Shopping for health insurance is like shopping for other types of consumer products. The goal is to find a policy that delivers the most benefits, while at the same time fitting within your budget. Although skimping on health insurance can cost you a considerable amount of money in the long term, you still want to find a policy that you can afford.
Because of the sheer number of health insurance providers, finding the right plan for you can seem overwhelming at times. Then, you have to prioritize the criteria used to purchase the best policy. However, choosing the right health insurance plan helps you avoid the frustrations that develop when you access medical benefits, as well as when the time comes to get paid for your claims.
How Do I Choose the Best Health Insurance Provider?
The most important criterion for selecting the best health insurance provider involves balancing costs with the details of a policy. Health insurance policies vary in cost because of what providers offer. For example, some health insurance providers offer member portals and gym memberships. The financial rewards that you earn for participating in preventive health insurance programs should be an important factor when making a decision on choosing the best health insurance provider.
Health insurance costs encompass much more than the monthly premium. You also have to consider cost factors such as the annual deductible, as well as any copayment or coinsurance requirements. Finding a health insurance plan with a deductible that fits both your healthcare needs is just as, or even more important as finding a policy that charges an affordable monthly premium.
Finally, spend a little time reading the reviews left by policyholders. By referring to metrics published by organizations such as the NAIC complaint index and the J.D. Power customer service index survey, you should obtain a better understanding of how a health insurance provider treats its policyholders.
The 3 Best Health Insurance Providers
According to the data acquired by the National Committee for Quality Assurance (NCQA), Kaiser Permanente sits at the top of the list of the top health insurance providers followed by Blue Cross Blue Shield and UnitedHealthcare. Oscar and Molina are rated as the two worst healthcare providers.
With an average monthly cost of $454, Kaiser Permanente offers some of the most affordable health insurance plans, while providing comprehensive healthcare coverage. The company receives consistently high ratings from both policyholders and objective third parties such as trade associations. The NAIC complaint index shows Kaiser Permanente receives 76 fewer complaints than the healthcare insurance industry average. Top-rated in eight states, as well as Washington, D.C., Kaiser Permanente delivers outstanding customer service and provides streamlined access to high-quality healthcare services.
One of the cost advantages offered by Kaiser Permanente is the company pairs its health insurance coverage with the healthcare services provided by Kaiser medical facilities. You can access both health insurance and medical facility services through the same online portal.
Blue Cross Blue Shield
Blue Cross Blue Shield offers health insurance policies that charge at the high end of the industry for providing services at an average of $606 per month. However, the company is known for offering highly-rated health insurance plans that give policyholders access to a large network of healthcare providers operating in every state. AM Best has given Blue Cross Blue Shield a financial strength rating of A, which is an important factor for a company operating in an industry where many health insurance providers struggled with the negative financial consequence of dealing with the pandemic.
Blue Cross Blue Shield offers a wide variety of plan options, which include HMOs, PPOs, and EPOs. The company’s vast network of healthcare providers covers 90 percent of the nation’s physicians and hospitals.
Providing access to digital tools to enhance the healthcare experience represents the unique proposition value offered by UnitedHealthcare health insurance plans. The company receives the highest financial strength rating of A+, with policies costing an average of $546 a month. UnitedHealthcare receives positive reviews for offering comprehensive health insurance plans that include several add-on benefits. Self-employed professionals find the health insurance plans offered by UnitedHealthcare streamlines the claim-filing process, which saves them time and reduces the hassle of getting compensated for using healthcare services.
The highly-acclaimed UnitedHealthcare app allows you to make telehealth appointments, as well as obtain estimated costs for different medical procedures.
Take Advantage of a One-Stop Shopping Marketplace for a Health Insurance Plan
The old-school method for buying a health insurance policy required extensive research that involved making phone calls, receiving company brochures through the mail, and creating a comparative list of potential health insurance providers. Insurance Broker Hub has eliminated the time-consuming process of purchasing a health insurance policy. We are an independent national broker network that gives you access to every health insurance provider in the industry, including off-exchange providers. Get your free health insurance quote today!