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

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Reviewed by Daniel Walker
Licensed Auto Insurance Agent

UPDATED: Mar 19, 2020

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Health insurance companies are rated by independent ratings firms like A.M. Best and Standard and Poor’s. Consumers can get helpful information about the company’s financial stability.

Along with these facts, a health insurance consumer should consider whether the company is one that they will feel comfortable dealing with.

If you are seeking health insurance rates for your own needs use the free tool above!

A.M. Best Ratings

To get information about different health insurance providers, consumers can visit the A.M. Best  web site. Registration is required, but there is no charge for getting information from this company.

A.M. Best rates insurance companies on the basis of the company’s financial strength. A person looking for health insurance wants to be sure that the company they choose will be able to pay out on a large claim if necessary. Consumers who want to make sure the health insurance company they are dealing with is a stable one should choose a company with a high rating (A++ to B+).

Health insurance companies with a rating lower than a B+ may have trouble meeting their financial obligations. The best choice for a consumer is probably to buy their health insurance from a provider with a higher rating.

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Standard and Poor’s Ratings

Standard and Poor’s  also rates insurance companies based on their financial strength. Finding this information about a particular provider is a matter of browsing through the listing of insurance companies on the Standard and Poor’s web site. Users are asked to register with the web site before viewing a report about a particular insurance company. There is no charge to so do.

Doing Your Homework

Before deciding to buy health insurance from a particular company, a consumer should take the time to do their homework first. The company they choose should be one that is well established and that has a good reserve of funds available. If a person who is insured under the policy is involved in an accident or diagnosed with a major illness requiring hospitalization or numerous medical treatments, the amount of claims being made against the policy can add up quickly.

Choosing a health insurance provider that has a high rating for financial stability means that it has the means to pay out on a sizable claim, if required. It’s important to keep in mind that the health insurance company offers coverage to a large number of people and that it is paying out on claims of all sizes regularly. The financial stability of the company is an important consideration when trying to decide which health care insurer to deal with.

Another consideration that needs to be factored in is how well the insurance company’s plan options can meet the customer’s needs. No health insurance policy will provide protection for every type of expense, so customers needs to determine what kinds of healthcare expenses they are most likely to incur and find a plan that addresses them. The customer should also consider what the policy exclusions are before making a decision about coverage.

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Pricing is a definite consideration when it comes to buying health insurance, but it shouldn’t be the only one that a consumer looks at. Buying a policy based on lower insurance rates and premiums may mean that the customer is not getting the best type or level of coverage for their needs. As a result, the health insurance companies are offering policies at different price points.

The procedure for making claims is also important. Ideally, a health insurance company can process claims made under the policy relatively quickly. It’s a good idea to find out how claims are normally handled and what the procedure is if there is ever any dispute about payments.

When looking for health insurance coverage, a consumer should consider several factors, including how healthy the company’s balance sheet is. When gathering information about different health insurance options, checking the company’s rating with A.M. Best or Standard and Poor’s should be part of the process. If the company in question has a good rating with these companies, then the consumer can go on to consider the type of policies offered.

Cost should be factored in after the work of finding out details about the company has been completed. Many health insurance providers have several coverage options available and they are sensitive to the fact that consumers have budgetary considerations they need to factor in when looking at their options.

How health insurance companies are rated is one of the first things that should be looked at. If the company proves to be a healthy one, financially speaking, it is worth considering as an insurance provider.

Enter your zip code in the free tool on this page and get quotes from several providers now!