Top 10 Health Insurance Companies in the US

The 10 largest health insurance companies in the US control nearly 57% of the market, underwriting $821.5 billion worth of premiums in the past year. These figures are from the latest market share data from the National Association of Insurance Commissioners (NAIC).

The top 10 health insurance companies in the US revealed
The country’s accident and health insurance industry wrote more than $1.44 trillion worth of premiums in the past year, up by a whopping 112% from $680 billion in 2011. This indicates a robust health insurance space that caters to the medical and healthcare needs of the US population. According to the 2022 NAIC Health Insurance Report1, U.S. health insurers earned approximately $1 trillion in total net earned premiums. This was an 11.4% increase in premium spending from U.S. consumers from 2021 at $898 billion. UnitedHealth, which takes the top spot in our list above, wrote roughly $221 billion in premiums in 2022. Blue Cross Blue Shield of Massachusetts, however, wrote $8.6 billion.

How PeopleKeep can help you provide employee benefits
HRAs and stipends are an excellent way for you to provide a health benefit, but you might be concerned about administering them. Luckily, People Keep’s HRA administration software and stipend software can help you administer your employee benefits quickly and easily. People Keep gives employers a simple and effective platform to manage their benefits.

Health stipend
Another way to provide your employees with flexible benefits is with a health stipend. Health stipends are handy because they’re less regulated by the federal government than other traditional health benefits, including HRAs. So particularly for small employers, stipends may be easier to manage. However, this benefit type is also for employers of all sizes.

1. UnitedHealth Group
Head office: Minnetonka, Minnesota
DWP: $221.4 billion
Market share: 15.4%

Rank Company Market share in 2022
1. UnitedHealth Group 15.34%
2. Elevance Health Inc. 7.16%
3. Centene Corp. 6.68%
4. Kaiser Foundation 6.18%
5. Humana 6.03%
6. CVS Health 5.82%
7. Health Care Services Corporation (HCSC) 3.53%
8. Cigna Health 2.39%
9. Molina Healthcare Inc. 1.99%
10. Guidewell Mutual Holding 1.84%

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