How do I find the best rated health insurance companies?
There are many companies dedicated to researching and compiling statistics on several of the best health insurance companies. They use this data to provide consumers with lists of which companies scored the highest. These websites devise their own rating system so each website will have a unique list.
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While these lists can be a useful tool when shopping for insurance, they should not be the only thing you look at. Companies must be licensed by your state to sell health insurance there. If a company is not licensed then you will have no protection if a problem arises later.
You also need consider your individual needs. Look at the health insurance benefits the company offers, the types of plans available, and how much their policy will cost. Compare plans from several companies to insure you get the best policy available.
What are the best rated health insurance companies?
One of the most trusted names in health care reform is the National Committee for Quality Assurance (NCQA). They are a nonprofit organization created to improve the quality of health care by working with doctors, facilities, insurance companies, and consumers.
In July they published their current list of rankings for 380 health insurance companies. The top ten health insurance companies according to NCQA are as follows:
- Harvard Pilgrim Health Care
- Tufts Associated Health Maintenance Organization
- Capital Health Plan
- Tufts Health Plan
- Harvard Pilgrim Health Care of New England
- Kaiser Foundation Health Plan of Colorado
- Group Health Cooperative of South Central Wisconsin
- singer Health Plan
- Harvard Pilgrim Health Care
- Health New England
Another resource for finding health insurance companies rankings is J.D. Power and Associates. They have broken their list down into regions. J.D. Power uses consumer feedback on satisfaction to devise their ratings.
How can I research a health insurance company to find the best one available to me?
There are many ways to research specific health insurance companies. When shopping for a new health insurance policy your first step should be to contact your state’s Department of Insurance. They can provide you with a list of every company licensed to sell health insurance policies in your state along with what types of plans they sell. They may also provide you with data on how many complaints the company has received from other consumers in your state.
Some states also have a nonprofit organization that publishes an annual report card on health insurance companies and the types of policies they sell. One example is California’s Office of the Patient Advocate. They provide a rating breakdown based on the type of plan. You can choose to look at companies that offer HMO, PPO, Medicare and more.
Another great tool for researching individual health insurance companies is the Better Business Bureau. They allow consumers to verify if a business is accredited with them and how long they have been in business. Their website also provides contact information and a breakdown of complaints filed with the BBB about a company.
What are the best rated health insurance policies?
There is more to finding the best health insurance policy than choosing the best company. Many companies write several different types of policies including indemnity, managed care, and supplemental plans. A company may receive a high ranking for their HMO plans but a low score for their PPOs.
Before you choose a company you need to decide what type of health insurance options will suit your needs best. You need to look at what types of coverage these plans include and how much you will have in out of pocket costs. This can include things like copayments, deductibles, and services that are not covered.
It is helpful to make a list of medical services you have used in the past year. Also write down any coverage you may need in the near future such as maternity benefits. If you have a family, look at their current and future needs as well. This will be a useful tool when looking at what coverage policies offer.
Managed care plans such as HMOs and PPOs usually have the lowest premiums but tend to have very strict rules for receiving treatments. Your plan will have a set list of doctors you can choose from. It may not cover out of network health care providers.
Indemnity, or fee for service, plans have much more flexibility. You will pay a set portion of care but can choose any doctor, facility, or specialist you want. These plans have higher than average premiums. The best health insurance plans fit your needs.
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