Archive for the ‘Cheap Insurance Companies’ Category.

There’s no way around it – at a point in nearly everyone’s life, there comes a need for medical care. Unfortunately, medicine and its practices come at a high cost, and insurance is a good form of assistance in paying those costs. With so many providers available, it can be tough to decide which one is right for you. These health insurance companies have received the most business and heaviest volume of customers in 2011 so far.

Aetna

Aetna is one of the most popular insurance companies in the nation, serving over 30 million Americans. They provide HMOs, PPOs, and point of service plans, as well as dental, vision, and behavioral health options to their customers. Over 15 million people subscribe to their health plans, while their dental plan boasts 13 million members and their pharmacy plan serves over 10 million people.

Blue Cross and Blue Shield 

Blue Cross and Blue Shield is one of the largest and most recognizable insurance companies today, serving over 90 million customers as well as being responsible for administering Medicaid plans for the federal government in independent and locally operated facilities. They provide HMOs, PPOs, point of service, and fee for service plans as well as indemnity insurance and more specialized plans to individuals and families, spanning over 40 chapters nationwide.

CIGNA

CIGNA provides over 9 million people with insurance, not only catering to those who are looking for health insurance but also providing group accident, life, and disability insurance. Through their medical insurance programs catered to both individuals and employers, they have plans for PPO, HMO, POS, indemnity insurance, and consumer-directed products. CIGNA provides insurance internationally as well, and they also support Medicaid.

United Health Group

United Health Group, known as the second largest insurance provider today, offers HMOs, PPOs, and POS as well as assistance for Medicaid and Medicare recipients through six different businesses. United Health Group looks to provide assistance at all levels of care. They also prove health plans for large companies and have a branch for clinical research and drug marketing services. United Health Group provides insurance to over 75 million people all over the world.

Wellpoint

As the largest health care insurance company in the United States, Wellpoint provides insurance to over 34 million members in the country. In fact, one in nine Americans is insured through Wellpoint.They are affiliated with Blue Cross and Blue Shield and are sometimes known as Unicare. They provide a wide variety of medical plans to employers as well as individuals and are able to insure those with Medicare and Medicaid assistance.

Medical expenses can be extremely pricy, and in the case of an accident or an emergency, many people are left blindsided, unable to pay their medical bills. Having a good health insurance plan is the best way to avoid falling on financial hardship should an unexpected injury or illness occur, and these are just some of the many popular and reputable insurance providers available today.

When people say they want to deal with a cheap insurance company, what they really mean is a company that will sell them solid, comprehensive insurance at an affordable rate, and then will pay promptly and fairly when claims are filed.

The standard wisdom insurance customers can read time and time again is “comparison shop for rates.” The advice is true. The best way to get cheap insurance is to base your selection on multiple rate quotes. But most people fail to take their research to the next level.

Research Insurers Through Your State’s Insurance Regulatory Agency

Every state has an insurance bureau, department, or division charged with regulating insurers operating in the state’s borders, as well as investigating questionable business behavior on their part, and even approving rate increases. These agencies maintain websites where consumers can investigate individual insurance companies and even learn about ongoing insurance fraud.

For instance, in Florida, a state historically plagued with insurance controversies, the Florida Office of Insurance Regulation maintains a website at floir.com. Consumers can use the “Public Records Request” to discover information on insurance companies and even specific agents. On a broader level, A.M. Best at ambest.com provides ratings on the financial strength of insurance companies worldwide with easily accessible online tools. Best has been a full-service credit rating entity for the insurance industry since 1899.

Good Companies Offer Low Premium Rates, Comprehensive Coverage, and Financial Stability

You want and need to know if the company has a solid reputation for customer relations, and if they are financially solvent. An insurer who has money problems isn’t going to readily pay benefits when you file a claim, which is not the answer you want to hear when you’re desperate for cash after your home and belongings have been destroyed in a fire or natural disaster.

The best “cheap” insurance company is the one that gives you the correct balance of a low premium rate, high customer service, and solid financial standing. Given the highly competitive nature of the business, with insurers aggressively going after home, life, and auto insurance customers, finding a good rate isn’t as hard as you might think. Finding a solid insurance company is a different matter.

Insurance Companies Offering the Cheapest Rates Are Also Willing to Negotiate

While harder to evaluate in the beginning of a business relationship, flexibility and a willingness to negotiate are also desirable traits in an insurer. Ask about potential discounts for things like buying all your policies from the one company or receiving your bills and other communications electronically. In some cases insurers will grant lower rates based on profession or military service. If a company is not willing to discuss discounts with you, it could be a sign of inflexibility when it comes to claims settlement as well.

Shopping for a cheap insurance rate is not the only part of finding affordable premiums and having a satisfactory business relationship with an insurance company. Take the time to find out something about the insurer’s financial stability and reputation for customer service to cultivate not only an inexpensive, but workable insurance arrangement.