The Best Health Insurance Companies in Obamacare (2024)
Compare the best health insurance companies in the marketplace. Costs, benefits, availability, and more with Cuspide.
What are the best health insurance companies in Obamacare?
Inside the Affordable Care Act or Obamacare there are many companies that offer healthcare plans. Depending on the state there will be many different companies.
While the term “best” can vary on everyone’s individual needs, we used many metrics to form this list. Cuspide looked at all the health insurance plans offered, costs, availability, and more. On top of that, we used the National Committee for Quality Assurance (or NCQA) to help us get an overall rating of these companies.
Below are the top health insurance in the United States.
Kaiser Permanente
Cuspide Rating
States Available: 8
AM Best Rating: N/A
Best for affordability
Kaiser Permanente is one of the leading health insurers in the United States. They are the largest non-profit healthcare organization. It sells individual and family plans (ACA/Obamacare) through the marketplace.
Kaiser is said to be the best health insurance in the marketplace by many. They offer HMO, EPO, and POS plans. Recent studies show them as having the most affordable plans out of all the companies.
PROS
- Great plans for all income brackets.
- Offers many plans that include dental and vision care.
- Large and strong provider network.
CONS
- Limited coverage of only 8 states.
UnitedHealthcare
Cuspide Rating
States Available: 22
AM Best Rating: A+
Highest quality plans
UnitedHealthcare is the largest health insurance company in the United States (in terms of revenue). They offer different types of plans to families, individuals, and employers. Inside the marketplace UHC offers the 4 types of health insurance plans available: HMO, EPO, PPO, and POS.
On top of this they have one of the largest networks of providers in the U.S. with over 1.5 million! This, as their many features and programs make them the leading insurers in terms of quality of plans.
PROS
- One of the largest provider networks in the U.S.
- Good NCQA rating.
- Has many plans that include dental and vision.
CONS
- Plans tend to be on the more expensive end with limited tiers available compared to others.
BlueCross & BlueShield
Cuspide Rating
States Available: 50
AM Best Rating: A+
Largest provider network
BlueCross and BlueShield are a sort of federation of different health insurance companies that all operate under the “BlueCross & BlueShield” brand name. Each of the companies are independent based on the state and may have slightly different names. Due to this structure that they have it makes them one of the best health insurance companies.
The BCBS association has the largest network of providers in the United States with over 1,700,000 doctors and hospitals contracted with them. They offer all types of plans available in the marketplace. In addition to the best quality, they also have many programs that members could benefit from.
PROS
- Coverage available in all 50 states.
- Largest provider network of doctors and hospitals.
- High quality plans.
- Many rewards and perks for their members.
CONS
- Different ratings depending on what state you are in.
- EPO plans are expensive.
Aetna
Cuspide Rating
States Available: 17
AM Best Rating: A
Best for rewards
Aetna or CVS Health is one of the more recognizable names in the health insurance marketplace. In 2018, Aetna was acquired by CVS and the merger made it one of the top insurance companies in the USA. This made it have a network of over 1.2 million doctors, hospitals, and clinics.
Aetna offers plans to individuals, families, employers, and government programs. Inside the marketplace they have all 4 types of plans for members to choose from. One of the best features is their rewards programs where you can earn cash prizes for things like doctor visits, screenings, checks, etc.
PROS
- Partnered with CSV Health allowing same day appointments + discounts.
- One of the lowest premiums in the whole ACA Marketplace.
- Good NCQA rating score.
CONS
- Limited to HMO plans.
- Complaints from customers is slightly higher than average.
Ambetter
Cuspide Rating
States Available: 29
AM Best Rating: B++
Lowest consumer complaints ratio
Ambetter is a health insurance company under “Centene Corporation” and has been offering health insurance plans since the 1980s. They have been offering HMO and EPO plans since the Obamacare marketplace opened and continue to do so.
Ambetter Health also has the lowest complaint ratio compared to other health insurance companies with a 0.32 (1 being standard). On top of that, just like some others, they also have cash prizes with their “myHealthPays” rewards program.
PROS
- Great rewards progam “myHealthPays” that offers cash prizes for its members.
- One of the lowest levels of complaints from customers.
- Many vision and dental plans to choose from.
CONS
- Not available in all states.
- Weak customer support system.
Cigna
Cuspide Rating
States Available: 14
AM Best Rating: A+
Lowest deductibles
Cigna is another insurance giant that offers many different health insurance plans to families, employers, and businesses. They have the 3 main types of plans in the marketplace which are HMO, EPO, and PPOs (depending on your state).
With a large network of over 1.5 million providers, members can relax knowing that they are covered. Cigna usually appears first as the company with the lowest deductibles in the ACA. Great for all income types.
PROS
- One of the lowest Silver plan rates in the nation.
- Aside from health, they have life insurance, dental, disability, and supplemental plans.
CONS
- Limited coverage of only 20 states.
Oscar
Cuspide Rating
States Available: 18
AM Best Rating: N/A
Best for user experience
Of all the companies on this list, Oscar Health is one of the youngest, being founded in just 2012. This does not stop them from being one of the leading providers with over 1 million members. They offer plans through the health insurance marketplace at competitive prices.
What really sets Oscar apart is their technology. They have the best user experience for their members with their elite mobile app and website. Telemedicine, virtual doctor visits, and more, all with Oscar through their digital platform.
PROS
- Virtual consultations and appointments.
- Offers HMO, EPO, and PPO plans.
- Best member portal.
CONS
- Complaint level from customers is higher than average.
- Low NCQA rating.
Molina Healthcare
Cuspide Rating
States Available: 20
AM Best Rating: B
Best provider network
Molina Healthcare is another titan in the health insurance marketplace. They only offer HMO plans but have one of the best networks of providers in the country. Aside from ACA plans they also sell Medicaid and Medicare Advantage plans.
Depending on what state you are in, many times Molina will appear as the most affordable option for individuals and families. Great flexibility of coverage and for all income types.
PROS
- Many low cost plans across different states.
- Offers Medicaid aside from ACA plans.
- One of the best provider networks in the nation.
CONS
- Limited coverage of only 20 states and government-sponsored programs.
- Only offers HMO plans.
Biggest health insurance companies in the U.S.
Below are some statistics on the top health insurance companies in Obamacare.
| Company | Number of members | Revenue (billions) |
|---|---|---|
| UnitedHealthcare | 45,900,000 | $371.6 |
| BlueCross & BlueShield | 114,000,000 | $214.8 |
| Kaiser Permanente | 12,600,000 | $100.8 |
| Cigna | 19,800,000 | $195.3 |
| Aetna | 22,100,000 | $60.6 |
| Ambetter (Centene) | 27,500,000 | $153.9 |
| Molina HealthCare | 5,100,000 | $38 |
| Oscar | 1,300,000 | $5.9 |
Total revenue: $1.13 trillion
Total members: 248,000,000
As you can see, the top health insurance companies featured on this list earn a combined $1.13 trillion a year and have over 248 million members! They currently insure around 75% of the U.S. population.
Best health insurance companies by categories
All the best companies in the marketplace all excel in different areas. Below we split them into categories so you can find out which one may be a better fit.
Biggest provider network: BlueCross & BlueShield
Best for affordability: Kaiser Permanente
Best for user experience: Oscar
Highest quality plans: UnitedHealthcare, Kaiser Permanente
Best provider network: Molina Healthcare, BlueCross & BlueShield
Lowest deductibles: Cigna
Lowest consumer complaints: Ambetter
Best for rewards: Aetna, Ambetter
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Best health insurance companies by state
It’s important to know that when dealing with companies under the ACA, they will be available per state and county. So, in some states some companies will not be available.
Below is a list of the top health insurance companies per state. It is measured by membership enrollments, with the most enrollments being the one that is chosen.
| State | Company |
|---|---|
Alabama | BlueCross & BlueShield of Alabama |
Alaska | Premera BlueCross |
Arizona | BlueCross & BlueShield of Arizona |
Arkansas | Arkansas BlueCross & BlueShield |
California | Kaiser Permanente |
Colorado | Kaiser Permanente |
Connecticut | Elevance Health (Anthem) |
Delaware | Highmark |
Georgia | Ambetter |
Hawaii | Hawaii Medical Service Assn. |
Idaho | BlueCross of Idaho |
Illinois | BlueCross & BlueShield of Illinois |
Indiana | Elevance Health (Anthem) |
Iowa | Wellmark |
Kansas | BlueCross & BlueShield of Kansas City |
Kentucky | Elevance Health (Anthem) |
Louisiana | BlueCross & BlueShield of Louisiana |
Maine | Elevance Health (Anthem) |
Maryland | CareFirst |
Massachusetts | BlueCross & BlueShield of Massachusetts |
Michigan | BlueCross & BlueShield of Michigan |
Minnesota | HealthPartners |
Mississippi | BlueCross & BlueShield of Mississippi |
Missouri | Elevance Health (Anthem) |
Montana | BlueCross & BlueShield of Montana |
Nebraska | BlueCross & BlueShield of Nebraska |
Nevada | UnitedHealthcare |
New Hampshire | Elevance Health (Anthem) |
New Jersey | Horizon BlueCross & BlueShield of New Jersey |
New Mexico | BlueCross & BlueShield of New Mexico |
New York | UnitedHealthcare |
North Carolina | BlueCross North Carolina |
North Dakota | BlueCross & BlueShield of North Dakota |
Ohio | Elevance Health (Anthem) |
Oklahoma | BlueCross & BlueShield of Oklahoma |
Oregon | Kaiser Permanente |
Pennsylvania | Highmark |
Rhode Island | BlueCross & BlueShield of Rhode Island |
South Carolina | BlueCross & BlueShield of South Carolina |
South Dakota | Wellmark |
Tennessee | BlueCross & BlueShield of Tennessee |
Texas | BlueCross & BlueShield of Texas |
Utah | Intermountain Healthcare |
Vermont | BlueCross & BlueShield of Vermont |
Virginia | Elevance Health (Anthem) |
Washington | Kaiser Permanente |
West Virginia | Highmark |
Wisconsin | University Health Care |
Wyoming | BlueCross & BlueShield of Wyoming |
As you can see, the BlueCross & BlueShield association is leading in terms of memberships per state (which includes Anthem) with 32 states being insured by BCBS.
As seen on the chart, all states will have different insurers, so even the “best” companies may not appear in certain states. To find out it is best to compare plans through the health insurance marketplace and see which company is in the area.
Cheapest health insurance companies of 2024
Many people choose plans based on how much they cost. While income, age, household size, and location are the main factors that decide price, you can still get an overall idea of how much each company costs. The list below is based on a 40-year old buying a silver plan.
| Company | Cuspide Rating | Cost |
|---|---|---|
| UnitedHealthcare | 4.3 | $528 |
| BlueCross & BlueShield | 4.6 | $520 |
| Kaiser Permanente | 4.5 | $460 |
| Cigna | 4 | $454 |
| Aetna | 4.1 | $435 |
| Ambetter | 3.7 | $445 |
| Molina Healthcare | 3.5 | $483 |
| Oscar | 3.7 | $438 |
The cheapest health insurance company in 2024 goes to Aetna and the most expensive plans will usually either be UnitedHealthcare or BlueCross & BlueShield. Keep in mind these are just averages and will change by state and county.
How to choose the best health insurance for you
When it comes to the “best” there are many factors that go into it. Things like plan types, tiers, providers, and location will all decide which one suits you best.
Start by finding out your needs. Why do you want health insurance? Some only need it for worst case scenarios while others may need to get frequent medical care. These 2 examples will shop differently and end up with plans that suit them.
Next, figure out your budget and how much you can spend. If you have a health insurance agent (recommended) then have them compare and look at deductibles, copays, out-of-pocket max, etc. These will help you narrow the search down.
Those are some steps you can take to try to take when choosing a health insurance plan.
Top health insurance companies FAQ
Have any specific questions on companies or health insurance? Contact Cuspide at (305) 970-8583.
What is the best health insurance company overall?
Many believe that Kaiser Permanente is the best health insurance company in the United States. However, just as good is BlueCross & BlueShield. Both companies are said to be the best in terms of customer satisfaction, affordability, and provider network. It all depends on your area and income as they are the determining factors on which plan will appear as the “best” in your area. The most accurate way would be to get a quote and compare options.
Which health insurance works in all 50 states?
The only health insurance company that works in all 50 states under Obamacare is BlueCross & BlueShield. This is because BCBS is an association of many companies all under the same umbrella. Depending on the states they will have different names but still be part of BCBS. Due to this it has the largest provider network with over 1,700,000 doctors and hospitals accepting BCBS.
What are the top 5 health insurance companies in the U.S.?
In the United States, the top 5 health insurance companies are Kaiser Permanente, BlueCross & BlueShield, UnitedHealthcare, Aetna, and Cigna. These have the best mix of affordability, benefits, and availability. They have also been around for a long time so there will be no issue with claims. However, since companies are different in every state, it is possible that the “best” one may not be available in your area. Always get a quote and compare plans near your area.
Next steps to take...
Remember that even though these are considered the best companies it does not mean that they will be available in your area. It is possible that none of these may appear near you and a completely different company will be there in place.
Try and figure out your needs, income, and household size, so that a quote is as accurate as possible, and you find the company that suits you best. Look at deductibles, copays, and calculate potential out-of-pocket expenses to see which plan is the best.
Lastly, make sure to research a little bit about the company. Find what people are saying, look at payout claims, the benefits, and costs, etc. Combining all of these will make sure that you get the right health insurance plan for you.
Cuspide got the information needed to make the list by looking at each companies’ revenues, market share, and official reviews from the National Committee for Quality Assurance (NCQA). On top of that, with years of experience from top agents in the field and reviewing customer satisfaction and reviews, we were able to appropriately credit each company with a star rating.
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