Top 10 Health Insurance Companies
According to customer reviews and such prestigious periodicals as USA Today, the top 10 health insurance companies in the United States are easily identifiable. However, above and beyond what is being written about these companies, one simply needs to look at their ranking in the major indices to see that these insurance companies have captured a major portion of the market. Since their respective stocks are a reflection of net worth, these numbers verify that each of these companies has earned its place among the top 10.
1. United Health Group
With annual sales of over $80 billion, United Health Group has cornered 12.36% of the market. The company offers both group and private health insurance and their services in the field of health include such companies as Prescription Solutions and Optimum Health Plan. Without a doubt, United Health Group ranks number one among the top 10 health insurance companies.
2. WellPoint Inc.
Coming in at #2, WellPoint Inc. has garnered 8.69% of the market share with yearly profits at $56 billion dollars. This group of Mutual insurance companies offers a wide array of services in the industry which are all targeted at helping consumers lower the cost of health care.
3. Kaiser Foundation Group
Just behind WellPoint is the Kaiser Foundation Group that is quickly working its way up the health insurance ladder. With a company that sells at least $48.4 billion they have claimed their fair share of the industry, approximately 7.5%.
4. Aetna Group
As one of the most recognizable names in health insurance, Aetna has roughly 4.5% of the market. Having been in the business for more years than many of us care to enumerate, the Aetna Group is said to net $28.1 billion a year.
5. Humana Group
Not only does Humana sell health insurance but there are a number of Humana hospitals/medical centers around the country. Annual earnings of $26.6 billion have placed Humana closely behind Aetna and this has solidified the number 5 spot with 4.11% of the market share.
6. Health Care Service Corporation
Although it looks as if there is a significant line of demarcation between the top and bottom five in the top 10 health insurance companies, HCSC’s figures are nothing to be ashamed of. With annual figures at $18.3 billion they have achieved 2.82% of the health care industry.
7. American Family Corporation Group
Next in line at position #7 is the American Family Corporation Group that claims 2.29% of the industry with annual profits at $14.8 billion. With extensive health care coverages, this group has been steadily growing and capturing an ever increasing segment of the market.
8. Coventry Corporation Group
With annual earnings of $13.1 billion, Coventry Corporation group also owns a significant portion of the market even though they only hold slightly over 2% of the total industry. Even so, those earning show that this is a company to be reckoned with as an outstanding provider of health insurance.
9. Highmark Group
The Highmark Group nets $12.9 billion and has a market share just shy of what Coventry holds. These two companies are in strong competition with one another and it will be interesting to watch their figures over the next couple of years.
10. Independence Blue Cross Group
What household doesn’t recognize the name of Blue Cross? Independence Blue Cross grosses $10.2 billion with almost 1.6% of the health care industry. You can expect Blue Cross to continue providing the same outstanding health plans as they have for a great many years. Most well known for writing group policies, Blue Cross has long been a favorite health plan as part of an employee benefits package.
While some of the above companies may write other types of insurance policies, most notably life or annuities, they are each a strong presence in the health insurance industry. If you are looking for health insurance either for yourself or for your employees as part of a group plan, the above top 10 health insurance companies would be a great place to start your search.