loading...
If you’re ready to shop for plans from the top health insurance companies, you can use the tool below to find the best providers and plans in your area. It will be time to act soon: Under federal law, open enrollment to get health coverage for 2016 begins Nov. 1, 2015, and ends Jan. 31, 2016. That deadline applies for all major medical plans, whether you shop for them on a state or federal health exchange, private insurer websites, or through an insurance broker. After Jan. 31, you’ll be able to enroll only if you have a qualifying life event, such as getting married or having a child.
Because there is no “best” health insurance company for everyone, I’ll instead focus on finding the best provider and plan for you. I’ll discuss how geography affects your choice of health insurance and briefly mention companies that have a good reputation for customer satisfaction.
I’ll also cover how different types of health plans operate, what major medical plans must include, and special considerations that may apply when you’re shopping. For an in-depth discussion on how to find a good plan on a budget, check out my post on How to Find Affordable Health Insurance in 2016.
How Geography Affects Your Health Insurance Choices
The reality of the U.S. health insurance industry means you may not have much latitude to choose your provider. How much choice you have almost entirely depends on where you live.Generally, if you’re in a big city in a densely populated state, a good number of insurers will be competing for your business. But in some rural areas, there may be a single dominant insurer. In fact, in 2010, a single insurer had gobbled up more than half the market for individual health care plans in 30 states, according to the Kaiser Family Foundation.For example, if I lived in New York City and needed
individual medical coverage, I could choose from more than 150 plans from at least a dozen health insurance companies on that state’s health insurance exchange. If I lived in Wheeling, W.Va., I could choose from 14 plans on the federal health exchange (used by many states, including West Virginia), all provided by a single insurer: Blue Cross Blue Shield.The ACA aims to stimulate more competition across the country, and there are signs that’s happening in some small measure. In 2015, 86% of eligible individuals could choose from at least three insurers on the federal health exchange, an increase from 70% in 2014.Still, that’s not the case in some parts of the country, where the best health insurance company for you may be the only one that will take your business. Aetna’s bid to acquire Humana and Anthem’s bid to buy Cigna could also
Best Health Insurance Companies for Customer Satisfaction
If you’re lucky enough to live in an area with a lot of top health insurance companies offering competitively priced plans, you may be able to factor in an insurer’s reputation for providing satisfactory service. Be careful not to put too much stock in individual reviews of health care companies, however. They are highly dependent on very personal circumstances, and they are overwhelmingly negative across the board.There are a few resources that allow you to get a wider, more reliable snapshot of the top health insurance companies. J.D. Power’s 2015 Member Health Plan Studyranks several providers by U.S. region. Insurers that come out at or near the top in several states include the Kaiser Foundation Health Plan and Blue Cross Blue Shield. (Be sure to check your specific region, as the same insurers that are in the top in some states may rank at the bottom in other states.)In Insure.com’s 2014 customer satisfaction ratings, Kaiser Permanente (parent company of Kaiser Foundation Health Plan) comes out on top, followed by Humana, Blue Cross and Blue Shield of Florida, and UnitedHealthcare.You may also obtain rankings for certain plans via Consumer Reports, which obtains data from the National Committee for Quality Assurance. You can search for plans in your area by selecting plan type (HMO, PPO, Medicare, or Medicaid) and your state.
Best Health Insurance Companies by Region
The following data come from J.D. Power’s 2015 Member Health Plan Study, which examined more than 31,000 plan members’ satisfaction with coverage and benefits; provider choice; information and communication; claims processing; cost; and customer service.
EmoticonEmoticon