Health Insurance

Top Three Providers of Health Insurance

Health insurance is a natural concern for every citizen in the United States. In these modern times principally defined by a protracted economic downturn and less personal liquidity, many Americans have had to make some difficult choices as to which provider will suit them the best. It is obvious that having no coverage can be a financially dangerous situation should an illness or injury occur, and a further problem is that many individuals may be unaware of the best providers to choose from and what benefits each can provide, So, let of have a brief look at the top three providers and what unique benefits each offers. All the major providers offer a wide range of coverage and policy options, each may have specific drawbacks that can serve to influence which company to choose. As with any financial health-related decision, proper research should be undertaken to help determine which provider is the best option.

WellPoint, Inc.

In terms of sheer membership, WellPoint boasts the largest number of members in the country with 34 million participants in its individual insurance plans and another 70 million members included in its subsidiary policies. Created in 2004, numerous Blue Cross and Blue Shield policies are included within WellPoint's scope of operations, thus making this company compatible with many requirements throughout the United States. One of the main benefits this company provides is the fact that a wide array of insurance policies including HMO's, point-of-service plans, traditional indemnity plans and hospital-only packages. In addition, WellPoint also provides standalone packages that can cover such necessary requirements such as vision and dental. However, some complain that the explanation of policy coverage is less-than adequate and may be confusing to those unfamiliar with the health insurance industry.

 

Summarily, some of the major benefits that WellPoint offers are:

  • The most number of active members in the country
  • A wide variety of services including Blue Cross and Blue Shield policies
  • Additional policies for specific needs such as vision and dental coverage

One notable drawback is:

  • A less-than-transparent policy explanation

CIGNA Health Insurance Company

This company has a history that can be traced back for nearly 125 years, making it one of the oldest providers in the country. CIGNA currently boasts 11.4 million participants that are insured within the United States. To attest to the sheer size of this company, CIGNA processed 114 million claims in 2010 alone. Not only does CIGNA provide numerous health insurance options which make it the company of choice for many but it is also one of the leading disability providers in the United States. In fact, CIGNA is amongst the leaders in providing health insurance to businesses and their employees. Nonetheless, one notable critique of this company is in the fact that it only provides a certain number of visits to a medical professional before one has to pay out-of-pocket or purchase a more comprehensive policy.

Some of the major advantages of CIGNA are:

  • A company with a solid and well-known reputation
  • Efficient claims filing
  • A leading disability provider

One possible drawback may be:

  • A limited number of doctor visits available to treat an illness or to aid in rehabilitation

Aetna

This health insurance provider is another one of the oldest in the country. Tracing its roots back to 1850, Aetna is comprised of a health care component, a group insurance sector and a large case pension operation. More than 15 million people are covered by Aetna's policies. This company is also a large provider of dental care due to their comprehensive packages offered. More than 13 million members choose Aetna's health care plan. Aetna works with a large number of providers and like the other top companies, offers a wide range of individual policies. However, one of the notable disadvantages associated with Aetna is that the policy has an age cutoff of 65 years. Thus, many retirees will not be able to utilize the services Aetna provides.

Succinctly, some pronounced benefits of Aetna include:

  • A wide range of coverage options
  • One of the most extensive networks of health care providers
  • One of the largest providers for comprehensive dental care

One disadvantage is:

  • Those who are 65 years or older will not have access to Aetna's policies

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