5 Best Supplemental Insurance Companies Heading into 2024

In this article, we will take a look at the 5 best supplemental insurance companies heading into 2024. To read our detailed analysis, you can go directly to 15 Best Supplemental Insurance Companies Heading into 2024.

5. State Farm Insurance

Annual Revenue (2022): $89.3 Billion

State Farm Insurance is one of the largest group of mutual insurance companies across the United States. The company provides coverage for property insurance, casualty insurance, auto insurance, motorcycle insurance, and supplemental insurance. Under the company’s supplemental health insurance policy, the company facilitates individuals and families to manage extra medical costs during their stay in the hospital. The company pays up to $1,000 in its supplemental health insurance plan. For its supplemental health insurance plus plan, the company also accounts for extended care services, emergency accidents, outpatient surgeries, observation coverage, and ambulance services. State Farm Insurance reported annual revenue worth $89.3 billion in 2022.

4. Chubb Limited (NYSE:CB)

Market Capitalization as of December 14, 2023: $92.25 Billion

Chubb Limited (NYSE:CB), a leading insurance company based in Switzerland, is among the best supplemental insurance companies heading into 2024. The company provides property insurance, casualty insurance, life insurance, health insurance, and supplemental insurance. The GAP supplemental health insurance coverage by the company accounts for out-of-pocket medical care expenses. Customers can only avail the supplementary health insurance if they have a major medical plan. Chubb Limited (NYSE:CB) was founded in 1985 and has a market cap of $92.25 billion, as of December 14.

3. CVS Health Corporation (NYSE:CVS)

Market Capitalization as of December 14, 2023: $96.09 Billion

CVS Health Corporation (NYSE:CVS) ranks among the best supplemental insurance companies heading into 2024. The company’s subsidiary, Aetna Inc. is a managed healthcare company based in Connecticut, United States. It provides comprehensive supplemental health insurance plans to its customers. Aetna Inc. primarily accounts for emergency medical costs and life expenses such as accidents, extended hospital stays, and serious illnesses. CVS Health Corporation (NYSE:CVS) has a market cap of $96.09 billion, as of December 14.

2. Allianz SE (OTC:ALIZY)

Market Capitalization as of December 14, 2023: $103.06 Billion

Allianz SE (OTC:ALIZY) is a large insurance company based in Munich, Germany. The company provides coverage for home insurance, business insurance, health insurance, life insurance, accident insurance, and supplemental insurance. The company provides extensive supplementary health insurance services. Prominent features include childbirth allowance, hospital stay reimbursement, access to an external health facility, general medical examination, specialist examination, physical therapy, and specialist diagnostics. Allianz SE (OTC:ALIZY) has a market cap of $103.06 billion and ranks among the best supplemental insurance companies heading into 2024.

1. UnitedHealth Group Incorporated (NYSE:UNH)

Market Capitalization as of December 14, 2023: $495.32 Billion

UnitedHealth Group Incorporated (NYSE:UNH) ranks as one of the best supplemental insurance companies heading into 2024. The American multinational primarily focuses on the provision of health insurance and services. Under its supplemental insurance policy, the company provides dental and vision insurance coverage to ensure all medical expenses not included in a medical plan are compensated for. Other supplemental plans include hospital and doctor-fixed indemnity insurance, critical illness insurance, hospitalization insurance, international travel insurance, and term life insurance. UnitedHealth Group Incorporated (NYSE:UNH) boasts a market cap of $495.32 billion, as of December 14.

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