The Best Affordable Health Insurance Companies 2023

Updated: November 17, 2022
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We compared some of the best health insurance companies in 2023 on the federal & state health insurance exchanges in order to identify the top health insurance provider. We looked at dental insurance options, plan benefits, plan types, availability across states, National Committee for Quality Assurance (NCQA) ratings, and costs, including copays, premiums, and deductibles. Individual insurance shopping can seem complicated. Although the Affordable Care Act (ACA) standardized several aspects of health insurance, there may still be differences in terms of quality and cost.

Best Health Insurance Companies: What You Should Know About?

Affordable is spending no more than 9.5% of the household’s income Your premium cannot exceed 9.5% of your household income if you are enrolled in a group employer plan. That excludes your spouse and any dependents.
You might be eligible for government assistance You might be eligible for a subsidy through the Health Insurance Marketplace, which would lower the price of your monthly premiums. The Children’s Health Insurance Program or Medicaid may be available to you depending on your earnings and demographics (CHIP). You may be qualified to receive Medicaid if you are 65 or older or have a qualifying disability.
The Health Insurance Marketplace accepts applications from everyone If you’re looking for individual plans, you need to apply for Medicaid, or you would like to compare your options with what your company offers, the Health Insurance Marketplace is where you can get affordable insurance.

Best Health Insurance Companies of 2023

There are numerous options for cheaper medical insurance. Medicare, Medicaid, your company, the Affordable Care Act’s Health Insurance Marketplace, and other programs are among them. In many states, there are statewide marketplaces. Picking the right healthcare plan is a significant choice that influences your financial status and overall health. Take a moment to study and evaluate the benefits of several programs to decide which one is best for you.

Best Company Name Their Ratings
  • Aetna/CVS Health
3.7 star
  • Oscar
4.4 star
  • Blue Cross Blue Shield (BCBS)
4.7 star
  • Kaiser Permanente
4.1 star
3.7 star

Best Health Insurance Companies: Aetna/CVS Health

One of the biggest and oldest top supplemental insurance companies of health insurance is Aetna. It was established in 1853, and in 1951 it began offering health coverage. In all 50 states, Aetna provides insurance coverage. Group, Individual, Medicare, & Medicare Advantage plans are one of them. Aetna is one of the popular and most accessible health insurance providers in the nation and offers superb customer service.

What Do Aetna/CVS Health Plans Cover?

Several types of health insurance are available from Aetna Health:

  • Family health plans
  • Pharmacy
  • Individual health plans
  • Medicaid
  • Dental
  • Vision
  • Medicare

Pros & Cons

Pros

Cons

  • 50 states offer it
  • Subscriptions are not accessible countrywide.
  • Excellent ratings for service and care
  • Numerous plans are available, including preferred provider organizations (PPO), and health maintenance organizations (HMO), exclusive provider organizations (EPO), & point-of-service (POS)
  • Ratings for prevention may be higher.
  • Higher fees when using an outside provider

Why We Selected “Aetna/CVS Health” As the Best Company For 2023

People who prefer the ease of receiving medical treatment at a CVS MinuteClinic should consider Aetna, which offers health insurance plans through CVS. Members of Aetna enjoy 24/7 access to walk-in appointments and virtual therapy at more than 1,100 MinuteClinic locations across the US. 

With your Aetna health insurance plan, you can visit MinuteClinic for free preventative care and virtual treatment. Naturally, if you have an Aetna plan, you can receive medical treatment from places other than CVS clinics. 

Plan categories include HMO, EPO, PPO, and HMO-POS, & coverage is divided into gold, silver, bronze, and metal grades. The NCQA gave the company’s plans an average grade of 3.37 stars, which is above average and places it in the center of the pack among the businesses we looked into. 

For both children and adults, Aetna’s plans do not offer dental care. The Marketplace plans from Aetna are also not offered everywhere, so not everyone can access them.

Best Health Insurance Companies: Oscar

Oscar Health was established in 2012 and has since risen to the position of third-largest for-profit national provider in the American individual market. Oscar Health offers coverage for three major health insurance markets: group, Medicare Advantage, and family and individual. 

Oscar Health asserts that it approaches a provider network differently from other insurance carriers. The health insurance claims that in certain cities, including New York, San Antonio, and San Francisco, its networks are “curated,” offering “a portfolio of treatment possibilities equal to a broad network. But delivering cost savings, clinical synergies, and quality results of a small network.”

What Do Oscar Plans Cover?

A variety of individual and group health insurance plans are available from Oscar.

  • Wellness and health initiatives
  • Health insurance for groups (HMO, PPO, Open Access, customized local plans, & high-deductible health plans)
  • vision and dental insurance
  • Insurance for families and individuals 
  • accounts for saving and spending (HSA, FSA)
  • Additional plans
  • Pharmacy programs

Pros & Cons

Pros

Cons

  • Among leading providers, silver and bronze plan premiums are the cheapest options
  • Poor customer reviews
  • Offers the most fantastic programs for health management
  • Copayments to doctors are not required.
  • Free virtual care for urgent conditions within minutes

Why We Selected “Oscar” As the Best Company For 2023

The plans offered by Oscar are the most affordable of all the health insurance providers we looked at. There are no physician copays for many of Oscar’s silver and bronze health insurance plans, and specialist copays can be as little as $40. Across the tested ZIP areas, Oscar also has the most affordable rates for the silver and bronze plans from the top-rated health insurance company or suppliers. 

Oscar has a broad variety of layouts and metal levels together with great pricing. PPO, HMO, and EPO are your options, and plans on the Health Insurance Marketplace or your state exchange are offered in gold, silver, bronze, and catastrophic categories. 

Additionally, Oscar provides all healthcare.gov health management programs, including those for depression, diabetes, low back pain, pregnancy, asthma, low back pain, and pain management. However, Oscar does not offer adult dental insurance. Urgent problems can be treated for free virtually, and children can get dental insurance. 

The biggest drawback is that Oscar’s strategies generally receive poor ratings for overall quality. It has the lowest average NCQA plan rating for any of the carriers listed here, at 2.75 out of 5. Even worse, healthcare.gov only gave the company’s plans a 2-star grade.

best health insurance companies

Best Health Insurance Companies: Blue Cross Blue Shield (BCBS)

One of the most significant top-rated health insurance companies serving all 50 states is Blue Cross Blue Shield. The fact that Blue Cross Blue Shield is a partnership of 35 independent businesses is one of its unique characteristics. Although this implies that service quality varies from location to location, BSBC’s price plans, features, and discounts are often among the greatest.

What Do Blue Cross Blue Shield (BCBS) Health Plans Cover?

A variety of individual and group health insurance plans are available from Blue Cross Blue Shield (BCBS)

  • Medicaid
  • Corporate health insurance
  • High-deductible health insurance
  • Group insurance plans
  • HSAs
  • Dental Insurance
  • Medicare
  • Individual health insurance

Pros & Cons

Pros

Cons

  • offered in all 50 states
  • operate a large number of independent organizations
  • fantastic provider network
  • poor customer experience
  • has more than 110 million American clients

Why We Selected “Blue Cross Blue Shield (BCBS)” As the Best Company For 2023

Blue Cross Blue Shield (BCBS) is our #1 suggestion if you’re seeking for the most fantastic top private insurance companies overall. The NCQA has given BCBS plans an overall high rating of 3.74 out of 5. Among the businesses we analyzed, that score is the second-highest. 

The company provides a wide range of health insurance plans, including HMOs (health maintenance organizations), EPOs (exclusive provider organizations), point-of-service (POS) plans, PPOs (preferred provider organizations), and PPOs (health maintenance organizations). 

It also provides dental insurance for both adults and children. It gives gold, silver, bronze, platinum, and catastrophic plan on state exchanges and in the Health Insurance Marketplaces. 

In some locations, you can receive free telehealth visits whenever you need them, and exchange plans provide programs for managing asthma, heart disease, diabetes, high blood pressure, pain, and depression. Although BCBS offers marketplace plans in some areas, it does not sell insurance products statewide, which is a downside. 

Additionally, because its plans are offered through 34 local businesses, customer service, quality, plan accessibility, and feature availability can vary greatly depending on where you live.

Kaiser Permanente

One of the most prominent nonprofit medical insurance companies is Kaiser Permanente. During Second World War, it was established at the shipyards in 1945. Its prepaid strategy, which paid for medical facilities and staff, was the key to its success. With its vast hospital and physician network, this strategy is still influential today. Thus, the costs are reasonable but the quality of the services is excellent.

What Do Kaiser Permanente Plans Cover?

Several types of health insurance are available from Kaiser Permanente

  • Individual health plans
  • Employer plans
  • Medicaid/Medi-Cal
  • Family health plans
  • Medicare

Pros & Cons

Pros

Cons

  • Several plans offer children’s dental insurance.
  • No dental coverage for adults
  • The plans we assessed received the highest NCQA scores.
  • Few types of health plans are accessible.
  • Most plans provide no-cost video and telephone consultations.
  • Plans available in just eight states
  • Outstanding rating from healthcare.gov
          –

Why We Selected “Kaiser Permanente” As the Best Company For 2023

In comparison to the other six businesses on this list, Kaiser Permanente gets the highest quality scores. The company had the highest average NCQA rating of all of the businesses we studied, 4.28 out of 5, for its plans. Kaiser Permanente excels in the areas of member experience, medical treatment, and plan administration because it is the only provider whose plans we reviewed had pristine 5-star ratings from healthcare.gov. 

Additionally, the business won the J.D. Power 2022 U.S. Commercial Member Health Plan Study in many different locations. We also appreciate that most plans include free phone and video appointments. 

There are only so many different plan alternatives outside of all that, though. Most Kaiser Permanente’s policies are HMOs, so only in-network good health insurance companies are permitted. 

However, there are other coverage levels available for ACA programs, including minimal coverage, gold, silver, bronze, and platinum. Kaiser might be better if you want dental insurance for your entire family. Some plans cover children’s dental costs, but none cover adult dentistry. In addition, only eight states, plus the District of Columbia, provide health plans sold by Kaiser Permanente.

UnitedHealthcare (UHC)

The most prominent provider is UnitedHealthcare, established in 1977 and holding a 14% market share. It has an extensive network of doctors, hospitals, and healthcare providers and provides a wide selection of cost-effective health insurance products. Despite having high premiums, UnitedHealthcare provides extras like travel insurance, video consultations, and online tools for people and group contracts.

What Do UnitedHealthcare (UHC) Plans Cover?

Several types of health insurance are available from UnitedHealthcare (UHC)

  • Self-employed plans
  • Student plans
  • Marketplace plans
  • Family health plans
  • Dental
  • Medicare
  • Individual health plans
  • Short-term/TriTerm Insurance
  • Employer plans
  • Supplemental
  • Vision
  • Medicaid

Pros & Cons

Pros

Cons

  • Great applications and a website
  • Deductibles may be substantial.
  • significant provider network
  • significantly more expensive than those offered by other insurers
  • Various plans are available.

Why We Selected “UnitedHealthcare (UHC)” As the Best Company For 2023

Having financial solid status, UnitedHealthcare is a reliable health insurance company. It gets an A+ (Superior) ranking from AM Best, the highest rating of the businesses we analyzed and the second-highest score obtainable. 

The company provides coverage throughout all 50 states along with Washington, D.C., although marketplace plans are only offered in some places. In addition to providing dental treatment for adults and children on some plans, short-term insurance, student insurance, and coverage for independent contractors are just a few of the wonderful alternatives that UnitedHealthcare has to offer for satisfying various needs. 

However, there are better popular health insurance companies than UnitedHealthcare for you if you require a PPO plan. Typically, only HMO & EPO programs are available. Additionally, it does not have any health management programs for specific medical disorders. 

And among the businesses for which we requested quotes, the company’s rates are among the highest. Another word of caution: J.D. Power rates UnitedHealthcare’s overall customer satisfaction as below average in several regions, which suggests there may be problems with things like contact center interactions as well as billing.

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