expanding into the sale of health insurance plans. Since January 2018, Humana has not offered new individual ACA health insurance.

Humana policyholders instead have employer health insurance plans, secondary dental and vision insurance, and Medicare plans that include Medicare Advantage, supplemental, and prescription coverage.

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