Do you want to know the top 5 health insurance companies in the USA by Market Share? We are dedicated to giving you the best information. Read this post to the end to get the full information.
Top 5 Health Insurance Companies in USA by Market Share.
According to the American Medical Association’s annual health insurer competition report, the list of the top 5 insurance companies in the United States of America has been stable for the past 6 years. It only experienced some slight shifts in the year 2020.
Market share is a very good way to rank insurance companies. It accurately demonstrates the impact a particular company has had on the lives of consumers.
There are more than 2.8 million people employed by over 6,000 insurance companies in the United States of America. The global pandemic that started in the year 2020 affected most of the insurance companies in the United States. The industry was forced to adapt to various changes, including digitalization.
Taking advantage of such changes, their workforce is able to handle more customers in the United States of America, and their offerings have increased. Incorporating other offerings in the last year and a half, the importance of insurance companies has been magnified to the masses, and some outstanding insurance companies are trying their best to put customers first with traditional offerings like financial advice, customer service, and benefits.
The Best Insurance Companies in the United States of America
In the list of the health insurance companies in the USA, these 5 stand as the top and most picked by customers in the United States of America.
United Health Group
In the year 2020, United Health Group had the biggest market share in the country, although its share had greatly reduced compared to the way it was in the year 2014. In 2020, it will have 5 percent of the market share, whereas six years before that, the UnitedHealth Group had 16 percent of the market share. In the first quarter of 2021, it had nearly 49.5 million customers on all of its health insurance products.
UnitedHealthcare entered back into the Affordable Care Act marketplace, compared to other national insurers. This insurance company joined urban exchanges in Oklahoma, North Carolina, Maryland, the District of Columbia, and Washington, setting high premiums for its marketplace plans.
After United Healthcare, Anthem is the next we could see its market share. Its market share has decreased slightly from 13% in 2014 to 12% in 2020. Market share has decreased from 13% in 2014 to 12% in 2020.
This group serves about 44 million people who are enrolled in its medical health plans as of the second quarter of 2021.
Although it may be ranked lower in the national market share, Anthem still stays on top of UnitedHealth Group in the state and metropolitan statistical areas.
This group sets the bar with the largest statistical area market share of any insurer. It holds the largest market share in 80 metropolitan statistical areas when compared to UnitedHealth Group’s having 22 metropolitan statistical areas.
Aetna maintained an 11 percent market share from 2014 to 2020.
This group is still serving about 39 million members who receive medical, pharmaceutical, or dental coverage with its health plans.
At the national level, Aetna has the fifth-highest market share, having a market share of six percent in the year 2014 and the third-highest market share at nine percent in 2015.
From 2014 to 2020, Cigna saw an increase in its market share, going from eight percent to ten percent.
According to a Value Penguin and Lending Tree report, in August 2021, Cigna’s enrolment was summed up to about 20.4 million members.
This health insurer did not enter the list of the top ten largest health insurers in the Affordable Care Act marketplace until the year 2020, according to AMA’s data. That same year, it climbed to tenth place with a two-percent market share. It has now expanded across multiple markets.
This insurance company is ranked from sixth place to fifth place in national-level market share rankings from the years 2014 to 2020. Its market share is expected to rise from 5% in 2014 to 7% by 2020.
This company performed well in 2020 in the exchanges when compared to 2014 or 2015. It will have the third-largest market share in 2020, accounting for 8% of the exchange market. In 2014 and 2015, its place in the marketplace according to market share has been dangling from one position to another, until now it has maintained 5th place.
List of Health Insurance companies in Florida
Florida is a place that is occupied by different health insurance companies of different categories. Some of the health insurance companies in Florida are as follows:
Individual and family health insurance companies in Florida
- Ambetter from Sunshine Health
- Bright Health
- HS – AVMED
- HS – Aetna CVS Health
- HS – Ambetter from Sunshine Health
- HS – Bright HealthCare
- HS – Capital Health Plan
- HS – Cigna Healthcare
- HS – Florida Blue (BlueCross BlueShield FL)
- HS – Florida Blue HMO (a BlueCross BlueShield FL company)
- HS – Florida Health Care Plans
- HS – Health First Commercial Plans, Inc.
- HS – Molina Healthcare
- HS – Oscar Insurance Company of Florida
- HS – UnitedHealthcare
Dental Insurance Carriers in Florida
- Americas Life Insurance Corp
- Delta Dental Insurance
- Delta Dental Insurance Company
- GMG – Family Life Insurance Company
- Golden Rule Insurance Company
- Guardian Life Insurance Company
- HS – BEST Life
- HS – EMI Health
- HS – Florida Combined Life
- Independence American Insurance Company
- Sure Bridge
Short-Term Insurance Providers in Florida
- Companion Life Insurance Company,
- Everest Reinsurance Company
- Golden Rule Insurance Company,
- Independence American Insurance Company
- National General Accident & Health
List of health insurance companies in Massachusetts
There are so many health insurances options for the residents of Massachusetts. Some of these are affordable, and others are available for free. The list below contains some of the prominent health insurance companies in Massachusetts.
Individual and family health insurance companies in Massachusetts
- BMC Healthnet Plan
- Neighbourhood Health Plan of MA
- Tufts Health Plan
Dental Insurance Carriers in Massachusetts
- Delta Dental of MA
Frequently Asked Questions
How many health insurance companies are there in the United States?
According to the NIAC (Non-profit Insurance Alliance of California), the number of health insurance companies in the United States is about 1,096.
What is the most widely accepted health insurance in the US?
The most widely accepted health insurance provider in the United States is Blue Cross Blue Shield (BCBS). This insurance provider is found across all 50 states in the US.
They are known to have been serving people in the United States for at least 90 years.