UnitedHealth is still the biggest insurance company in the world

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For the ninth year in a row, the insurer has held onto the top spot based on net premiums written. UnitedHealth Group Incorporated has once again taken the title of largest insurance company in the world, ranking at the top of AM Best’s list of the 25 biggest insurers. The insurer has been the biggest in the world for nine consecutive years on AM Best’s list. The size of the insurance company was measured based on net premiums written. UnitedHealth’s net premiums written (NPW) grew by 14 percent in 2022,…

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Aetna leaves prominent health insurance trade group

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Aetna will no longer be part of America’s Health Insurance Plan Aetna, one of the largest insurers in the United States, has left the health insurance industry’s largest trade group. This has raised concerns among critics of the Affordable Care Act, who claim that as more insurers leave the trade group, the federal law may be in jeopardy. Aetna is the second large insurer to leave the America’s Health Insurance Plans group, which was a major supporter of the Affordable Care Act as it was being drafted. Trade group is…

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HHS announces that 8.2 million people have acquired health insurance during open enrollment period

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HHS data shows that millions of consumers have acquired coverage through HealthCare.gov The U.S. Department of Health and Human Services (HHS) has announced that as many as 8.2 million people have signed up for health insurance coverage through HealthCare.gov. Of these, 2.1 million were below the age of 35, which has become one of the most sought after demographics for the insurance industry. This is significantly higher than the estimated 6.4 million people who used HealthCare.gov during last year’s open enrollment period. Majority of consumers receive coverage through federal exchanges…

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North Carolina health insurance companies owe $8.5 million in rebates

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Insurers must return some $8.5 million in premiums to consumers and businesses Health insurance companies in North Carolina will be reimbursing consumers and businesses some $8.5 million, according to the state Insurance Commissioner Wayne Goodwin. These insurers have failed to comply with the medical loss ratio, a provision of the Affordable Care Act that requires insurers to spend no less than 80% of the money they collect through premiums on medical care. For insurers providing coverage to businesses, the medical loss ratio is set at 85%. Medical loss ratio continues…

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Aetna and Anthem show faith in health insurance exchanges

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Insurers see promise in exchange marketplaces throughout the United States Amidst concerns that health insurance exchanges in the United States may be bad marketplaces for insurers, Aetna and Anthem have begun working to reassure investors that this is not the case. Recently, many insurers have been reporting losses due to their participation in insurance exchanges. These losses have lead UnitedHealth, the country’s largest health insurance provider, to exit from all exchanges throughout the country. This has caused a great deal of worry for those receiving coverage through exchanges as well…

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