Which carrier offers the best group health coverage?
Anthem/Blue Cross Blue Shield – winner
What Starbucks is to coffee, Anthem/BCBS is to group health care. So that might go a long way toward explaining the ubiquitous carrier's regulatory troubles. The only attention they seem to get from the mainstream press – or anywhere in California – is sensational headlines about outrageous rate increases or dramatic stories of denied claims.
But brokers don't believe the hype. For the third year in a row, Anthem/BCBS runs away with this category, setting the carrier standard for group health. Whether it's by default or through a genuine effort at superior service, Anthem still emerges as the clear market leader.
UnitedHealthcare – honorable mention
For another unsurprising result, UnitedHealthcare is still viewed as a leading provider of overall group health care. And this year, they've got the numbers to back 'em up. Though health care use climbed at a slower rate than usual this year in part due to a slumping economy reining in utilizations, United's most recent quarter earnings rose a whopping 13 percent. The group's enrollment hike of 5 percent compared to last year's second quarter contributed to an 8 percent jump in revenue from UnitedHealthCare.
Which carrier offers the best consumer-driven health care products?
Colonial Life – winner
Get used to seeing this carrier. Kicking off their unprecedented best of show performance this year, Colonial Life picks up the consumer-driven carrier title with ease. And they're not content to sit on it. They're constantly tweaking their voluntary product portfolio to meet the ever-changing demands of an evolving marketplace – even as employers increasingly shift more benefits costs and decisions onto employees themselves.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.