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Largest Health Insurance Payers in the United States

The Affordable Care Act has been a divisive policy for the public and politicians, but since 2010 it has been a financial advantage for the top five giants of the health insurance payer industry.

The growing customer base created by the ACA, along with higher returns for investors, has pushed revenues and membership for the ‘Big Five’ to year after year gains.

Even though few healthcare payers are pulling out of the state exchanges, others have made plans to grow into new ones, or even into verticals such as dental, government, pharmacy and global.

Here is a list of the largest health insurance payers in the USA:


Anthem, Inc. is an American health insurance company founded in the 1940s which was known as WellPoint, Inc. prior to 2014. It is the largest for-profit managed health care company in the Blue Cross and Blue Shield Association.

NYSE: US$ 276.44

Anthem Inc. acquires Health Sun, one of the fastest-growing integrated Medicare Advantage health plans and health care delivery networks in Florida.

“Our first quarter 2019 results represent a strong start to the year. We reported significant growth in our risk-based membership and improved the penetration of our clinical and specialty services, demonstrating that our value proposition is resonating across our markets,” said Gail K. Boudreaux, President and CEO. “Looking ahead, the upcoming launch of IngenioRx is a key milestone in the realization of our vision and strategy. With IngenioRx, we finally have a strong integrated pharmacy and medical platform, one that is predicated on providing the lowest absolute cost of care, and we are well positioned for accelerated growth.”



UnitedHealth Group Inc. is an American for-profit managed health care company based in Minnetonka, Minnesota. As of 2018, it is ranked #5 on the Fortune 500 rankings of the largest United States corporations by total revenue. UnitedHealth Group offers health care products and insurance services.

NYSE: US$ 236.56

A new screening program available to eligible Medicare and Medicaid patients of Waianae Coast Comprehensive Health Center, Kalihi-Palama Health Center and The Queen’s Medical Centers aims to address critical gaps between clinical care and social services. Funded by a five-year, $4.5 million award from the Centers for Medicare & Medicaid Services (CMS) to UnitedHealthcare, in partnership with the Hawaii State Department of Human Services, the Accountable Health Communities (AHC) model was created by CMS’ Center for Medicare and Medicaid Innovation (CMMI).

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Humana Inc. is a for-profit American health insurance company based in Louisville, Kentucky. As of 2014 Humana had over 13 million customers in the U.S., reported 2013 revenue of US$41.3 billion, and had 51,600 employees.

NYSE: US$ 250.32

Humana (HUM) is the third-largest health insurance provider in the US. With headquarters in Louisville, Kentucky, Humana has over 13 million customers in the US. Humana is 73rd in Fortune 500 rankings and is thought to be the highest-ranked company in Kentucky.



Cigna is an American worldwide health services organization based in suburban Bloomfield, Connecticut and Philadelphia, Pennsylvania.

NYSE: US$ 150.41

Bridges Health Partners LLC, a Clinically Integrated Network, and Cigna (NYSE:CI) have entered into a Collaborative Accountable Care Agreement for Cigna commercial customers in Western Pennsylvania. The agreement becomes effective July 1, 2019 and will make it easier for Bridges Health Partners LLC doctors to proactively help Cigna customers achieve better health.


Have you done with your credentialing with these insurance payers? Not yet. No worries. We at Medisys will help you to do credentialing support. Reach out to our medical billing manager at

Net revenue data was collected from the Wikipedia. Current NYSE data referred from Morningstar.

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