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Florida Health and Life Insurance Complaints and Florida’s Largest Health Insurance Companies

 

Lets preface this web page by first noticing that even though Blue Cross Blue Shield of Florida has the most complaints (table is below article)  in the health insurance category that they also have the most revenue.  A fairer number would be the ratio of complaints to the amount of premium collected (in 2008) which would equal  4,750,505 and second place which is held by United Health Care (aka Golden Rule) 7,334,957 which would mean that as a function of premium United Health Care has far more problems then Blue Cross Blue Shield.  The reason for this however is that Blue Cross is a domiciled insurance carrier of Florida which means that they must adhere to Florida law and in particular rating practices; whereas Golden Rule for instance is an out of state association based company and may engage in rating practices prohibited by Florida law. To read more about thse and other fun facts check out Review of Florida Health Insurance Laws Relating to Rates and Access to Coverage .  Another fact is that United Health One has a tendency to rescind health insurance policies.  Take it from me, I must have set a record as probably 10 out of 100 United Health Care policies were rescinded in 2008.  This means that the company refunds the entire premium from the effective date of the policy and leaves you without health insurance.  Their reasoning?  Because you didn’t answer the application honestly.  In all fairness to UHC, these recissions tended to be for serious illnesses not little things.  Although one actual case involved a policy holder who due to perhaps negligence or ignorance of the medical profession in their area, died of an ear infection…United Healthcare deemed this as a pre-existing condition and denied the medical claims, the grieving daughter had to fight United Heatlhcare in hopes of having those medical claims covered and we never did hear the end of that battle although it may still very well be going a year later?!

1,618,1492 is the ration for Aetna which is far better than either company and I have never had a recission for an Aetna policy nor has a client ever complained about them (except for the Great Premium increase of 2009, 20% by most accounts).  Golden Rule is on there a second time as just Golden Rule and their complaint level is 2,466,119 which is still fairly high.  Unicare out of Texas is fantastic as is CIGNA in having a low ratio.  The rest of the companies are life insurance carriers and I can’t imagine why people complain about their life insurance policy (as they would most likely be dead by the time any serious issue came up!)

If you would like to file a health insurance complaint please visit our health insurance complaint section in the contact section and I will not only post your complaint if valid but I can help you get satisfaction with the state.

Florida’s Health Insurance Companies and Their Annual Premiums and Revenue

I have also used this page to show the revenue size of Florida health insurance companies in terms of annual premium received.  Of course this is the only source of revenue so it stands to reason that after factoring in expenses (claims) some health insurance companies might be more profitable than others but take in less premiums.  In fact, in the health insurance industry the margins of a particular company could determine to what degree they are taking a profit motivation over their responsibility as a health insurance provider who exists soley to provide for their member in the event of catastrophe.    Blue Cross Blue Shield of Florida is non profit for example shouldn’t their margins be lower than United Health One a for profit company?  The answer is yes of course because the moment they are more profitable they are doing so at the expense of their member to whom their sole responsibility should lie.  Remember even though the average profit margin in the health insurance industry is only 2.2% that is after the executives and the CEO take their bonuses and salaries.

What do these numbers mean?  Basically, the health care costs problems are not because of the health insurance industry.  I have said this many times as the only way for a health insurance company to become more profitable is at the expense of another health insurance because when they drive up membership they are usually taking them from another company or from the ranks of the uninsured.  Therefore, in order to reform health care we will need to look at tort reform, pharmecuticals, and the hospitals that make much higher profit margins then the beleagured insurance companies.  But this does not mean that the Blue Cross Blue Shield of Florida company jet should be ignored either.  (In comparison, trial lawyers showed a profit margin of almost 14%, six times that of the health insurers. )

Here are some Example of the Health Insurance Profits and The Profit Margins

Health insurers posted a 2.2 percent profit margin last year, placing them 35th of 53 industries on the Fortune 500 list. As is typical, other health sectors did much better — drugs and medical products and services were both in the top 10.

The railroads brought in a 12.6 percent profit margin. Leading the list: network and other communications equipment, at 20.4 percent.

HealthSpring, the best performer in the health insurance industry, posted 5.4 percent. That’s a less profitable margin than was achieved by the makers of Tupperware, Clorox bleach and Molson and Coors beers.

The star among the health insurance companies did, however, nose out Jack in the Box restaurants, which only achieved a 4 percent margin.

UnitedHealth Group, reporting third quarter results last week, saw fortunes improve. It managed a 5 percent profit margin on an 8 percent growth in revenue.

Van Hollen is right that premiums have more than doubled in a decade, according to a Kaiser Family Foundation study that found a 131 percent increase.

But were the Bush years golden ones for health insurers?

Not judging by profit margins, profit growth or returns to shareholders. The industry’s overall profits grew only 8.8 percent from 2003 to 2008, and its margins year to year, from 2005 forward, never cracked 8 percent.

The latest annual profit margins of a selection of products, services and industries: Tupperware Brands, 7.5 percent; Yahoo, 5.9 percent; Hershey, 6.1 percent; Clorox, 8.7 percent; Molson Coors Brewing, 8.1 percent; construction and farm machinery, 5 percent; Yum Brands (think KFC, Pizza Hut, Taco Bell), 8.5 percent.

 

      NAIC             COMPANY NAME                                           PREMIUMS                   COMPLAINTS

98167 BLUE CROSS & BLUE SHIELD OF FLORIDA, INC. $4,950,026,890 1042
79413 UNITED HEALTHCARE INSURANCE COMPANY $2,640,584,617 360
62308 CONNECTICUT GENERAL LIFE INSURANCE COMPANY $517,807,748 32
60054 AETNA LIFE INSURANCE COMPANY $389,912,764 58
65978 METROPOLITAN LIFE INSURANCE COMPANY $265,005,759 0
60380 AMERICAN FAMILY LIFE ASSURANCE COMPANY OF COLUMBUS $257,088,986 8
62286 GOLDEN RULE INSURANCE COMPANY $254,010,353 103
80314 UNICARE LIFE & HEALTH INSURANCE COMPANY $181,501,206 4
70815 HARTFORD LIFE AND ACCIDENT INSURANCE COMPANY $141,105,104 3
62235 UNUM LIFE INSURANCE COMPANY OF AMERICA $133,274,673 0
64246 GUARDIAN LIFE INSURANCE COMPANY OF AMERICA $132,456,565 4
61263 BANKERS LIFE AND CASUALTY COMPANY $119,477,620 6
92916 UNITED AMERICAN INSURANCE COMPANY $118,355,569 68
65676 LINCOLN NATIONAL LIFE INSURANCE COMPANY $100,436,635 1
70025 GENWORTH LIFE INSURANCE COMPANY $100,215,497 2
65099 JOHN HANCOCK LIFE INSURANCE COMPANY $93,029,378 0
69477 TIME INSURANCE COMPANY $90,944,236 37
81396 DELTA DENTAL INSURANCE COMPANY $78,526,904 0
69019 STANDARD INSURANCE COMPANY $74,860,676 0
61271 PRINCIPAL LIFE INSURANCE COMPANY $74,041,683 8
19445 NATIONAL UNION FIRE INSURANCE CO. OF PITTSBURGH, P $68,833,036 12
60763 AMERICAN PIONEER LIFE INSURANCE COMPANY $68,562,516 0
97055 MEGA LIFE & HEALTH INSURANCE COMPANY $65,893,289 35
70408 UNION SECURITY INSURANCE COMPANY $60,309,218 0
76031 FLORIDA COMBINED LIFE INSURANCE COMPANY $60,298,109 5
62049 COLONIAL LIFE AND ACCIDENT INSURANCE COMPANY $60,008,239 1
66087 MID-WEST NATIONAL LIFE INSURANCE COMPANY OF TN $56,677,429 9
60534 AMERICAN HERITAGE LIFE INSURANCE COMPANY $54,812,095 8
71412 MUTUAL OF OMAHA INSURANCE COMPANY $52,750,965 9
68241 PRUDENTIAL INSURANCE COMPANY OF AMERICA (THE) $50,422,374 0
65498 LIFE INSURANCE COMPANY OF NORTH AMERICA $49,391,684 2
68322 GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY $48,121,615 5
68608 SYMETRA LIFE INSURANCE COMPANY $42,766,316 0
60984 COMPBENEFITS INSURANCE COMPANY $39,567,920 0
66281 MONUMENTAL LIFE INSURANCE COMPANY $38,431,914 2
97179 AMERICAN MEDICAL SECURITY LIFE INSURANCE COMPANY $36,687,735 4
68381 RELIANCE STANDARD LIFE INSURANCE COMPANY $33,834,842 1
80802 SUN LIFE ASSURANCE COMPANY OF CANADA $33,225,544 0
71404 CONTINENTAL GENERAL INSURANCE COMPANY $29,845,501 8
76325 SENIOR HEALTH INSURANCE COMPANY OF PENNSYLVANIA $28,154,688 4
80799 CELTIC INSURANCE COMPANY $27,966,838 13
60593 NATIONAL STATES INSURANCE COMPANY $25,079,974 2
61301 AMERITAS LIFE INSURANCE CORP. $24,958,597 0
87726 METLIFE INSURANCE COMPANY OF CONNECTICUT $24,591,455 0
66915 NEW YORK LIFE INSURANCE COMPANY $23,490,783 1
70106 UNITED STATES LIFE INSURANCE COMPANY IN CITY OF NY $22,825,546 4
80926 SUN LIFE AND HEALTH INSURANCE COMPANY (U.S.) $22,260,124 1
25178 STATE FARM MUTUAL AUTOMOBILE INSURANCE COMPANY $21,829,214 0
65021 STONEBRIDGE LIFE INSURANCE COMPANY $21,409,184 0
68195 PROVIDENT LIFE AND ACCIDENT INSURANCE COMPANY $21,300,228 0
65110 KANAWHA INSURANCE COMPANY $19,886,498 1
68500 CONTINENTAL LIFE INS. CO. OF BRENTWOOD, TENNESSEE $18,936,842 0
62146 COMBINED INSURANCE COMPANY OF AMERICA $18,315,744 3
67105 RELIASTAR LIFE INSURANCE COMPANY $17,476,112 1
70580 HUMANADENTAL INSURANCE COMPANY $17,039,981 0
88072 HARTFORD LIFE INSURANCE COMPANY $16,267,720 1
72850 UNITED WORLD LIFE INSURANCE COMPANY $16,078,383 1
70319 WASHINGTON NATIONAL INSURANCE COMPANY $16,076,287 4
27928 AMEX ASSURANCE COMPANY $15,930,616 0
65331 LIBERTY NATIONAL LIFE INSURANCE COMPANY $15,745,908 7
60410 AMERICAN FIDELITY ASSURANCE COMPANY $15,710,240 2
69663 USAA LIFE INSURANCE COMPANY $14,997,095 0
77828 COMPANION LIFE INSURANCE COMPANY $14,991,477 0
71870 FIDELITY SECURITY LIFE INSURANCE COMPANY $14,375,180 1
64211 GUARANTEE TRUST LIFE INSURANCE COMPANY $14,337,253 10
93440 HM LIFE INSURANCE COMPANY $13,532,583 0
65315 LIBERTY LIFE ASSURANCE COMPANY OF BOSTON $13,309,680 0
62324 FREEDOM LIFE INSURANCE COMPANY OF AMERICA $13,240,394 9
65005 RIVERSOURCE LIFE INSURANCE COMPANY $12,620,470 0
38245 BCS INSURANCE COMPANY $11,586,275 2
61425 TRUSTMARK INSURANCE COMPANY $11,356,958 3
67091 NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY $11,205,733 0
90611 ALLIANZ LIFE INSURANCE COMPANY OF NORTH AMERICA $11,095,850 1
68047 PROFESSIONAL INSURANCE COMPANY $10,694,035 2
69744 UNION LABOR LIFE INSURANCE COMPANY $10,628,488 0
92711 HCC LIFE INSURANCE COMPANY $10,583,991 0
67369 ALTA HEALTH & LIFE INSURANCE COMPANY $10,121,481 1
78174 CONSECO HEALTH INSURANCE COMPANY $10,118,453 13
86355 STANDARD LIFE AND ACCIDENT INSURANCE COMPANY $9,881,330 2
68136 PROTECTIVE LIFE INSURANCE COMPANY $9,733,143 1
71854 AAA LIFE INSURANCE COMPANY $9,540,333 0
20443 CONTINENTAL CASUALTY COMPANY $9,486,895 0
80578 PHYSICIANS MUTUAL INSURANCE COMPANY $9,441,244 0
86231 TRANSAMERICA LIFE INSURANCE COMPANY $9,159,338 3
62626 CUNA MUTUAL INSURANCE SOCIETY $8,805,669 0
65927 LINCOLN HERITAGE LIFE INSURANCE COMPANY $8,750,714 0
62359 CONSTITUTION LIFE INSURANCE COMPANY $8,725,032 1
65595 LINCOLN BENEFIT LIFE COMPANY $8,672,241 0
68845 SHENANDOAH LIFE INSURANCE COMPANY $8,625,822 0
65080 JOHN ALDEN LIFE INSURANCE COMPANY $8,556,263 4
73288 HUMANA INSURANCE COMPANY $8,319,617 42
66672 AMERICAN GENERAL LIFE & ACCIDENT INSURANCE COMPANY $8,118,930 9
16535 ZURICH AMERICAN INSURANCE COMPANY $7,965,694 0
69078 STANDARD SECURITY LIFE INSURANCE CO. OF NEW YORK $7,962,062 7
69132 STATE MUTUAL INSURANCE COMPANY $7,859,602 0
69000 NORTHWESTERN LONG TERM CARE INSURANCE COMPANY $7,565,057 0
66869 NATIONWIDE LIFE INSURANCE COMPANY $6,779,978 1
69868 UNITED OF OMAHA LIFE INSURANCE COMPANY $6,632,101 0
66842 AIG LIFE INSURANCE COMPANY $6,515,079 2
60186 ALLSTATE LIFE INSURANCE COMPANY $6,418,560 1
61751 CENTRAL STATES HEALTH & LIFE COMPANY OF OMAHA $6,393,302 0
70629 WORLD INSURANCE COMPANY $5,982,633 1
79014 SAFEHEALTH LIFE INSURANCE COMPANY $5,699,719 0
65935 MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY $5,575,292 0
64580 ILLINOIS MUTUAL LIFE INSURANCE COMPANY $5,521,393 1
60895 AMERICAN UNITED LIFE INSURANCE COMPANY $5,225,505 0
68373 AMERICAN GENERAL ASSURANCE COMPANY $4,743,910 0
67539 PAN-AMERICAN LIFE INSURANCE COMPANY $4,539,843 11
72990 GENWORTH LIFE INSURANCE COMPANY OF NEW YORK $4,390,261 0
78743 NEW ERA LIFE INSURANCE COMPANY $4,385,154 1
71773 AMERICAN NATIONAL LIFE INS. CO. OF TEXAS $4,258,395 6
67784 PHILADELPHIA AMERICAN LIFE INSURANCE COMPANY $4,073,934 2
66168 MINNESOTA LIFE INSURANCE COMPANY $4,034,411 0
22667 ACE AMERICAN INSURANCE COMPANY $3,945,151 0
21113 UNITED STATES FIRE INSURANCE COMPANY $3,905,196 2
68284 PYRAMID LIFE INSURANCE COMPANY (THE) $3,800,305 9
62944 AXA EQUITABLE LIFE INSURANCE COMPANY $3,770,136 2
65781 MADISON NATIONAL LIFE INSURANCE COMPANY INC. $3,665,133 0
65536 GENWORTH LIFE AND ANNUITY INSURANCE COMPANY $3,593,721 0
39217 QBE INSURANCE CORPORATION $3,593,425 0

“Premiums” represents the total dollar amount of premiums collected from Florida consumers in the most recent calendar year as reported by the National Association of Insurance Commissioners (NAIC).

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