The five largest health insurance companies are UnitedHealth Group, Anthem, Kaiser Permanente, Ambetter and Humana
What are the biggest health insurance companies?
These five biggest health insurance companies.
Best health insurance companies in 2024
Published 3:42 PM EDT, Thu May 2, 2024
Methodology
Blue Cross Blue Shield
Best all-around policies
Blue Cross Blue Shield earned the top score in our study. It ranked well for plan types and availability, and average silver deductible. Additionally, it had the second-best score in our study for its quality of care and patient experience.
One thing to watch for is expensive premiums. Blue Cross Blue Shield had the highest average premium across the entire group, averaging around 17% higher across those aged 30, 40, 50 and 60.
- Average silver deductible was about $800 lower than the group average
- Has the most plan types and metal tiers
- Highest average Silver premium in group
- Premiums for 50-year olds were considerably high
You want an insurer that offers multiple plan types and metal levels and has a good complaint record.
Oscar
Excellent plan options
Oscar was one of two insurers to offer three different plan types, allowing you to opt for an HMO plan or explore other options that make referrals easier to obtain. The company also provides three metal levels, which means you should have a good number of options to fit your monthly budget.
However, Oscar has its drawbacks. It had the second-lowest rating in the group for quality of care and patient experience.
- Three plan types offered
- Three metal tiers offered
- Competitive average premiums
- Second-lowest rating in group for quality of care and patient experience
- Average Silver deductible was over $900 higher than group
You want to have multiple options for plan type and metal tier but want to avoid Blue Cross Blue Shield’s high premiums and Kaiser isn’t available in your state.
Kaiser Permanente
Lowest average deductible
Kaiser had the lowest average deductible among the companies considered for this category. Its $3,733 average was over $800 lower than the group average. The insurer’s average premium was lower than the group average, too, by around $60.
While Kaiser’s average deductible led the group, its complaint rate was higher than expected, and it offered only two plan types while other top companies offered three.
- Lowest average deductible
- Highest NCQA ratings in the group
- Complaint rate was higher than expected for a company of its size
- Limited plan types
You expect to have multiple visits to the doctor and at least one procedure done, so you need a plan with a low deductible.
Cigna
Excellent value
Cigna was one of the top companies in the group for value, which measures how well the company scored for its average deductible and premium. Value is an important metric because a low premium with a high deductible can result in high medical bills, while a high premium and low deductible might push your monthly budget to the limit and leave you with limited savings to pay for a medical emergency.
While Cigna scored well for value, its deductible was slightly higher than the group average and its customer service score was the lowest in the group.
- Among the best combined score for average deductible and premium
- Better-than-average premiums
- Deductible was slightly above average
- More complaints than expected
You want to find a good balance between an affordable premium and a manageable deductible.
Aetna
Lowest premiums
Aetna’s policies had the lowest average premium among all seven insurers we analyzed. The monthly cost for a plan averages just $639, compared to $705 overall. That’s a monthly savings of $66, or $792 per year.
While you’re likely to save on your monthly premium with Aetna, it’s in exchange for a higher deductible. In fact, the insurer’s average deductible was over $3,800 above the group’s average.
- Lowest average premium
- Above-average customer service score compared to the group
- Many more complaints than expected
- Average deductible was around $3,800 above group average
You don’t have preexisting conditions, are generally healthy, want to save some money on your monthly premium and have some extra money in savings to cover unanticipated out-of-pocket expenses.
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