Chelsey Tucker graduated with a Bachelor of History degree from Metropolitan State University in 2019. She now writes about insurance with her specialty being life insurance and has been quoted on Help Smart Phone and MEL Magazine.

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Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years. He is licensed as an agent to write property and casualty insurance, including home, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com.

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Reviewed by Daniel Walker
Licensed Auto Insurance Agent

UPDATED: Mar 19, 2020

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Amalgamated Life vs Health Net Life Insurance Company

In today’s society, hundreds of insurance companies are vying for the public’s business. Thus, it’s necessary for each company to emerge with innovative and creative solutions to capture the attention of prospective clients.

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Two such companies have accomplished these tasks and have landed substantial positions in the highly competitive insurance industry field. Several factors are involved in deciding which company is best suited, but depending on the specific needs, both companies have much to offer.

Amalgamated Life Coverage

Amalgamated Life Insurance, also known as America’s Labor Insurance Company, provides quality insurance solutions and benefit programs for the working class group and their families.

For more than 60 years, the primary focus of Amalgamated Life has been the management and protection of the financial welfare of working people.

The company has achieved its goals by providing a comprehensive range of health, financial and administrative services, garnering thousands of satisfied customers in the process.

Amalgamated Life Company vs Health Net Life Insurance Company

Amalgamated offers full-service support to its customers by providing the following solutions:

  • Life Insurance: Through their basic group life policy, workers have access to their choice of benefit amounts and conversion is possible from group policies into individual permanent policies. Also, members have the option to purchase additional insurance for their spouses and children, supplemental insurance to increase their benefit amounts, and retirees can purchase Retiree Life Coverage in accordance with their employer’s retiree benefits program.
  • Medical Stop Loss Insurance: It’s a well-known fact that catastrophic illnesses can drive a business into bankruptcy by eradicating most, if not all of their medical reserves. Amalgamated Life helps companies guard against this kind of disaster by offering Medical Stop Loss Insurance. This type of insurance is designed to protect a company’s medical reserves by paying the employees’ medical bills once the company has reached their predetermined deductible. Thus, businesses are able to lower the level of risk involved with high cost individual claims that could lead to financial devastation.
  • Disability Insurance: Amalgamated Life provides coverage for non-work related illnesses and injuries through their short- and long-term disability benefits. To accommodate the clients’ needs, benefits and duration of leaves vary accordingly.
  • Accidental Death and Dismemberment Insurance: In the event of severe injury, paralysis or death that’s caused accidentally, Amalgamated Life offers coverage up to the amount of the members’ basic life insurance that’s in force at the time of the accident. However, this coverage is not available in all states, and it only applies to group term life policies.

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Amalgamated Life:  A Diverse Company

Amalgamated Life Insurance Company vs Health Net Life Insurance Company

In addition to providing quality insurance products, Amalgamated strives to anticipate all of the essentials and requirements that most businesses will encounter and it’s fully prepared to deliver the necessary products with the assistance of their affiliate companies.

From the complete and seamless administration of all health, insurance and pension plans to the provision of mainframe outsourcing and information technology solutions, Amalgamated is a one-stop shop that numerous businesses have turned to receive exceptional services and products covering an extensive range of operational and administrative functions.

Amalgamated understands that when a company offers its employees the ultimate protection in health and financial services and supplies top-rated technological resources, it’s establishing the security in the workplace that will enable the work force to produce the excellent performance that’s the core of a successful business.

Add to this the fact that they are an AM Best “A” Rated carrier and businesses are guaranteed to receive an astute analysis of their specific needs followed by a sincere commitment to launch a plan that is customized with innovative solutions that accommodate each company’s specific needs.

In short, Amalgamated Life looks after the well being of both businesses as well as employees.

Health Net Life Insurance Company

Health Net Life Insurance Company is a full-service medical insurance company that also offers individual term life insurance plans.

Currently, more than 2.3 million members have access to more than 50,000 health care professionals and 4,600 pharmacies collectively providing health care services. Health Net Life Insurance Company has an AM Best rating of B++ (Good).

A unique distinction of Health Net Life Insurance Company is that it has partnered with a team of professionals called SIMNSA to form a company called Salud Con Health Net.

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This partnership provides services to members on both sides of the borders of California and Mexico. Following is a list of the many plans offered by Health Net Life Insurance Company:

  • Preferred Provider Organization (PPO) and Health Maintenance Organization (HMO) health plans: Health Net Life Insurance utilizes these well-known managed care products to place a network of health care providers at their members’ disposal. Members can choose from a variety of PPO and HMO plans.
  • Dental and Vision Insurance Plans: In the past, these types of plans have proven to be difficult to obtain at affordable rates but Health Net Life Insurance Company provides plans that coordinate all health care needs in this area while remaining cost-effective for everyone concerned.
  • Short-Term Health Insurance Policies: This is a new and innovative resource provided by Health Net Life Insurance Company offering medical insurance coverage by the day or month for up to six months.
  • Medicare Plans: These Medicare products include plans both with and without prescription drug coverage, plans that provide only prescription drug coverage, Medigap and Medicare supplemental plans. They also offer Private Fee-for-Service Plans, one of the fastest growing Medicare Advantage services on the market today that involves Medicare paying private insurers an agreed-upon amount to provide health coverage to members.
  • Participation in Government Sponsored Health Plans: Health Net Life Insurance Company is able to further extend their assistance to people by joining in with aspects of certain government-sponsored programs throughout the state such as Access for Infants and Mothers (AIM) and Healthy Families.

The Main Difference

Amalgamated Life Insurance versus Health Net Life Insurance

The main difference between these two companies is the types of services that are available to their members. Health Net Life Insurance Company’s services revolve around medical coverage and life insurance while Amalgamated Life’s products include medical and life insurance as well as technological, operational and administrative services. In short, Health Net Life Insurance Company deals with one area of employees’ and members’ lives and Amalgamated Life focuses on the total operations of a business, including their employees. Either can provide immense support depending on the types of services required.

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