Top Small Business Health Insurance Companies in US

You probably want to find out how to get group coverage at the cheapest price as a small business owner searching for the best small business health insurance companies in the US. Although there are many health insurance options available, we completed the initial research and identified the top insurance companies for small business owners for you.

• Financial stability

The financial strength rating is established using the insurance company's AM. Best possible rating for financial stability. The ability of an insurer to meet ongoing obligations is rated by best, a credit rating agency that specializes in the insurance industry.

• Client satisfaction

The ratings of an insurer from the National Council for Quality Assurance (NCQA), The Better Business Bureau (BBB), and Consumer Affairs are taken into consideration when calculating the customer satisfaction rating. These ratings are created using customer complaints and satisfaction scores.

• Value

The value rating determines the overall worth of an insurer based on monthly premiums and out-of-pocket costs.

• Insurance

When calculating the coverage rating, the insurer's coverage options, plan options, and network size are taken into consideration.

The below list of best small business health insurance companies in US is a useful place to start if you're a business owner researching different options for your company:

Humana

Humana has provided high-quality health insurance coverage. Being one of the top insurers in the nation, it offers workplace plans in each of the 50 states.

It provides straightforward, affordable small-business group health insurance plans that are suitable for organizations with 2 to 99 employees. Humana also offers services to businesses employing more than 100 individuals.

What is covered by Humana?

• HMO
• Dental
• PPO
• Pharmacy
• Vision

Pros

• It can improve the coverage for life, dental, and vision insurance
• Offers a variety of options nationwide
• Various HMO and PPO policies

Cons

• Some plans aren't offered in specific states

Cigna

Cigna, a supplier of global health services, works with medical experts to provide people, families, and businesses with access to high-quality, reasonably priced care.

It offers small business owners a variety of reasonably priced HMO and PPO medical insurance options.

To improve your overall benefits package, policies could be combined with flexible spending accounts, health savings accounts, high-deductible health arrangements, and other things.

Before selecting Cigna as your small business health insurance company in US, be aware of its restrictions because it only offers plans in 10 states.

What is covered by Cigna?

• Supplement plans
• Dental
• Health reimbursement arrangement (HRA)
• PPO
• HMO
• Health savings account (HSA)
• Flexible savings account (FSA)
• Pharmacy

Pros

• Provides a variety of medical plans
• Using a variety of add-on insurance
• High levels of satisfaction

Cons

• There is just coverage for ten states

Kaiser Permanente

It is among the largest managed-care organizations and nonprofit health plans in the nation. Kaiser Permanente provides insurance for large corporations as well as small businesses in California and Colorado with 2 to 50 or 2 to 100 employees.

It provides universal health insurance for enterprises of all sizes and specialty treatments, such as chiropractic, acupuncture, vision care, and dentistry, at discounted rates.

What is covered by Kaiser Permanente?

• HMO
• PPO
• Point-of-service (POS)
• Dental
• HRA
• Vision

Pros

• Specialty services at a reduced price
• You have the freedom to switch doctors at any time
• Several preventative healthcare interventions are provided without charge

Cons

• Only available in eight states
• Providers in a closed network
• The laws governing small businesses differ between California and Colorado

UnitedHealthcare (UHC)

UnitedHealthcare has provided health insurance to individuals, families, and employers since its foundation in 1977.

With the exception of New York, its extensive selection of insurance plans fits practically all criteria, including group health insurance plans for small business owners.

Companies can choose from a variety of PPOs, HMOs, and high-deductible health plans, some of which include tiered pharmacy benefit options.

Small business owners can also split the cost of life, dental, and vision insurance or provide benefits that are covered by the employees.

What is covered by UHC?

• HMO
• Dental
• Vision
• Pharmacy
• High Deductible Health Plans
• PPO

Pros

• Extensive choices for group health
• A vast network of service providers
• Extra benefits for workers

Cons

• There is no insurance in New York State
• Not all places have access to the same programs

Aetna

Aetna, one of the oldest and most well-known insurers in the country, provides a selection of employment plans.

Aetna offers flexible, complete, and affordable small-business health insurance options. Among the small-business group health insurance policies that Aetna provides are the Health maintenance organization (HMO), indemnity, exclusive provider organization (EPO), preferred provider organization (PPO), and stop-loss options.

What is covered by Aetna?

• Dental
• HMO
• Pharmacy
• Vision
• Indemnity
• EPO
• Stop loss
• PPO
• Supplemental

Pros

• Plans are available in all states
• Many types of medical policies for businesses
• Bundled benefits to reduce costs

Cons

• Some plans include exclusions and limitations in specific states
• Not all states provide all forms of coverage

Blue Cross Blue Shield (BCBS)

Blue Cross Blue Shield has provided trustworthy health insurance since 1929. Its plans are available in all 50 states, but not all of them are available in all state, and local agencies charge various rates and offer varied coverage.

The majority of healthcare providers accept BCBS insurance plans, and BCBS has extensive national networks.

What is covered by BCBS?

• PPO
• HMO
• Dental
• Vision
• High-deductible health plans

Pros

• Provides protection in all 50 states
• Nearly all healthcare providers accept BCBS

Cons

• Several regional groups have different costs and coverage
• Not all states provide particular insurance plans

Anthem

Anthem provides a wide range of integrated healthcare plans for individuals, families, and businesses in 25 states.

Anthem offers a comprehensive selection of PPOs, HMOs, and high-deductible health plans for both small businesses with 2 to 50 employees and large corporations with 51 or more.

It has one of the largest provider networks in the country. Businesses can pair a variety of health plans with pharmacy benefits, and you can also get affordable vision, dentistry, and supplemental insurance.

What is covered by Anthem?

• Dental
• Supplement plans
• HMO
• High-deductible health plans
• PPO
• Vision

Pros

• Plans are accessible in 25 states
• There are various alternatives for additional coverage
• Large provider network

Cons

• Plans offered by subsidiaries are different
• Achieving an "F" on the BBB rating
• The laws governing business plans vary in Colorado

Final Word

Small business health insurance helps organizations offer employees more affordable access to medical insurance. As many organization employees typically enroll in this group insurance, lower costs or better coverage benefit all parties.