When it comes to finding the best health insurance company, it’s important to look beyond the price tag. Aside from affordable coverage, you’ll want to think about a company’s financial strength and customer satisfaction ratings, and its provider network as well. And, of course, your own health.
To help you make a decision, here’s a round-up of the year’s top health insurance companies.
Best Overall: United Healthcare
A.M. Best’s financial strength rating: A
NAIC Complaint Index 0.00
UnitedHealthcare is the biggest health insurance organization by total policyholders. It boasts high-quality service within its average-sized provider network.
Health, dental, vision, and disability coverage plans are available. Policies are typically more expensive when compared to plans from other providers but often come with access to wellness programs and added benefits.
Customers give UnitedHealthcare a high rating because of its excellent customer service and easy-to-use smartphone app. That said, availability in some states may be limited.
Best Provider Network: Blue Cross Blue Shield
A.M. Best’s financial strength rating: A
NAIC Complaint Index 0.20
Blue Cross Blue Shield (BCBS) and its many subsidiaries have the most expansive provider network available. They offer individual insurance policies with access to HMOs (health maintenance organizations), PPOs (preferred provider organizations), and EPOs (exclusive provider organizations).
Because BCBS is available in every state, there are several provider networks to choose from.
That said, there have been complaints about product servicing and coverage denials. Long wait times have been reported by customers trying to contact customer service or get their claims processed.
Best Online Health Insurance Company: Oscar
A.M. Best’s financial strength rating: A-
NAIC Complaint Index 0.12
Oscar offers both individual and small business policies. While it does charge above-average prices, it outshines its competitors in customer service and member benefits like on-call doctor services and policy tracking via the app.
Their telemedicine program, for example, allows you to consult an in-network doctor at any time during the day. You are also assigned a concierge team that will assist you with solving billing issues or finding the best emergency room.
The main downside to this health insurance startup is that its policies are only offered in 15 states. However, this may change soon, as the startup continues to grow.
Best for Medicare Advantage: Kaiser Permanente
A.M. Best’s financial strength rating: A
NAIC Complaint Index 0.33
Kaiser Permanente offers individual health insurance policies in California, Colorado, Georgia, Oregon, Washington state, Maryland, Virginia, Hawaii, and Washington, D.C. The Medicare Advantage policies that it is best known for, however, are available across the country.
In 2020, the company received the top ranking in J.D. Power’s Medicare Advantage customer satisfaction survey. This demonstrates that the company prioritizes both, its customers and providing excellent service.