The Best Health Insurance Companies of 2022

Yet there are difficulties in finding reasonable health insurance rates, especially for individuals who fall outside the subsidy level and those who are uninsured. Because of how the Affordable Care Act was conceived, health care premiums can vary greatly depending on where you live, how much money you make, and the size of your family.

To obtain affordable health insurance, you need to shop around among various providers and compare plans based on what they include, your monthly premiums, your annual out-of-pocket costs, and other factors. Investopedia crunched the numbers to determine the most economical health insurance providers in the market today.

Blue Cross Blue Shield

Insurance company Blue Cross and Blue Shield of California was established in 1929 and now provides comprehensive health insurance across the whole United States. 76 of America's Fortune 100 firms, 6.9 million small-business employees, 17 million unionized workers, and countless others are covered by the company's insurance policies.

Due to its health insurance alternatives for remote employees, including coverage that works across the country or internationally, we ultimately chose Blue Cross Blue Shield for our ranking.

Blue Cross Blue Shield is your best bet if you're looking to acquire health insurance that works in all 50 states. Because they participate in the Affordable Care Act marketplaces, customers who qualify for subsidies can lower the cost of their health insurance through these plans. Short-term or long-term travel can be covered by a global health insurance plan that works for both short-term and long-term travel.

UnitedHealthcare

With more than 70 million consumers under its care, UnitedHealthcare has grown considerably since its founding in 1977. More than 1.3 million physicians, health personnel, and 6,500 medical centers across the United States are directly affiliated with this provider. – Based on UnitedHealthcare's short-term health insurance solutions, which assist customers in bridging gaps when switching plans, we selected them for our rating.

Suppose you missed the enrollment period for the Affordable Care Act. In that case, you're waiting for coverage to begin or in between jobs, UnitedHealthcare's short-term insurance may be a viable option. You'll be ensured the day after you apply, and you'll be able to choose your deductible and coverage term. If a long-term insurance alternative becomes available, you can choose to cancel your short-term coverage without incurring any fees.

A+ financial strength grade from AM Best can be found on the financial strength of UnitedHealthcare's short-term health insurance plans.

Kaiser Permanente

From its inception in 1945, Kaiser has grown to be one of the country's biggest not-for-profit health insurance companies. 12.6 million Kaiser members reside in eight states and the District of Columbia.

Kaiser Permanente's HDHP (High Deductible Health Plan) and HSA (Health Savings Account) come with a handy debit card that lets you pay for eligible charges directly from your HSA savings. The $3.25 monthly plan charge is also waived if you have an HSA balance of at least $2,000 in your account.

Kaiser may also provide ACA-compliant plans in your region, so you may be able to use the subsidies you receive to lower your rates.

Oscar

Oscar was created in 2012, so it lacks the long history of some of its competitors in the healthcare industry. Nonetheless, they provide services to over 560,000 members throughout 19 states and 497 counties. They hope to expand to 22 states shortly. They still have a limited coverage area, but you may still benefit from their insurance if you live in one of those regions.

A mobile app and the option to make healthcare appointments by phone or video made Oscar the clear winner in our rankings of healthcare providers.

Oscar's mobile app makes it simple for users to manage their digital ID cards, schedule appointments, and locate in-network providers. Prescription updates and preventative care can be handled over the phone or via video conferencing. You can also schedule an infinite number of virtual appointments with a zero fee with Oscar's Virtual Urgent Care or Virtual Primary Care.

As a result of healthcare subsidies, you may well be able to acquire an ACA-compliant insurance plan via Oscar that is cheaper. During the open enrollment period, you can visit healthcare.gov to discover what insurance plans are available in your area.

Humana

Humana began in 1961 as a nursing home provider but has grown into one of the country's largest health insurers. Their substantial coverage options for Medicare Beneficiaries and Medigap clients earned them a spot on our list.

Humana's Medicare Advantage plans include HMOs, PPOs, PPFSs, and SNPs, among other options. A variety of coverage options are available, but all Medicare Advantage plans cover basic services like hospitalization and emergency transportation, telehealth consultations, routine checkups, visits to specialists and other health care providers, and medical supplies and equipment. All of these services are included in your medical insurance plan.

Also, Humana is renowned for its Medicare Supplement plans, commonly known as Humana Medigap plans. In most states, these plans, which differ from Medicare Advantage plans, are available to anyone who qualify for Medicare Part B. Medigap plans, like Medicare Advantage, can help fill the gaps in coverage that standard Medicare does not.