10 Largest Health Insurance Companies In America

Health insurance is one of the essential things in life, so which are the largest health insurance companies in America? While a majority of Americans obtain insurance through their employers a large part of Americans receive health coverage through a public health insurance program.

Health insurance is a system for covering health care costs in advance, through contributions or taxes paid into a joint fund or health insurance institute for all or some of the health services specified by law, by-laws or by the insurance policy. Health insurance can refer to a limited or comprehensive range of health services and can serve as a full or partial coverage of the costs of a particular service, medication or medical device. Benefits may consist of the right to certain health services or to refund to the insured for certain expenses. State health insurance is regulated and managed by the state; private insurance is also governed by law and guided by an insurance company or another private agency with a license. The first forms of insurance meet in the original human community within the tribe, and later the family. The first danger that a man met was hungry, and the measure he tried to protect was the modest obligatory contributions of the individual in the crop during his birth years. Insurance elements occur in the Chinese when transporting goods across Jangcekang, as well as in Babylon four millennia ago: in the event of a loss of a ship, the owner was compensated for damage, and if the ship arrived at the destination, the owner was required to pay a certain portion of the profits. In ancient Rome, a religious association was founded, in which members paid a certain amount for admission as well as a monthly membership fee, and in the event of the death of a member, the costs of the funeral were jointly borne by the widows and children of the deceased. Since the second half of the 19th century, the third period in the history of insurance began, when the state enters the insurance scene. Recognizing the enormous economic and social importance of insurance, the state benefits from insurance for its interests, such as capital accumulation, by which insurers have a relatively extended period. Insuring capital is a new source of collection of funds of state funds, which is essential for the development of state credit. One of the largest health insurance companies in America is Triple-S Managment Corporation. It reported revenues of $2.9 billion for 2015 with profits of $52 million. Its stock has performed poorly compared to its peers, losing 10% over the last five years. Another one is Magellan Health. The company has three segments – Healthcare, Pharmacy Management and Corporate.

 

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