Essential Health Info

Largest Health Insurance Companies of 2021

Health insurance companies come in various sizes.  They are ranked according to their product line.  The insurance industry is made up of different types of players in different spaces (Hayes & Investopedia, 2021).  For example, insurance companies can be formed as a traditional stock company with outside investors, or have mutual companies with policyholders as the owners (2021).   Interestingly enough, the United States government is the largest health insurance provider through the Medicare program, Social Security, and Medicaid administered by individual states (2021).  However, did you know there are an estimated 1,000 insurance companies in the U.S. today?  Therefore, the top four insurance companies in 2021 are United Health, CVS, Anthem, and Cigna.

The Health Insurance Market

When looking at the top four largest insurance companies, they represent 44% of the total market share in the industry (Price, 2021).  A market share is the percentage of the total revenue (sales) from the insurance company’s business in a market (Hayes & Investopedia, 2021).  Not to mention, a market share represents a portion of the health insurance industry that a specific company controls.  This shows how many policyholders a company can reach.  Similar, did you know companies with large market capitalizations experience steady growth and offer the least amount of risk (2021)?  A market capitalization (cap) is the total value of a company’s stock.

Furthermore, an insurance provider is defined by the number of members known as covered lives.  It is defined by the number value representing individuals who have enrolled in an insurance plan with that provider (Price, 2021).  Now, let’s take a look at our top four largest insurance companies in the U.S. today.

United Health Care

Starting out with 70 million members, this insurance provider offers several benefits that cover various families, individuals, and employers (organizations) (2021).  Not to mention, you have access to purchase any of their plans in all fifty states.  Furthermore, their best feature is offering a vast network of 1.3 million physicians and health care professionals with more than 6,000 hospitals (2021).  In short, you have several options to choose from when it comes to seeking care.

What makes this insurance company a top provider is their various members and revenue valued at $393 billion in 2021 (Hayes & Investopedia, 2021).


In 2018, CVS Health Corp. obtained Aetna and integrated their networks with Aetna’s membership base (Price, 2021).  Moreover, Aetna was founded in 1853 and provides insurance to employers and their employees in the marketplace with 22.1 million members (2021).  However since 2015, Aetna not longer remains under the Affordable Care Act (2021).

Their revenue for 2021 is $106 billion (Hayes & Investopedia, 2021).


Have you heard of Blue Cross Blue Shield Association (BCBS)?  Then you have heard of this insurance company.  Labeled as a licensee, Anthem is the insurance provider that you are buying from if you have BCBS insurance (Price, 2021).  Coming in with 40 million members, this provider offers network care to small and large businesses, as well as, individuals, Medicaid, and Medicare markets (2021).  Not to mention, it is offered in all fifty states.

According to statistics, their revenue value is $96 billion in 2021 (Hayes & Investopedia, 2021).


Coming in at 20.4 million members, Cigna offers health insurance throughout the world (Price, 2021).  Some of its best features are offering dental, behavioral health, vision, supplemental health, and Medicare/Medicaid retirement benefits (2021).  Their market capitalization landed around $80 billion in 2021 (Hayes & Investopedia, 2021).

This provider is offered in 10 states such as California, Arizona, Florida, Colorado, Missouri, Maryland, North Carolina, South Carolina, Tennessee, and Texas.


Is knowing the revenue of each top health insurance company important to consumers?  Yes, because each health insurance company’s statistics show us a positive correlation between revenue and it’s potential for significant growth.

Remember, you do not have to own shares to be an investor.  Becoming a policyholder from an insurance company is the same as being an investor.  Therefore, you are taking a risk by paying for the company’s coverage.  Understanding Insurance Coverage is an article that reviews the fundamentals of coverage and may help you better understand how everything works.  In the end, taking a risk by buying health insurance is a good and long-term investment for your life.

Article Resources 

Hayes, A. H. & Investopedia. (2021, July 14). Top Insurance Companies. Investopedia.

Price, S. (2021, August 31). Largest Health Insurance Companies of 2021. ValuePenguin.



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