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Best Health Insurance Companies 2020

The best health insurance companies

The right health insurance plan can go a long way toward covering your costs and reducing the chance that a serious illness or injury could lead to financial ruin. By comparing the plans of the best health insurance companies, it is possible to find the coverage designed for you and your budget.

We've compiled a list of the best health insurance companies, designed to help you know where to start your search. Your arrival depends on where you live, but it is very likely that you will find a plan that suits your circumstances.

Cost is always important when it comes to choosing health insurance. But don't forget to make sure the plan you sign up for meets your needs.

See also the network of doctors you can access with the Plan. If you travel a lot, you will want to choose an operator with a larger network.

Rating services provide a good window to see how the company treats you as a customer.

Best Overall: UnitedHealthcare

With its wide diversity and large market share, finding a UnitedHealthcare health insurance plan is not difficult. This company has the largest market share of the best health insurers, with 14.17%, according to the National Association of Insurance Commissioners (NAIC). 1 This represents coverage of more than 70 million Americans in 16 states in all regions of the country.

Although it does have some customer satisfaction drawbacks, UnitedHealthcare Group makes up for it with wide access, low-cost plans, and a well-designed website.

Better to try online: UnitedHealthcare

In addition to being one of the best sites overall, UnitedHealthcare also has the best online portal. You can manage your healthcare account online, find service providers, and more. The mobile app is easy to use and you can even speak with a doctor via mobile device. This accessibility makes it a solid option for those looking for a better online experience.

Best value: Aetna

If you're looking to get the best bang for your buck, consider Aetna. Then CVS got it in 2018. 5 Aetna offers health plans in all 50 states. In addition, it offers a variety of plans that are compatible with health savings accounts (HSA). These more discounted plans tend to have lower premiums.

Best Provider Network: Blue Cross Blue Shield

Since Blue Cross Blue Shield has an extensive national network, as well as access to a variety of discounts, this health insurance network is one of the best. In fact, Anthem, Blue Cross Blue Shield's largest provider, has a 6.07% share of the health insurance market, according to the NAIC. 9

There are some special and regional differences in coverage, but for the most part, you can get full coverage quite easily.

Best for older clients: Humana

With a market share of 5.06% 13, it is not surprising that Humana is one of the best health insurance companies. However, what makes this company great for seniors is the fact that it doesn't increase premiums for senior customers, just based on their age. The most expensive policies are Health Maintenance Organizations (HMOs), however pharmacy options can be very limited. However, Humana Pharmacy ranks highly in mail order, which also makes it attractive to older customers.

Best for health care: Molina

There are several clinics run by Molina, making them a strong option for health care and prevention. The market share of this health insurance company is 1.67% and 17 Molina plans are not available nationwide. Many of the plans cover items like prenatal care and vaccines for adults, making them a solid option for healthcare. With 3.4 million members, 18 are more likely to find Molina plans on government insurance exchanges offered by Medicaid and Medicare.

Best for Short Term Policies: National General

Not everyone needs a long-term health insurance policy. This is where the National General can help. This company offers one of the best accesses to short term health insurance policies, or if you are temporarily without health insurance. You will end up paying more for this coverage, due to its short-term nature.

Best for HMO Plans: HCSC

Health Care Service Corporation (HCSC) is known as one of the "World's Most Ethical Companies," according to the Ethisphere Institute. HCSC owns 3.42-20% of the healthcare market share and is the largest consumer-owned health insurance company, with 15 million members in five states. This company offers relatively competitive rates as it offers a number of HMO options. You will also find a number of online health tools and programs.

Best for HSA Options: Kaiser Permanente

Kaiser Permanente is one of the most popular health insurance providers with an 8.42% of 22% share of the healthcare market, second only to United Healthcare. However, Kaiser only offers coverage in eight states. However, for those with access to coverage, this is one of the best health insurance companies because of its strong customer service. Plus, all plans except the top tier contain HSA options, which can lead to lower insurance premiums and a better use of your health care money.

Best Customer Service: Kaiser Permanente

In addition to offering great HSA options, Kaiser Permanente is known for serving clients. The company is one of the top recipients when it comes to customer satisfaction, according to the 2019 JD Power & Associates Business Member Health Plan Study. Additionally, gives Kaiser Permanente an 89 out of 100 for claims processing.

Best for telehealth: Cigna

Increasingly, the ability to participate in telehealth services is important, especially in rural areas. Cigna, with its 2.70% share of the healthcare market, is known for its ability to connect you with remote healthcare professionals. Cigna offers its services in 10 states and offers a variety of plans and coverages with different levels of premiums.

Best to cover ACA: Centene 

After purchasing Fidelis Care in 2017, Centene has become the largest provider of insurance offered under the Affordable Care Act (ACA). It is known to provide coverage in areas where other ACA plans have chosen not to participate. Centene has a 3.29-29% market share.

Best Health Insurance App: Oscar

Oscar is a health insurance startup with a great app. However, the focus is on Exclusive Provider Organizations (EPOs), which can make PPOs or HMOs difficult for those who want to access them. There is a high level of satisfaction with customer service and there are huge benefits for members, especially the Doctor On-Call feature.

How to choose a health care plan

When choosing a health insurance plan, cost is an important factor. However, it's also important to review coverage and make sure the plan meets your needs. Also, consider the network and availability of your providers. If you travel a lot, you may want to choose a company with a large network so that you can reach providers wherever you go.

Don't forget to also look at the rating. For example, AM Best's financial rating considers stability, so a company with an excellent or good rating, such as A or B, has probably been around for a while. The JD Power and NCQA ratings look at customer service satisfaction and patient care outcomes, respectively. These ratings can help you identify health insurance companies that can provide you with an experience that meets your expectations.

How do we choose the best health insurance companies?

We choose the best health insurance companies based on the types of plans they offer for different demographics and needs. Trusted source ratings and accessibility, among other factors, also played a role in creating this list of the best health insurers.

However, the best insurance company for you will depend on your individual circumstances. Do your research to determine which one works best for you and which plan will provide the coverage you need at an affordable price.