top 10 insurance companies in usa

Top 10 insurance companies in US

In this article , we are focusing on bringing to you the top ten insurance companies or corporations in the United States.

When looking at what insurance is, it is regarded as a financial risk management in which a company or individual transfers a potential financial or property loss to an insurance company that mitigate it, this mitigation comes with a monetary compensation which is called premium.

Insurance policies is a legal contract existing between a policyholder or an insurance holder and the insurance company.

These insurance policies are different types depending on the level of risk involved.

The Insurance Regulatory and Development Authority is a Government agency that regulates and supervises the insurance sector in the USA.

TYPE OF INSURANCE

We are going to briefly look at some type of insurance that the top 10 insurance company in the U.S offers to their clients.

Life Insurance

Life insurance involves insuring a life against risk such as death, this type of insurance is divided into two types which are the traditional whole life insurance and term life insurance.

In traditional whole life insurance, whole life can be used as an insurance instrument, this includes death benefits and also a cash value component. As the insurance money grows you can take a loan from it or simply withdraw it to do what you want.

In term life insurance, the insurance covers you for a specific length of time, it can be 10,20, or 40 yrs depending on the agreement.

Health Insurance

This type of insurance covers your personal health, your family health or your workers health, in the USA health insurance can be obtained through your employer, from the federal health insurance marketplace or a privately owned insurance company.

Auto Insurance

Auto insurance, just like the name sounds, is the type of insurance that covers your auto properties, examples cars, bicycles etc.

With all the improvement in both road and auto safety, the U.S recorded about 31,720 deaths in traffic accidents and highways, in the first nine months  of last year, this is from the data made available to the National Highway Traffic Safety Administration.

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Almost all the states in U.S mandated the drivers to have auto insurance.

When purchasing auto insurance in U.S these are options available to you.

Liability coverage, Comprehensive and collision ,Uninsured/underinsured motorist (UM) coverage,  Personal injury protection (PIP).

Now that we have looked at the type of insurance we have, we will take a look at the top 10 companies providing health insurance services in the US.

Before we proceed, we would like to make a point that you have to note, in the US , the majority of the citizens need medical or healthcare at some point, and this is the reason why most of the insurance companies found in the US are majorly based on providing health insurance to their clients.

Due to the high price of healthcare, and to cover these costs US citizens have health insurance.

As we wrote earlier, health insurance companies and policies protect their clients from high and unplanned medical bills.

TOP TEN INSURANCE COMPANIES IN U.S

 Aetna

This is one of the oldest insurance companies in the US, Aetna is said to be about 169 years old.

Aetna is an American health care company that is into the selling  of both traditional and consumer directed health care insurance and other related services such as medical, pharmaceutical, dental, behavioral health, long-term care and disability plans, they sell all this through employer-paid , insurance programs.

Aetna operates within around 37 states, as of now, this company now offers prescription drug plans which are already available in 264 counties in the US.

This insurance company is also familiar with their plans in dental, vision, hearing and supplements.

 Harvard Pilgrim

Harvard Pilgrim is a non profit insurance company that is based in Canton, Massachusetts located in the New England region of the United States.

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Though the present day Harvard pilgrim is the combination of Harvard pilgrim Health care and Tufts health plan, the merging happened on August 14, 2019.

The newly formed Havard pilgrim serves about 2.4 million members in Massachusetts, Maine, Connecticut, New Hampshire, and Rhode island.

The company has over 250 employees and over 3 million customers.

Allstate

Allstate insurance company is an American based insurance company, having its headquarters in Northfield township, Illinois, near Northbrook.

Allstate was founded in 1931 as a subsidiary of Sears , Roebuck and Co.

Allstate is well known when it comes to  auto insurance, they help their customers to get their vehicles insured.

 HealthPartners

Group healthcare plan , also HealthPartners is a health insurance company that is into selling Medicare plans in more than 6 different states, those states include Minnesota, Wisconsin, North Dakota, South Dakota, Iowa and Illinois. This company is more popular with patients suffering from diabetes because health partners provide them with low price insulin.

Capital District Physicians’ Health Plan

This insurance company has the best related plan in the U.S market.

Just like Harvard pilgrim this company is also independent non-profit organization that provide health plans for around 500,000 citizens in New yoke.

Their health plan includes: dental work, vision services, prescription drugs and preventative medical care.

 Humana

This healthcare company is different from others operating in the US, this company is one insurance company that can cover the cost of eyeglasses, contact lenses , dental exams and crown.

This company is a well being insurance company that is operated on the mandate of catering for patients with chronic disease and illness,  people that where discharged from hospital and also people with special needs.

Cigna

Cigna is a household name , when it comes to healthcare insurance providers, they are known for their Global Health Advantage policy. The company doesn’t only provide health insurance to US citizens only but also to the entire globe.

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They have about 70,000 employees and 17 million customers.

The company is popular in Indiana, New Jersey and Ohio.

Cigna provides medical insurance in 13 states and dental policies in 50 states.

 Blue Cross Blue Shield

This is among the most popular healthcare insurance providers in the US.

Based on statistics one out of three people in the United States has an insurance policy with Blue cross Blue Shield.

Health policies provided by this company include carefirst, Highmark, independence and we’ll mark. Around 90% of hospitals in US is contracted with this company.

Centene Corp

This is a Multinational healthcare insurance company which is affiliated with the government. This company is responsible for providing services to uninsured and underinsured people.

Centene Corp is available in more then 50 states, with over 25 million customers.

Centene also offers a wide variety of plans which covers vision, home healthcare, behavioral health, dental and specialty pharmacy.

 Kaiser Foundation Health Plan

Kaiser Foundation Health Plan is also a non profit healthcare insurance company in the US. This company is one of the best and highest rated non profit companies.

This company provides more budget-based service plans for their customers alongside lower costs, there are no deductibles and prescription drugs.

CONCLUSION-Insurance is very important in our daily live, the unpredictable nature of our lives and assets makes it more important, it is advised to get an insurance policy suitable to your budget.

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