Healthcare insurance, also known as health insurance, is any program that assists in the payment of medical expenses, whether through privately purchased insurance, social insurance, or a government-funded social welfare program. In a more technical sense, the term “health insurance” refers to any type of insurance that pays for an insured person’s medical, surgical, and sometimes dental expenses. This term’s synonyms include “health coverage,” “health care coverage,” and “health benefits.”
The United States’ life insurance system was established in the mid-1700s, but the first forms of health insurance did not emerge until 1860, when the Franklin Health Assurance Company of Massachusetts (the country’s first commercial insurance company) began providing private healthcare coverage for injuries that did not result in death. However, it took decades for the first modern health insurance plans to emerge.
50 Largest Health Insurance Companies in the U.S. Overall
Kaiser Permanente
Members of Kaiser Permanente can be found in eight states and the District of Columbia. It provides the following plans:
Individual medical insurance
Health insurance provided by employers
Medicare Supplemental Insurance
Medicaid, which includes Medi-Cal
Kaiser Permanente is a comprehensive health-care system that includes both medical providers and insurance coverage.
The company specializes in a care model that encourages experts from various departments and specialties to collaborate across departments and specialties, such as cancer care, cardiac care, maternity, and pediatrics. According to the company, this speeds up the process of diagnosis, treatment, and recovery.
Elevance Health (Anthem)
Elevance Health, formerly Anthem, offers Anthem and Wellpoint brands, as well as multiple Blue Cross Blue Shield plans.
Elevance provides the following plans:
Individual medical insurance
Health insurance provided by employers
Medicare Supplemental Insurance
Supplemental Medicaid insurance
HCSC
Health Care Service Corp. is the nation’s largest customer-owned health insurer, with members in five states. Blue Cross Blue Shield plans are offered in Illinois, Montana, New Mexico, Oklahoma, and Texas.
The following plans are available from HCSC:
Individual medical insurance
Health insurance provided by employers
Medicare Supplemental Insurance
Supplement to Medicare
Other types of coverage are available through Medicaid HCSC affiliates and subsidiaries, such as group life, disability, and dental insurance.
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