Health insurance coverage in 2020 reached 91.4%, yet 28 million people didn’t have insurance. Whether you’re just getting your insurance or are shopping around for a new provider, it’s crucial to consider the best insurance companies before looking to the lesser-known insurers.
3 Best Insurance Companies Going Into 2022
1. Blue Cross Blue Shield
Blue Cross Blue Shield is rated amongst the best insurance companies, and they offer the unique value of an extensive network. In addition, the complaint index shows that the insurer has 50% less complaints than the average, so policyholders are content with the service they receive.
However, plans are often more expensive through Blue Cross Blue Shield than other insurance providers.
A few of the perks of offering or obtaining a policy through the company are:
• Available in all 50 states
• Plans are well-rated
• Policyholders have access to an extensive network
HMOs, EPOs and PPOs are all available through Blue Cross Blue Shield. One of the main complaints that policyholders have is that processing wait times are long, and contacting customer service is a hassle.
2. UnitedHealthcare
UnitedHealthcare is an insurer with impeccable financial strength and a wealth of digital tools that can help improve health care for policyholders. Additionally, UnitedHealthcare provides comprehensive solutions to policyholders through a series of add-on benefits.
For example, most plans offer the following:
• Wellness programs
• Low-cost prescriptions
• Primary care for free
Add on packages and options fill in insurance gaps with dental, disability and vision coverage options available.
One of the downsides of having a policy with the insurer is that they have a complaint index that is 50% higher than average. However, the in-depth app does help policyholders avoid potential issues by offering easy ways to estimate costs, compare doctors and maximize the benefits of your plan.
3. Anthem
Anthem is an insurer that caters to younger adults. The company is part of the Blue Cross Blue Shield company, so they have access to a massive list of providers. Due to the insurer working with younger, healthier policyholders, they can offer:
• Lower costs
• Access to a wide network of providers
However, the insurance company also has a high denial rate for claims. If your workforce or you’re an individual that is younger, Anthem is a good option. With that said, if a policyholder has routine medical issues or may need surgery, the higher denial rate of Anthem makes them a less desirable company.
Additionally, the appeal process with Anthem is long and complicated.
While these companies all offer exceptional insurance options, some are better than others depending on your unique needs. For example, some are optimal for younger workforces while others are better suited for workforces.
Some of the other insurers that offer great insurance options but did not make it on our list, include:
• Aetna
• Cigna
• Humana
• Oscar
While no insurance company is perfect and without complaints, the companies above are some of the best rated in 2022.
If you’re looking for the best insurance companies for your business and employees, we can help.
Click here to learn how we help make choosing a health insurance provider easier.
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