According to a California Healthline report, the San Francisco-based Blue Cross of California holds the maximum market share of insurers participating in California’s ACA health insurance marketplace, Covered California. Let’s take a look at 5 top insurers in Covered California, the rankings have been made based on their market share and the number of enrollees.
The 5 Top Insurers In California Healthcare Marketplace
1. Blue Shield of California
Blue Shield of California is a health plan provider based in San Francisco, California. This company was founded in 1939, it serves to over 4 million health plan members and nearly 65,000 physicians across the state. Founded by the California Medical Association, this is a not-for-profit organization.
According to data, from Covered California, Blue Shield of California holds a total of 31 percent market share in the exchange and stands on top of this list. It has the largest number of enrollees (389,480) in the Covered California health insurance exchange.
2. Anthem
Anthem is one of the largest health benefits companies in the United States. The company was shaped when WellPoint Health Networks Inc. and Anthem, Inc. merged in 2004 to become the nation’s leading health benefits company. Headquartered in Indianapolis, Anthem, Inc. is an independent licensee of the Blue Cross and Blue Shield Association serving members in countries like California, Colorado, Connecticut, Missouri, Nevada, Georgia, Indiana, Kentucky, Maine, New Hampshire, New York, Ohio, Virginia and Wisconsin.
According to a California Healthline report Anthem stands on the second position in the 5 top insurers, it holds a total market share of 25 percent. Anthem has 310,690 members.
3. Kaiser Permanente
Kaiser Permanente is an integrated managed care consortium, based in Oakland, California. It was founded in the year 1945 by industrialist Henry J. Kaiser and physician Sidney Garfield. Kaiser Permanente consist of three different but codependent groups of entities:
1. Kaiser Foundation Health Plan, Inc.
2. Kaiser Foundation Hospitals
3. Regional Permanente Medical Groups.
According to a California Healthline report, Kaiser Permanente was third with 297,030 exchange enrollees, and 24 percent total market share.
4. Health Net
Health Net, Inc. is an American health care insurance provider. The company is headquartered in Woodland Hills, Los Angeles, California. It provides health insurance coverage for individuals, families, small business, large groups and Medicare Advantage recipients.
According to data, from Covered California, Health Net stands on the fourth position in the list of 5 top insurers. It holds a total market share of 11 percent and has around 142,790 enrollees.
5. Molina Healthcare
Molina Healthcare is a managed care company headquartered in Long Beach, California, United States. It was ranked at 201 in the Fortune 500, in the year 2016. The company’s health plans served about 3.5 million people in the year 2015 through its government-based healthcare programs.
According to data, from Covered California, Molina Healthcare stands on the fifth position. It holds a total market share of 5 percent and has around 68,590 enrollees.
This month, the health insurers filed their proposed rates for next year with Covered California. Post negotiations with the insurers, exchange officials are likely to announce the 2018 rate increases in July.
Date: 25 May, 2017