Largest Health Insurance Companies of 2022, Insurance Quotes

The top health insurers by market share are United Health Group, Anthem, Sentin, Humana and Health Care Services Corporation (HCSC). Together these companies control about 46% of the health insurance market.

Insurance Companies :-

All of these providers offer basic health insurance products to individuals and organizations, among other services that may include Medicaid and Medicare policies, long-term care insurance, dental insurance and vision benefits.

What are the biggest health insurance companies?

The biggest health insurance companies in the United States include well-known insurance providers. Many of these companies offer a range of health products, and others specialize in specific areas. For example, while continuing to service its existing Affordable Care Act (ACA) policies, Humana now sells only Medicare plans to new members.

Largest Health Insurance Companies of 2022, Insurance Companies Quotes

Top 5 largest health insurance companies by membership

The largest health insurance provider can be defined as having the largest number of members in the company. Also called covered life, membership means the number of people enrolled in a health insurance plan with that provider. You can enroll in a health insurance policy in a variety of ways. For example, your employer’s benefit plan may offer health insurance coverage. Other ways include:

  • Medicare and retirement planning
  • Medicaid Services
  • Personal health insurance (through open enrollment)

UnitedHealth Group

United Healthcare, part of the United Health Group, the largest health insurance company among its members. United Healthcare offers a variety of products for some large corporations, from individual health insurance to full employer benefit plans. In addition, its policies can be purchased in all 50 states. United Healthcare is headquartered in Minetanka, Minn. In addition to having the largest number of members, United Healthcare has a network of 1.3 million physicians and healthcare professionals, including more than 6,500 hospitals. This means that if you have UnitedHealthcare, you will have many options to choose from

2. Anthem

Anthem is the second largest medical insurance provider by total members with over 45 million members. The company’s commercial and occupational healthcare division provides network-based care to large and small businesses, individuals and the Medicaid and Medicare markets.

Music is part of the Blue Cross Blue Shield Association. This means that when searching for anthem policies on your State Marketplace Exchange, you may find products called BCBS, but you will buy from Anthem.

The company currently operates in California, Colorado, Connecticut, Georgia, Indiana, Kentucky, Maine, Missouri, Nevada, New Hampshire, New York, Ohio, Virginia and Wisconsin.

3. Aetna

Aetna 2018 CVS Health Corp. Was acquired by CVS Health now manages the company and is able to seamlessly integrate its provider networks with Aetna’s membership base. Founded in 1853, Aetna is the third largest provider of health insurance and services by membership. However, most of its membership comes from providing health insurance to employers and their employees in the private market. Aetna 2022 plans to return to a limited number of ACA marketplaces for the year.

4. Cigna

Cigna is the fourth largest medical insurance company in the United States. Headquartered in Bloomfield, Conn., Cigna provides health insurance and healthcare to companies around the world. In addition to managing corporate health insurance policies and plans, Signa also offers dental, behavioral health, vision, complementary health and Medicare / Medicaid benefits.

Cigna currently offers personal health insurance in 13 states: Arizona, Colorado, Florida, Georgia, Illinois, Kansas, Mississippi, Missouri, North Carolina, Pennsylvania, Tennessee, Utah and Virginia. Signa also offers Medicare Advantage plans in 16 states and in Washington, DC.

5. Humana

Humana comes as the fifth largest health insurance company by membership. The provider was founded in 1961 and originally sold long-term care insurance before the health insurance policy was expanded to sell. Humana has not offered new separate ACA health insurance since January 2018 but will continue to respect its existing ACA policies. Humana now focuses on serving the Medicare market, with either a Medicare Advantage or a supplementary plan (or both) available in each state.

The largest major medical insurance provider by state

Individual health insurance policies can be purchased through the Health Insurance Marketplace if you are not currently an employer or receiving healthcare through a federally funded program such as Medicaid or Medicare. In 2021, 13.6 million people were enrolled in the plan through the Health Insurance Marketplace.

Below is the largest health insurance provider in each state by total market share.

State Company
Alabama Blue Cross Blue Shield of Alabama
Alaska Premera Blue Cross
Arizona Blue Cross Blue Shield of Arizona
Arkansas Arkansas Blue Cross Blue Shield
California Anthem Inc.
Colorado Anthem Inc.
Connecticut Anthem Inc.
Delaware Highmark
District of Columbia CareFirst
Florida GuideWell
Georgia Anthem Inc.
Hawaii Hawaii Medical Service Association
Idaho UnitedHealth Group
Illinois Health Care Service Corp.
Iowa Wellmark Inc.
Kansas Centene Corp.
Kentucky Anthem Inc.
Louisiana UnitedHealth Group
Maine Anthem Inc.
Maryland CareFirst
Massachusetts Blue Cross Blue Shield of Massachusetts
Michigan Blue Cross Blue Shield of Michigan
Minnesota Blue Cross and Blue Shield of Minnesota
Mississippi Blue Cross & Blue Shield of Mississippi
Missouri Anthem Inc.
Montana Health Care Service Corp.
Nebraska UnitedHealth Group
Nevada UnitedHealth Group
New Hampshire Anthem Inc.
New Jersey Cigna Corp.
New Mexico Presbyterian Healthcare Services
New York UnitedHealth Group
North Carolina Blue Cross Blue Shield of North Carolina
North Dakota Blue Cross Blue Shield of North Dakota
Ohio Anthem Inc.
Oklahoma Health Care Service Corp.
Oregon PacificSource
Pennsylvania UPMC Health Plan
Rhode Island Blue Cross and Blue Shield of Rhode Island
South Carolina Blue Cross Blue Shield of South Carolina
South Dakota Wellmark Inc.
Tennessee Blue Cross Blue Shield of Tennessee
Texas Health Care Service Corp.
Utah Intermountain Healthcare
Vermont Blue Cross Blue Shield of Vermont
Virginia Anthem Inc.
Washington Molina Healthcare Inc.

Ranking by Health Insurance Company Revenue

Based on our analysis, United Healthcare is the largest health insurance company in terms of revenue, with total revenue topping 20 286 billion for 2021. This makes the insurer the largest company by membership, market share and revenue. Anthem is the second largest healthcare organization in all three categories.

Health insurance companies generate revenue through premiums, policy volumes, the services they sell and the business they operate.

Rank Company Revenue
1 UnitedHealth Group $286 billion
2 Anthem $138 billion
3 Centene $126 billion
4 Kaiser Permanente $89 billion
5 Humana $83 billion
6 CVS Health $61 billion
7 HCSC $47 billion
8 Molina Healthcare $20 billion

 

Frequently Asked Questions

What are the top five largest health insurance companies?
The largest health insurance companies are UnitedHealth Group, Anthem, Centene, Humana and Health Care Service Corp. (HCSC). These five companies represent about 46% of the total market in the health insurance industry. United Healthcare is the largest health insurer in terms of market share, membership and revenue, totaling $ 286 billion in 2021.

How should a health insurance company compare?
It is important to compare health insurance companies when shopping for a health insurance policy. Outside of premium, deductible and plan networks, companies can have different variations. For example, some healthcare providers offer additional benefits if you are a policyholder, such as a gym membership or a discount on a health program. These should not be the number 1 reasons for choosing your company but it is important to consider in the shopping process.

How to determine the largest health insurance company?
When determining what the largest health insurance companies are, there are several variables to analyze. Market share, for example, analyzes the part of the industry controlled by the company and therefore shows the reach of the company among the policyholders. Furthermore, market share is closely related to total membership, which indicates the number of people the company currently covers health insurance. Finally, you can analyze the revenue, which is a measure of how much money that company brings annually.