5 Biggest Health Insurance Companies in the US

In this article, we discuss the 5 biggest health insurance companies in the US. To read the industry analysis you can go directly to the 20 Biggest Health Insurance Companies in the US.

5. Humana Inc. (NYSE:HUM)

Market Capitalization: $55.71 billion

Humana Inc. (NYSE:HUM) was founded as Extendicare Inc. in 1961 in Louisville, Kentucky, where it is still headquartered. The company is ranked 42 on the Fortune 500 and 201 on Forbes Global 2000, making it one of the biggest health insurance companies in the world. However, Humana Inc. (NYSE:HUM) does not provide its services outside of the United States.

In the first quarter of 2022, 68 hedge funds held a stake in Humana Inc. (NYSE:HUM) and GQG Partners was its most prominent hedge fund holder with over 2.24 million shares worth over $1 billion.

4. Chubb Limited (NYSE:CB)

Market Capitalization: $78.58 billion

Chubb Limited (NYSE:CB) is a Switzerland-based insurance and reinsurance company that operates worldwide including the United States. With a market cap of $78.58 at the time of writing, it is the fourth-largest health insurance company in the United States. In the first quarter of 2023, 45 hedge funds held Chubb Limited (NYSE:CB)’s shares. Viking Global was the hedge fund with the most prominent stake in the company in the first quarter with 3.466 million shares worth $673.17 million.

3. The Cigna Group (NYSE:CI)

Market Capitalization: $81.6 billion

The Cigna Group (NYSE:CI) is an American healthcare company offering managed healthcare and health insurance services. With a market cap of $81.78 billion, the company is fourth on our list of the biggest health insurance companies in the US. It is estimated to have around 165 million customers across 30 countries.

The Cigna Group (NYSE:CI) offers medical insurance, dental, and accident insurance along with other similar insurance services. The Cigna Group (NYSE:CI) also offers digital ID cards and app services for their customers’ convenience.

2. Elevance Health, Inc. (NYSE:ELV)

Market Capitalization: $105.37 billion

Elevance Health, Inc. (NYSE:ELV) formerly known as Anthem, Inc., is an American managed-healthcare and health insurance company. The company is quite favored by Wall Street analysts. In the last three months, 14 analysts have covered Elevance Health, Inc. (NYSE:ELV) and all of them keep a Buy or Overweight rating on the company stock with a $567.07 average price target. It is also why Elevance Health, Inc. (NYSE:ELV) is one of our best stocks for long-term growth.

1. UnitedHealth Group Incorporated (NYSE:UNH)

Market Capitalization: $449.27 billion

UnitedHealth Group Incorporated (NYSE:UNH) is a Minnesota-based healthcare company. It is the largest insurance company in the world by market cap. In the first quarter of 2023, 116 hedge funds had a stake in the company worth $11.708 billion. The hedge fund sentiment for UnitedHealth Group Incorporated (NYSE:UNH) increased in Q1 2023 as 110 hedge funds held a stake worth $11.46 billion in the fourth quarter of 2022.

You can also look at the 20 Biggest Franchises In The World and the 25 Most Unfriendly Countries in the World.

Insider Monkey focuses on uncovering the best investment ideas of hedge funds and investors. Please subscribe to our daily free newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.