If you find yourself diagnosed with an unexpected illness, you want a Best Health Insurance Companies that will provide a high level of care. While no health insurance company is perfect, you can find the best health insurance company for you by considering your needs, wants, and budget.
Below here is the brief definition on what health insurance is all about.
Health insurance is a type of insurance that covers medical expenses that arise due to an illness. These expenses could be related to hospitalisation costs, cost of medicines or doctor consultation fees.
On this article we shall below here now to show you the list of the best health insurance companies ranging from the best to the least.
List Of Best Health Insurance Companies In 2022
With affordable copays and nationwide coverage, Aetna easily lands a spot on our list of best health insurance companies of 2021. Specialist copays in a standard HMO plan begin at $35 and available benefit options include dental, hearing, vision, some holistic care, lifestyle (such as life coaching, counseling and quitting tobacco) and transportation coverage. Aetna receives an A.M. Best rating of A and a Better Business Bureau (BBB) grade of A+. The company also includes 5,700 hospitals in its network, and its plans can be purchased through the healthcare.gov marketplace, which makes enrollment easy and accessible. It offers plans in all 50 states and Washington, D,C. The Number of Providers in network is about 1.2 million and the physicians copays start at $20
2. Blue Cross Blue Shield
One of the more popular and established names in health care for 80 years, Blue Cross Blue Shield offers basic plan options with biweekly premiums starting at $68.48 (which comes out to $136.96 a month). BCBS plan options include health maintenance organization (HMO) plans, preferred provider organization plans (PPO) plans and, for government employees, a Federal Employee Program (FEP). Coverage across vision, dental, hearing and international care is also available. In some states, holistic care is covered and lifestyle and transportation coverage is an option. The BCBS network includes over 90% of all providers and hospitals nationwide, and the company has an A+ BBB grade and A.M. Best ranking of A. It Offers plans in all 50 states and Washington, D.C. The number of providers in network is about 1.7 million and the Physician copays start at $10.
A global provider, Cigna maintains relationships with over 180 million patients and customers worldwide. In some states, the company offers provider and specialist copays for as low as $0, and it offers exclusive provider organization (EPO) plans, along with HMO and PPO plans. Dental coverage is also available, and supplemental insurance policies like cancer treatment insurance and lump sum heart attack and stroke insurance are part of their plan portfolio as well. Cigna holds an A.M. Best ranking of A. It also offers plans in all 50 states and Washington, D.C. The number of providers in network is about 1.5 million and the physician copays start at $0.
UnitedHealthcare is another key health insurance provider in the U.S., with a hospital network of 6,500 reaching from coast to coast. In addition to HMO and PPO plans, UnitedHealthcare offers vision coverage, dental coverage, Affordable Care Act (ACA) plans, Medicare options and other supplemental insurance policies to cover events like accidents, hospitalization and even travel. In some states, specialist copays can be as low as $75.00. The company has an A.M. Best rating of A- and a grade of A+ with BBB. It offers plans in all 50 states and Washington, D.C. The providers in network is about 1.3 million and the physician copays start at $20.
Focused on the Medicare community, Humana is a well-known resource for people age 65 and older looking to enroll in Medicare. The company offers Medicare HMO and PPO plans and in some areas, premiums for Medicare Advantage plans can be as low as $0, depending on where you live. Humana also offers health insurance plans for business owners, tailoring plans to small and large groups alike. Supplemental plans available include, dental coverage, prescription drug coverage, vision coverage and fitness (gym membership) benefits. Humana plans can be purchased through the healthcare.gov marketplace. The company boasts an A- ranking from A.M. Best and an A+ grade from BBB. It also offers plan in all 50 states and Washington, D.C. The number of providers network is more than 260,000 and the physician copays start at$0.
Health Insurance Coverage
All health insurance plans sold on the federal marketplace are compliant with the Affordable Care Act (ACA), meaning they cover a set of 10 categories of services. These essential benefits that must be covered include:
- Outpatient care
- Emergency services
- Hospitalization, such as for surgery and/or overnight stays
- Pregnancy, maternity and newborn care before and after birth
- Mental health care and substance use disorder services
- Prescription drugs
- Rehabilitative and habilitative services and devices for those with disabilities, injuries or chronic conditions
- Laboratory services
- Preventative and wellness services, including cervical cancer screening and HIV screening and counseling
- Pediatric services, including vision and dental care
Outside these essential benefits, what a plan covers will vary, which is why it’s important to read the fine print.
How Much Does Health Insurance Cost?
The cost of health insurance varies dramatically, but certain factors might increase or lower your costs. According to HealthCare.gov, the five things that can increase your monthly premium are:
- Your age. Premiums can be as much as three times higher for older people compared to younger enrollees.
- Your location. Where you live impacts your premium, depending on factors like cost of living and state rules.
- Tobacco use. People who use tobacco products can be charged up to 50% more compared to those who don’t.
- Whether you’re seeking coverage as an individual or for a family. If you’re signing up for a plan that will also cover dependents, expect to be charged more.
- Your plan category. There are four different “metal tiers” of plans you can choose from: bronze, silver, gold and platinum. These categories determine how you split your costs with your insurer. For example, bronze plans typically have lower monthly premiums and higher out-of-pocket costs than the other tiers, and platinum plans tend to have the highest premiums with the lowest out-of-pocket costs.
While health insurance is generally considered very expensive, there are ways to get help with paying for your coverage, says Lang. A recent Stride survey, found 80% of uninsured gig workers who didn’t think they could afford health insurance weren’t aware of tax credits that could assist with low-cost coverage. The American Rescue Plan Act of 2021 (also called the COVID-19 Stimulus Package) has made insurance much more affordable, he adds. Stride data shows nearly 40% of gig workers who enrolled in health insurance in 2021 were paying less than $1 a month.
The ACA offers financial assistance that reduces monthly premiums and out-of-pocket costs to help make health insurance more affordable. Premium tax credits, for example, are based on household income. “You probably qualify for assistance,” says Lang. With the American Rescue Plan Act of 2021, Americans who previously qualified for subsidies are eligible for more money and people who weren’t able to qualify previously now can, he adds.
How to Choose Health Insurance for You
There are some questions to ask yourself to ensure you’re choosing the best health insurance plan for you, including:
- What will your total costs be? In addition to the monthly premium you pay your insurance company, consider your deductible and what your out-of-pocket costs might look like. “Some people would like to have premiums as cheap as possible and are fine with a higher deductible,” says Turner, while others prefer the opposite.
- Are your favorite doctors “in network”? Each insurance company works with a certain network of providers. Before signing up for a plan, ensure that the doctors you want to see are included in the plan’s network. “As a mom, I don’t ever want to have my pediatrician not be in my network,” says Moore. “If you love your OBGYN or your family practice doctor, find out if they’re in network before you sign up, because it can make all the difference.”
- What type of plan is it? If you sign up for a Health Maintenance Organization (HMO) plan, you generally won’t be covered if you seek out-of-network care unless it’s an emergency. If you pick a Point of Service (POS) plan, you’ll be required to get a referral from your primary care physician in order to see a specialist. The kind of plan you choose will affect your out-of-pocket costs.
If you’re struggling to figure out which plan is best for you, Turner suggests seeking the assistance of a health insurance navigator. These trained professionals can help you figure out if you qualify for any financial assistance and compare plans. To find a health insurance navigator, go to HealthCare.gov and enter your ZIP code. These services are “free, confidential and available to the public around the country,” says Turner.
Another option is to contact a health insurance broker. Doing so is typically free since they’re paid by health insurers, says Moore. “It’s really no risk to you to reach out,” she adds, and it can be a helpful way to feel more confident in your decision.