The United States has a large number of private health insurance specialists. However, as noted by the Insurance Information Institute, life/annuity and property/casualty insurance companies also cover this coverage, commonly known as casualty and health insurance.
Direct premiums in the accident and health insurance industry reached $1.25 trillion, up nearly 84 percent from $680 billion in 2011. According to the National Association of Insurance Commissioners (NAIC), the top 10 insurance companies together account for 55.3% of the total U.S. market.
Here are the top 5 accident and health insurance groups, according to the NAIC:
Humana's Cultural Foundation is dedicated to helping members achieve optimal health by providing a personalized, simplified, holistic wellness experience.
Recognizing that each person, family, and community’s healthcare needs continue to evolve, Humana creates innovative solutions and resources to help people live their healthiest lives on their terms – when and where they need it.Recognizing that the health needs of every individual, family and community are constantly changing, Humana creates innovative solutions and resources to help people live their healthiest lives when and where they need it.
Direct premiums: $73.9 billion
Market share: 5.9%
2. Centene Corporation
Centene Corporation, a Fortune 500 company, is a diversified, multinational healthcare company that provides a portfolio of services for government-sponsored healthcare plans and focuses on the uninsured and underinsured populations. It operates in 50 states and three international markets and has more than 25 million managed care members.
Centene operates local health insurance companies and offers a range of health insurance solutions. It also contracts with other health and trade organizations to provide professional services ranging from behavioral health, dental services, life and wellness to wellness and pharmacy performance management to care management software, corrective health services, home health services, vision management, specialty pharmacy and telehealth services.
Direct written premiums: $75 billion
Market share: 6%
3. Anthem Corporation
Anthem, Inc. is a healthcare delivery company dedicated to improving lives and communities and simplifying healthcare. Anthem serves more than 106 million people through its affiliates, including more than 42 million in its family of healthcare plans. It aims to be the most innovative, valuable and inclusive partner.
The group's affiliated health plans create a variety of HMOs, PPOs, web-based dental products, a variety of hybrid and specialty products, and health plan services that combine attributes that consumers find attractive with effective cost control techniques. Individual members and employer groups can choose from basic and comprehensive plans to meet their specific needs.
Direct premiums: $76.9 billion
Market share: 6.2%
4. Kaiser Foundation
Kaiser Foundation Health Plan, Inc. is a nonprofit health organization. The organization provides allergy, audiology, cardiology, dermatology, oncology, hospice, laboratory, nephrology, occupational therapy, pain management, pediatric rehabilitation, and pharmacy services. The company serves patients in the United States.
Direct written premiums: $104.2 billion
Market share: 8.3%
As a diversified health and wellness company, UnitedHealth Group's core competencies are clinical expertise, advanced technology, and data and health information.
UnitedHealth Group serves customers and consumers in the United States and more than 130 other countries through two distinct platforms: UnitedHealthcare provides health insurance and benefits, and Optum provides information and technology-enabled health services.
Direct premiums: $176.7 billion
Market share: 14.1%