HEALTHCARE INSURANCE COMPANIES
Healthcare Insurance Companies
Healthcare insurance has over the recent years tremendously grown into a billion-dollar industry. A number of them are specialized to particular demographics whereas others target the general public. However, almost the entire of these companies tries their best to offer their best in the provision of quality health care. Among the renowned companies involved in health insurance include: WellPoint, Inc., UnitedHealth Group, and CIGNA Corporation (Raffel & Barsukiewicz, 2002).
WellPoint, Inc. is the largest health insurer in the nation. Thus via its subsidiaries, it usually provides a wide variety of health coverage, mainly under the Blue Shield and Blue Cross name. WellPoint also provides various plans under the name of Unicare to other places in the country (Sultz & Young, 2010). WellPoint also enables the offer of a wide range of healthcare plans to individuals, employers, as well as the recipients of Medicaid and Medicare. It usually offers an array of plans to self-funded or company insured clients who benefits from the various products and services offered by the company (Top 10 of Health Insurance Companies and Profile, 3).
Upon the charging of premium charges to the company it usually assumes all their health risks. Moreover, there is a co-pay required when services are offered. In addition the company also ensures that the cost of coverage to individuals and families is varied so as to take care of the needs of all their clients. WellPoint, Inc. also falls under various managed healthcare which include the preferred provider organizations, point-of-service plans, health maintenance organizations as well as the traditional indemnity plans (Raffel & Barsukiewicz, 2002).
The UnitedHealth Group also offers a variety of health care services and plans. This group has two segments whereby one handle large companies health plans, where it offers specialized plans for dental and vision care whereas the other segment is involved in the providing health information consultation as well as publishing, together drug marketing and clinical research. Their coverage is usually determined by the clients heath condition based on the evidence acquired through the evaluation of the benefits and risks involved (Sultz & Young, 2010). There are also co-pay that are paid upon the visit to the hospital to cover for administrative costs. The individual or family cost involved depends on the coverage chosen thus varied according to the client’s needs. They fall under the following managed healthcare preferred provider organizations and the traditional indemnity plans (Top 10 of Health Insurance Companies and Profile, 4).
The CIGNA Corporation is also among the top health insurers in the US, CIGNA covers a commendable number of people under various medical plans. CIGNA Corporation also provides a wide variety of health care coverage plans such as the dental, pharmacy, vision and behavioral health. However, the company usually cover both individuals and families depending on their health requirements (Raffel & Barsukiewicz, 2002). For instance, the higher the needs the higher the coverage cost. It however consists of both employer and self-insured individuals whereby the premiums may cover both the individual and his or her family. There is also a co-pay that is usually paid by the clients (Top 10 of Health Insurance Companies and Profile, 3). Moreover, the CIGNA Corporation belongs to the following managed health care plans preferred provider organizations, point-of-service plans, health maintenance organizations as well as the traditional indemnity plans.
There are various reasons as to why people who are not covered by the Medicaid and Medicare should join health care insurance companies mainly because they involve paying small installments which would cover you and your family in case a medical need arises (Sultz & Young, 2010). However, the prices are still very high and there is need to bring them down so that they can be affordable. Thus as citizens we can achieve this through mobilization and sensitization leading to advocacy on introduction of cost controls which would go a long way in protecting the people from exploitation by health insurance companies.
Raffel, M.W. & Barsukiewicz, C.K. (2002). The U.S. Health System: Origins and Functions. 5th ed. Albany, NY: Delmar
Sultz, H.A. & Young, K.M. (2010). Health care USA: Understanding Its Organization and Delivery. 7th ed. Sudburry, MA: Jones & Bartlett Learning
Top 10 of Health Insurance Companies and Profile. Available at: http://commonhealthinsurancefacts.com/top-10-of-health-insurance-companies-and-profile/ [Accessed April 9, 2011].