The Best Health Insurance Companies with Plan
The Best Health Insurance Companies
A quick look at the 7 best health insurance companies
- Best customer service: Aetna
- Best overall customer satisfaction: Blue Cross Blue Shield
- Best for pharmacy programs: Cigna
- Best benefits available: United Healthcare
- Best for dental benefits: Ambetter
- Best for Medicare coverage: Humana
- Best for low cost options: Kaiser Permanente
The Affordable Care Act (ACA) of 2010 requires most U.S. adults to purchase health insurance. Health insurance is important because it can cover the costs of an unexpected accident, illness, or any routine medical care. And if more people decide to stay uninsured, the overall cost of health insurance will rise.
For some, health insurance might seem like a luxury. Plans can be expensive and difficult to understand. To help you find the best health insurance company to choose this year, we’ve analyzed some of the top networks in the United States.
Read on for our breakdown of these seven choices.
How we chose
As we researched health insurance companies, we took a few key factors into account:- Affordability. The cost of a monthly premium will vary based on your location, plan, and whether you’re covered by your employer. We still tried to find options that can fit every budget, though.
- Benefits. Benefits are additional services covered by health insurance, such as dental or vision care.
- Customer ratings and reviews. Finally, we combed through customer ratings and reviews to make sure we only recommended highly rated companies.
What types of health insurance plans are available, anyway?
Health insurance can get confusing. Here’s a quick breakdown of plans that are typically available through networks:
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Marketplace plans. Depending on what’s available in your area, you may find bronze, silver, gold, and platinum marketplace plans. These levels are broken down by how much you pay versus how much your network pays. Some of these can include:
- Exclusive Provider Organization (EPO). This is a managed care plan where services are covered only if you use doctors, specialists, or hospitals in your plan’s network, except in an emergency.
- Health Maintenance Organization (HMO). An HMO usually limits coverage to care from doctors who work for or contract with the HMO. It generally won’t cover out of network, except in an emergency. The plan may require you to live or work in its service area to be eligible for coverage.
- Point of Service (POS). With this plan, you may pay less if you use doctors, hospitals, or other healthcare professionals that belong to the plan’s network. They typically require you to get a referral from your primary care doctor to see a specialist.
- Preferred Provider Organization (PPO). You pay less if you use providers in the plan’s network. You can, however, use doctors, specialists, and hospitals that are out of network without a referral for an additional cost.
- High Deductible Health Plans (HDHPs). For HDHPs, there’s a higher deductible than most healthcare networks, but there’s a lower monthly premium. You can combine an HDHP with a health savings account (HSA) or a health reimbursement arrangement (HRA).
- Medicaid. Medicaid is a federal and state program that helps with healthcare costs for people with limited resources and incomes. Some people who are eligible for Medicaid include low income adults, children, pregnant people, older adults, and people with disabilities.
- Medicare. This is a federal health insurance network for people who are 65 years old or older, some younger people with diseases, and people with end stage renal disease.
A comparison of the best insurance companies
| Insurance company name | Considerations | Coverage area | Number of providers in network | Benefits |
|---|---|---|---|---|
| Aetna | They do not offer individual health insurance plans. | all 50 states | 35,000 | vision or dental coverage; telehealth care, free screenings, preventive care, all depending on the plan |
| Blue Cross Blue Shield | Quality is average. | all 50 states | 1.7 million | vision or dental, hearing, telehealth care; fitness discounts, over-the-counter medical management, all depending on the plan |
| Cigna | Annual out-of-pocket limits are high. | 13 states | varies | vision, dental, or hearing coverage; pharmacy programs and telehealth care, all depending on the plan |
| United | In some cases, claims have to be submitted by the customer. | 18 states | 1.3 million | vision, dental, or hearing coverage; virtual visits, mental health care, rewards programs, house calls, all depending on the plan |
| Ambetter | Lack of digital tools. | 26 states | varies | vision or dental coverage depending on the plan |
| Humana | Short-term plans are not available . | all 50 states | varies | vision, dental, or hearing benefit coverage; prescription drug coverage, and fitness discounts, all depending on the plan |
| Kaiser Permanente | Low cost options are available. | 8 states | 23,000 | vision or dental coverage; an exercise program, help with hearing aids and glasses care, and over-the-counter drug care, all depending on the plan |
What insurance company has the best benefits?
While many health insurance companies have good benefits, Blue Cross Blue Shield offers some of the best. BCBS customers can enjoy excellent dental or vision benefits with most plans.
What’s a good health insurance deductible?
Your deductible is the amount you’ll have to pay each year for covered healthcare services before your insurance kicks in and covers the rest, leaving you with just a copay. The average deductible with employer-based coverage for an individual is $1,945. For families, it’s around $3,722.
How do I choose the right health insurance?
You can choose the right health insurance by considering factors that are important to you, such as affordability or the types of plans offered. It’s also important to research customer reviews and ratings to help you pick a good health insurance company. Compare all of your options side-by-side to make your final decision.
