Top 10: Healthcare Insurance Companies
The global health insurance market is a massive industry, projected to reach a staggering market size of US$2.38tn in gross written premiums by 2024. With an average spending per capita of more than US$300 expected in the same year, the industry is poised for steady growth, with a projected annual growth rate (CAGR 2024-2028) of 2.43%, resulting in a market volume of US$2.62tn by 2028.
Leading the charge is the United States, which is expected to generate the highest gross written premium of US$1.6tn in 2024, showcasing the country's dominance in the health insurance landscape. With this massive market witnessing a significant shift towards digital platforms and telemedicine services, reflecting the industry's adaptation to changing consumer preferences and technological advancements, Healthcare Digital explores the top 10 health insurance companies in the United States by revenue.
10: Independence Health Group
Headquarters: Philadelphia, Pennsylvania
Market share: 2%
Revenue: US$26bn
Independence Blue Cross is the leading health insurance provider in the Philadelphia region, serving nearly three million people across southeastern Pennsylvania. A subsidiary of Independence Health Group, the company operates as an independent licensee of the Blue Cross and Blue Shield Association.
With a top priority of enhancing the health and well-being of its communities, Independence Blue Cross is committed to delivering accessible, quality healthcare solutions tailored to the needs of the areas it serves. As an experienced and trusted name, the company leverages its local presence and Blue Cross Blue Shield resources to drive better health outcomes for individuals and families throughout Philadelphia and beyond.
9: GuideWell
Headquarters: Jacksonville, Florida
Market share: 2%
Revenue: US$27bn
GuideWell is dedicated to driving positive transformation in healthcare to help people and communities achieve better health. Its approach imagines new possibilities by leveraging deep healthcare expertise to reshape the system into an integral part of people's lives. Supporting over 45 million people across 45 states, GuideWell's 18,000 employees provide localised, personal care experiences while maintaining a national scale. Through an integrated ecosystem of products, services and facilitated healthcare journeys, GuideWell strives to create exceptional care, drive efficiency and pave the way for a consumer-centric healthcare future.
8: Molina
Headquarters: Long Beach, California, United States
Market share: 2%
Revenue: US$29bn
Molina Healthcare specialises exclusively in government-sponsored healthcare programmes for eligible families and individuals. As a contracted health plan provider for state governments, Molina offers a comprehensive range of quality care services across 19 states, including Arizona, California, Florida and others.
In addition to Medicaid plans, Molina provides Medicare coverage and has been selected for several state duals demonstration projects, coordinating care for those qualified for both Medicaid and Medicare. With focused expertise in public sector programmes, Molina Healthcare strives to deliver accessible, affordable healthcare solutions tailored to underserved communities backed by government assistance.
7: Aetna CVS Health
Headquarters: Woonsocket, Rhode Island, United States
Market share: 3%
Revenue: US$41bn
America's leading health solutions company, CVS Health® provides advanced health care from pharmacy services and health plans to health and wellness.
As one entity, Aetna and CVS Health deliver integrated benefits supporting every member. Their combined nationwide network, over 1,000 MinuteClinic locations, in-home health support and other resources empower members to conveniently access quality, affordable care.
Aetna CVS Health offers a diverse portfolio of health plans, including commercial coverage, ACA plans, Medicaid, Medicare, as well as vision and dental options. With an expansive network of doctors, hospitals, virtual care and retail clinics, the company facilitates better health outcomes through personalised, accessible solutions.
6: HCSC
Headquarters: Chicago, Illinois, United States
Market share: 4%
Revenue: US$50bn
Formerly known as Health Care Service Corporation, HCSC stands as the largest customer-owned health insurer in the United States. Through its Blue Cross Blue Shield plans in Illinois, Montana, New Mexico, Oklahoma and Texas, HCSC provides nationwide access to care. With a diversified portfolio, the company empowers whole-person health through comprehensive products and services.
Boasting nearly a century of experience delivering healthcare peace of mind, HCSC now employs over 28,000 individuals serving nearly 23 million people across the country. As an independent licensee of the Blue Cross Blue Shield Association, this mutual legal reserve company leverages its customer-owned structure to prioritise members' needs.
5: Humana
Headquarters: Louisville, Kentucky, United States
Market share: 7%
Revenue: US$86bn
For over 60 years since 1961, Humana has dedicated itself to helping people live healthier, happier lives. Its personalised approach centres on truly listening to members and crafting customised solutions to help each individual achieve their best self. Humana's caring philosophy extends beyond just providing health plans.
The company is deeply invested in local communities across the nation, striving to actively support and enhance towns and cities where their members live and work. Through tailored care from empathetic people and a commitment to improving communities, Humana aims to make a positive impact on overall well-being. Its focus remains on understanding unique needs and delivering solutions that resonate.
4: Centene
Headquarters: St. Louis, Missouri, United States
Market share: 9%
Revenue: US$110bn
For over 30 years, Centene has specialised in operating cost-effective, government-sponsored healthcare programmes that enhance medical outcomes. The company collaborates closely with state governments, members, providers, families and other organisations to deliver tailored solutions. Centene's approach recognises the unique needs of each state, individual and family, focusing on removing barriers to care access.
Through partnerships and customised programmes, Centene aims to provide the highest quality care while generating value for its stakeholders. With a deep understanding of government-sponsored healthcare, the company leverages its expertise to improve lives and control costs across its nationwide network of health plans.
3: Kaiser Permanente
Headquarters: Oakland, California, United States
Market share: 9%
Revenue: US$114bn
Kaiser Permanente is one of the largest nonprofit integrated healthcare systems in the United States. Founded in 1945, it operates 39 hospitals and over 700 medical offices, with nearly 12.5 million members nationwide. Kaiser Permanente's model combines care delivery, a not-for-profit health plan, and a team of renowned physicians and care providers.
Its pioneering approach emphasises preventive care and puts members at the centre of their healthcare experience. Kaiser Permanente is consistently recognised for clinical excellence and quality, with a strong focus on innovation, technology and providing accessible, affordable care. Through its coordinated system, Kaiser Permanente aims to transform healthcare for the better.
2: Elevance Health
Headquarters: Indianapolis, Indiana, United States
Market share: 10%
Revenue: US$124bn
Formerly known as Anthem, Elevance Health is a leading health company dedicated to improving lives and communities, and making healthcare simpler. Through its affiliated companies, Elevance Health serves more than 115 million people, including 46.9 million within its family of health plans. Delivering health beyond healthcare, Elevance Health is expanding from being a partner in health benefits to a lifetime, trusted health partner.
According to Gail K. Boudreaux, President and CEO of Elevance Health: “Our bold and ambitious purpose of improving the health of humanity and commitment to whole health affirms Elevance Health’s essential role in addressing the broader needs of society and ensures as we grow, we shape a better world for all.”
1: UnitedHealthcare
Headquarters: Minnesota, United States
Market share: 15%
Revenue: US$189bn
UnitedHealthcare, a subsidiary of UnitedHealth Group, stands as the largest health insurance company by revenue and has a mission is to help people live healthier lives and improve the healthcare system for all.
UnitedHealthcare offers a diverse array of products, from individual health plans to employer-sponsored coverage for major corporations. Across the United States, it provides health benefit plans tailored to different ages, lifestyles and budgets, including plans for individuals, families, employer groups, Medicare beneficiaries and Medicaid recipients. UnitedHealthcare collaborates with over 1.3 million physicians, 6,700 hospitals and care facilities nationwide to enhance access to quality care.
For those living or working abroad, UnitedHealthcare’s global solutions simplify healthcare experiences worldwide. UnitedHealthcare also operates healthcare facilities in South America and Europe, delivering health benefits and care internationally. With a comprehensive suite of offerings and a widespread network, UnitedHealthcare strives to make quality healthcare more accessible and affordable for all.