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FEP enrolls over half of the federal workforce, with over 5 million members, making it the largest insurer of federal employees and the largest single health plan group in the world. [5] [18] [19] [20] The association is headquartered in the Michigan Plaza complex in the Chicago Loop area of Chicago, Illinois. [21]
The US health insurance market is highly concentrated, as leading insurers have carried out over 400 mergers from the mid-1990s to the mid-2000s (decade). In 2000, the two largest health insurers (Aetna and UnitedHealth Group) had total membership of 32 million.
Selling insurance products under UnitedHealthcare, and health care services under the Optum brand, it is the world's ninth-largest company by revenue and the largest health care company by revenue. The company is ranked 8th on the 2024 Fortune Global 500 . [ 4 ]
Health insurance coverage is provided by several public and private sources in the United States. Analyzing these statistics is challenging due to multiple survey methods [12] and persons with multiple sources of insurance, such as those with coverage under both an employer plan and Medicaid. [1]
It is the largest for-profit managed health care company in the Blue Cross Blue Shield Association. As of 2022, the company had 46.8 million members within its affiliated companies' health plans. [5] Based on its 2021 revenues, the company ranked 20th on the 2022 Fortune 500. [6] In 2023, the company’s seat in Forbes Global 2000 was 78. [7]
As of 2014, HCSC was the country's largest nonpublic health insurer and the fifth-largest health insurer overall, with more than 16 million members. [2] HCSC's membership was approximately 16 million at December 31, 2019. HCSC's revenue continues to be concentrated in Illinois and Texas, accounting for 83% of premium for the full year 2017. [3]
(Reuters) -Humana's shares fell as much as 22.4% on Wednesday, as the health insurer said enrollments in its top-rated Medicare insurance plans dropped sharply, casting a cloud over the company's ...
Health Insurance Plan of Greater New York (HIP) was incorporated in 1944 as the first health insurance plan for public service workers. [9] The company was founded by David M. Heyman with the support of New York City mayor Fiorello LaGuardia, who wanted to offer medical services to New Yorkers of “moderate means.” [10] HIP got its first members in 1947.