Health insurance companies generate revenue through the premiums they charge, the number of policies they write, the services they sell and the number of businesses in which they operate.
UnitedHealthcare is the largest health insurer in the U.S. by revenue, generating $257 billion in 2020, according to an August 2021 ValuePenguin report. With 70 million members, UnitedHealthcare also leads the pack in terms of covered lives.
Here are the eight largest health insurance companies by revenue:
1. UnitedHealthcare — $257 billion
2. Anthem — $122 billion
3. Centene — $111 billion
4. Kaiser Permanente — $89 billion
5. Humana — $77 billion
6. CVS Health — $75 billion
7. HCSC — $47 billion
8. Molina Healthcare — $19 billion