According to the NAIC, the top-10 insurers in the accident and health market collectively wrote premiums for just over 50 per cent of the market, which itself reached direct written premiums of US$1.25 trillion.
The top-10 accident and health insurance groups, as determined by NAIC’s 2020 data, were:
- UnitedHealth ($176.7 billion in direct written premiums)
- Kaiser Foundation ($104.2 billion in direct written premiums)
- Anthem Inc. ($76.9 billion)
- Centene Corp. ($75 billion)
- Humana ($73.9 billion)
- CVS ($69 billion)
- HCSC ($42 billion)
- Cigna Health ($31.8 billion)
- Molina Healthcare, Inc. ($21.4 billion)
- Independence Health Group ($20.1 billion)
NAIC focuses on health insurance marketing
Meanwhile, the NAIC has formed a new working group to address the improper marketing of health plans. The working group will address the deceptive marketing of health plans and other products that lead consumers to believe they are purchasing comprehensive health coverage when they are really purchasing coverage that does not cover all pre-existing conditions or hospital care.
The Working Group’s official charges include:
- Co-ordinate with regulators, both on a state and federal level, to provide assistance to and guidance on monitoring the improper marketing of health plans, and coordinate appropriate enforcement actions, as needed, with other NAIC Committees, task forces, and working groups.
- Review existing NAIC models and guidelines, including laws and regulations, that address the use of lead generators for sales of health insurance products and identify models and guidelines that need to be updated or developed to address current marketplace activities.
- The Working Group is part of the National Antifraud (D) Task Force, which provides guidance and resources around tracking and analyzing fraud related trends and works with insurance departments, and local state, federal and international law enforcement agencies.