Blue Cross Blue Shield is our pick for best overall health insurance provider because of its wide range of advantages, including provider network and widespread availability, good-value silver plans, and plan options. The Affordable Care Act (ACA) established national standards for health insurance plans, but some health insurance companies are better than others when it comes to delivering quality and value. To identify the best health insurance companies for the 2024 coverage year, we evaluated nine major health insurance companies for 40 criteria that span cost, plan quality and customer satisfaction, plan benefits, state availability, dental coverage, types of plans available, and ACA metal levels available. We used National Committee for Quality Assurance (NCQA) annual ratings to evaluate plan quality and customer satisfaction. The NCQA is a private nonprofit organization that evaluates health plans for patient care quality, patient satisfaction, and health plans' efforts to improve. Best Health Insurance Companies for 2024 Best Health Insurance Companies for 2024 The Bottom Line Compare Providers Health Insurance Guide Why You Should Trust Us FAQs Methodology Investopedia's Rating 4.8 Why We Chose It Blue Cross Blue Shield has strong ratings and offers a variety of quality, affordable health insurance plans, making it our top pick as the best overall health insurance provider. Pros & Cons Pros Best overall cost score Relatively high quality and customer satisfaction ratings Huge provider network Wide variety of plan types and metal levels Best value for silver plans Cons Plans are different in every state Overview Blue Cross Blue Shield is our all-around favorite because it hits the mark on a number of fronts. First, it won our best overall cost score, which combines information about premiums, deductibles, and copays across various age groups and metal tiers. BCBS also offers the best value for popular silver plans and the best value for 60-year-olds, based on the quotes we gathered. So, if you’re in that age group or looking for a medium level of coverage, this may be the provider for you. BCBS has an average NCQA rating of 3.59 out of 5 stars, the second highest of the insurers we reviewed. We like the fact that offerings are robust, too. In addition to health maintenance organization (HMO) plans, BCBS offers preferred provider organization (PPO) plans, exclusive provider organization (EPO) plans, and point-of-service (POS) plans, which is great if you don’t want to be restricted to in-network providers. And you can choose from four metal levels (bronze, silver, gold, platinum) and catastrophic coverage. Plans are available nationwide but vary by region, and Marketplace plans are not available in all areas. However, BCBS boasts one of the largest provider networks overall, with 1.7 million providers. Blue Cross Blue Shield is also an excellent choice for self-employed people and is our top pick in that category. (Note that we excluded Anthem from our evaluation of BCBS because it is a large competitor of BCBS in some markets.) Investopedia's Rating 3.9 Why We Chose It Kaiser Permanente is our pick for the best quality plans because of its high customer satisfaction and quality rating from NCQA, in addition to well-priced premiums. Pros & Cons Pros Highest customer satisfaction ratings Lowest premiums for multiple age groups and metal tiers Cons Most plans are HMOs Limited availability Overview Kaiser Permanente’s plans have the highest member experience ratings of any of the providers we reviewed. Kaiser’s plans have an average 4.2-star rating from the NCQA. Plus, the company came in first and second across multiple regions in the J.D. Power 2023 U.S. Commercial Health Plan Study. In addition, Kaiser offered the least expensive premiums for 25-, 35-, and 45-year-olds, and two metal levels (bronze and gold) that we surveyed. However, Kaiser Permanente is only available in eight states and the District of Columbia, and the insurer’s HMO plans restrict care to in-network providers. Kaiser Permanente offers four metal levels plus catastrophic coverage. So you’ll have options if you want an HMO in a state the insurer serves. Investopedia's Rating 3.8 Why We Chose It Oscar is our pick for health management programs, because it offers the highest number of those perks along with low copays. Pros & Cons Pros Widest variety of health management programs available Best copays for physician visits across silver and bronze plans Up to $75 annually in step rewards Cons Not available nationwide Low patient satisfaction ratings Overview A preventive health leader, Oscar offers the widest range of medical management programs among the providers we researched, along with an innovative program to reward you for taking steps toward a healthier future. Programs include asthma, diabetes, depression, pain management, heart disease, high blood pressure and cholesterol, low back pain, and pregnancy. It was the only insurer among the ones we surveyed to offer a weight loss program. Oscar also has the lowest physician copays ($0 in many cases). In particular, its bronze and silver plans offer particularly low out-of-pocket costs. You can get $0 virtual primary and urgent care with most plans and anywhere between $25 and $100 in Amazon gift cards for meeting your annual walking step goals. Though not all plan types are available everywhere, Oscar has PPOs, HMOs, and EPOs, and offers all metal tiers except platinum. But with limited state availability, Oscar isn’t an option for everyone. In addition, Oscar doesn’t offer adult dental coverage, which you’ll need to find elsewhere. Note that Oscar's plans only received an average 2.8-star rating from the NCQA. These ratings indicate relatively poor member experiences compared to other companies. Investopedia's Rating 3.5 Why We Chose It Aetna CVS Health provides free or low-cost MinuteClinic services seven days per week, making it the best health insurance provider for same-day care for minor issues. Pros & Cons Pros Offers MinuteClinic services at no or low cost Plan premiums can be $0 with tax credits 3.5-star average NCQA rating Cons No catastrophic plans Doesn’t offer adult dental coverage add-on Overview Aetna’s MinuteClinic offers access to convenient, no- or low-cost services on short notice. Schedule an appointment online to visit your local MinuteClinic seven days per week. Depending on your health needs, a medication can be prescribed during your visit, which you’ll pick up on-site. In some cases, this could be a good alternative to more expensive (and time-consuming) urgent care or emergency room visits. If you qualify for the premium tax credit and you buy your plan on the federal Health Insurance Marketplace, you could get your premium amount reduced to zero. This is why Aetna is also one of the best health insurance companies for the self-employed. Aetna's plans on the federal exchange only include federally mandated Essential Health Benefits—benefits beyond those required are not eligible for tax credits. So, make sure you understand what you're getting with the plan. Aetna also provides a $25/quarter allowance toward CVS-branded wellness products. It offers HMOs, PPOs, EPOs, and HMO-POS plans, but only in three metal tiers: Expanded bronze, silver, and gold. Its bronze pricing was the second-lowest among the insurers we surveyed. Unfortunately, it’s also one of the few providers we surveyed without catastrophic plans. Aetna’s plans have an average NCQA rating of 3.5 out of 5 stars, an improvement over last year’s score of 3.4. The company does not offer either adult dental coverage, however, and its ACA plans aren’t available nationwide. Ultimately, your options are limited by the availability of plans in your state and the drugs and services you need covered. But if you’re looking for well-administered plans and a positive member experience, Blue Cross Blue Shield may fit the bill. It offers good value alongside strong ratings and a wide breadth of plans. If Kaiser Permanente serves your area and you prefer an HMO, you can’t beat its plan ratings, cost, or track record for customer satisfaction. If you want low copays and various health management programs, Oscar is one company to consider. And Aetna offers excellent value if you want the convenience and affordability of CVS MinuteClinic services. Metal-level tiers reflect cost sharing between you and the insurance company. They include bronze, silver, gold, and platinum. Plans increase in coverage and cost as the metal gets more precious, with bronze having the lowest premiums but higher copays and deductibles, and platinum covering more costs and having the highest premiums. Catastrophic coverage typically has low premiums but very high deductibles. Before purchasing health insurance, look at things like your health history and age to determine the right plan type for you. For example, catastrophic health plans are only available to people under 30, unless you’re in difficult financial circ*mstances. The limited coverage may be more suitable for those without ongoing health concerns. If you have a pre-existing condition, health insurance providers who sell on the national Health Insurance Marketplace or a state marketplace can’t refuse coverage or charge higher premiums. Examples of pre-existing conditions include pregnancy, asthma, and diabetes. A manageable premium ensures you can pay the health insurance bill every month. Factors influencing your premium include the following: Investopedia scored health insurance providers on 27 criteria using data collected from government and other independent, third-party sources. Investopedia launched in 1999 and has been helping readers find the best health insurance companies since 2019. Open enrollment for 2024 coverage is from Nov. 1, 2023, to Jan. 15, 2024. You’re eligible to use the Marketplace to buy coverage if you are lawfully present in the United States, are not incarcerated, and do not have Medicare coverage. If you enroll and pay your first premium by December 15, your coverage starts January 1. Otherwise, your coverage begins February 1, as long as you’ve enrolled and paid your first premium. The premium tax credit is designed to reduce premiums for people with incomes between 100% and 400% of the federal poverty level. Estimate your income when shopping for plans to see if you qualify. Keep in mind that if your income is at or below 138% of the federal poverty level and your state has opted for Medicaid expansion, you may also qualify for your state’s Medicaid program. To sign up for an ACA plan, create a Marketplace account or an account with your state’s marketplace. Then fill out the application, which requires a variety of details including information about your household, employers, income, and current health coverage. You’ll immediately find out if you’re eligible for financial assistance. Next, you’ll choose a health plan and pay your premium. We researched and reviewed multiple insurers to find the best options you see above on this list. These are the companies we researched to help you learn more before making a decision: Aetna, Ambetter (Sunshine Health), Anthem, Blue Cross Blue Shield, Cigna, Kaiser Permanente, Molina Healthcare, Oscar, United Healthcare. To identify which health insurance companies to review, we analyzed business and market insight databases, considered health insurance company market share, and researched user-generated data from Google to determine public interest and trends in health insurance companies and plans. We collected data from the National Committee for Quality Assurance (NCQA), an independent organization that rates health care plans on quality and patient satisfaction. We also gathered data from state and federal government insurance marketplace websites and databases, and directly from companies via websites, media contacts, and existing partnerships. The data collection process took place between Sept. 29 and Oct. 23, 2023. We then developed a quantitative model that scores each health insurance provider based on 27 criteria that fall into four major categories and are crucial in evaluating the company’s offerings and benefits. We weighted the four categories as follows for this article: Read our fullmethodologyfor reviewing health insurance companies. Research and analysis byShanker Narayan Article Sources Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in oureditorial policy. National Committee for Quality Assurance. "Report Cards/Health Plans." J.D, Power. “Commercial Health Plan Member Satisfaction Declines in Key Areas, J.D. Power Finds.” U.S. Department of Health & Human Services. "Can I Get Coverage if I Have a Pre-Existing Condition?" HealthCare.gov. "How Insurance Companies Set Health Premiums." Healthcare.gov. "A Quick Guide to the Health Insurance Marketplace." Internal Revenue Service. "Eligibility for the Premium Tax Credit." Healthcare.gov. "Federal Poverty Level (FPL) - Glossary." Related Terms What Is Dental Insurance? Dental insurance helps people pay for dental treatments and procedures. Discover how it works and learn about the various coverage options. more Catastrophic Health Insurance: What It is, How it Works Catastrophic health insurance is medical coverage open to people under 30 and adults of any age who have a government-approved general hardship exemption. more What Is Short-Term Health Insurance? Short-term health insurance offers healthcare coverage for a limited period of time. more Health Insurance: Definition, How It Works Health insurance is a type of contract in which a company agrees to pay some of a consumer's medical expenses in return for payment of a monthly premium. more Health Maintenance Organization (HMO): What It Is, Pros and Cons A health maintenance organization (HMO) is a health insurance plan that provides health services through a network of doctors for a monthly or annual fee. more Health Insurance Deductible: What It Is and How It Works A health insurance deductible is the amount of money you must pay out of pocket each year before your insurance plan benefits kick in. Learn how health insurance deductibles work. moreBest Health Insurance Companies for 2024
Best Overall : Blue Cross Blue Shield
Highest Quality Plans : Kaiser Permanente
Most Health Management Programs : Oscar
Best for Same-Day Care : Aetna CVS Health
The Bottom Line
Compare the Best Health Insurance Providers
Company Availability NCQA Rating Additional Features Blue Cross Blue Shield Best Overall 36 states 3.6 out of 5 stars Best-value silver plans Kaiser Permanente Highest Quality Plans 8 states and the District of Columbia 4.2 out of 5 stars Lowest premiums across 3 age groups, and bronze and gold tiers Oscar Best Health Management Programs 18 states 2.8 out of 5 stars Best copays Aetna CVS Health Best for Same-Day Care 12 states 3.5 out of 5 stars MinuteClinic Guide to Choosing the Best Health Insurance
Determining the Level of Coverage You Need
Comparing Health Insurance Premiums
Why You Should Trust Us
Frequently Asked Questions
When Is Open Enrollment for Health Insurance?
What Is the Premium Tax Credit?
How Do I Sign Up for Health Care?
Companies We Reviewed
How We Chose the Best Health Insurance Companies
FAQs
Best Health Insurance Companies for 2024? ›
Kaiser Permanente is the top-rated health insurance company in the U.S. Good insurance companies include Blue Cross Blue Shield, UnitedHealthcare, Humana, Aetna and Cigna.
What is the highest rated health insurance company? ›Kaiser Permanente is the top-rated health insurance company in the U.S. Good insurance companies include Blue Cross Blue Shield, UnitedHealthcare, Humana, Aetna and Cigna.
Which company gives best health insurance? ›- Acko General Insurance Co. ...
- Bajaj Allianz General Insurance Co. ...
- Cholamandalam MS General Insurance Co. ...
- Future Generali India Insurance Co. ...
- Go Digit General Insurance Ltd. ...
- HDFC ERGO General Insurance Co. ...
- ICICI Lombard General Insurance Co. ...
- IFFCO Tokio General Insurance Co.
The Blue Cross and Blue Shield Association is a national federation of independent, community-based and locally operated Blue Cross and Blue Shield companies. Healthcare coverage is one of the most important decisions you make. Choose the card that opens doors in all 50 states.
What are the big 3 insurance companies? ›- #1: United Health Group (UNH)
- #2: Berkshire Hathaway Inc. ( BRK.B)
- #3: CVS Health Corp Group (CVS)
- #4: The Cigna Group (CI)
- #5: Elevance Health Inc. ( ELV)
- #6: Centene (CNC)
- #7: Ping An Insurance (PNGAY)
- #8: Allianz (ALIZY)
- Best Overall: Blue Cross Blue Shield.
- Highest Quality Plans: Kaiser Permanente.
- Most Health Management Programs: Oscar.
- Best for Same-Day Care: Aetna CVS Health.
1. UnitedHealth Group. UnitedHealthcare, part of UnitedHealth Group, is the largest health insurance company based on revenue. UnitedHealthcare offers a variety of products from individual health insurance to employer plans for some of the biggest corporations.
Who is the most trusted insurance company? ›Company | Our expert take | Forbes Advisor Rating |
---|---|---|
Nationwide | Best overall | 5.0 |
USAA | Best for military members and veterans | 4.8 |
Travelers | Great for drivers with speeding tickets | 4.7 |
Erie | Best for drivers who caused an accident | 4.6 |
# | Name | C. |
---|---|---|
1 | UnitedHealth 1UNH | 🇺🇸 |
2 | Elevance Health 2ELV | 🇺🇸 |
3 | Cigna 3CI | 🇺🇸 |
4 | HCA Healthcare 4HCA | 🇺🇸 |
UHC commanded the highest share of the U.S. health insurance market in 2021. Company reviews by consumers were more favorable for UHC, but a 2022 study shows BCBS ranked higher than UHC for overall customer satisfaction in several regions.
Who is the best private health insurance? ›
- Open Funds. Retention% Restricted Funds. Retention%
- HCF. 98.6% CBHS. 93.0%
- Onemedifund. 93.6% Teachers Health. 92.4%
- HBF. 92.3% Police Health. 92.2%
- Mildura Health Fund. 91.8% ACA. 91.9%
- Health Partners. 90.90% Reserve Bank. 91.4%
- HMO. One of the most common health insurance options is a health maintenance organization or HMO. ...
- PPO. Another common type of health plan is preferred provider organizations or PPOs. ...
- EPO. ...
- POS.
HMO plans typically have lower monthly premiums. You can also expect to pay less out of pocket. PPOs tend to have higher monthly premiums in exchange for the flexibility to use providers both in and out of network without a referral. Out-of-pocket medical costs can also run higher with a PPO plan.
Which insurance company has the most complaints? ›The auto insurance company with the most complaints is United Automobile Insurance, which receives roughly 40 times more complaints than the average insurer its size, according to the latest NAIC complaint index.
Which company gives the best insurance? ›- Care Health Insurance (100%)
- Niva Bupa Health Insurance (99.99%)
- Navi Health Insurance (99.99%)
- ManipalCigna Health Insurance (99.90%)
- Aditya Birla Health Insurance (99.41%)
Is Cigna good insurance? Cigna is a good insurance company, but it isn't usually the best option for most people. Even in the states where its rates are cheaper than the state average, Cigna usually isn't the cheapest health insurance. And its customer satisfaction is typically lower than average.
What is the highest rating an insurance company can have? ›The most well-known insurance specific rating company, the scores provided by AM Best are often considered the yardstick for financial strength in the industry. The highest rating offered is A++ (Superior) while the lowest is a D (Poor).
Is United Healthcare Better Than Blue Shield? ›UHC commanded the highest share of the U.S. health insurance market in 2021. Company reviews by consumers were more favorable for UHC, but a 2022 study shows BCBS ranked higher than UHC for overall customer satisfaction in several regions.