Top 5 Health Insurance Companies In Arizona

One of the problems that come with ranking businesses like health insurance companies is that there are several ways of categorizing them.

For example, if we were to simply consider the top five health insurance companies in Arizona by the size of their membership, that wouldn’t necessarily say much about how they rank in terms of customer satisfaction or the quality and number of online reviews.

And a comparable situation would occur were we to only rank these organizations by their gross revenues.

But the truth is that, for most purposes, when we speak of the “top” anything when it comes to consumer goods or services – and the brands that provide them – we are often speaking of quality.

So, with that in mind, let’s take a look at the top five health insurance companies In Arizona.

Arizona’s Small Business Landscape

Arizona is not a large state in terms of population nor in the total number of businesses.

In fact, according to the Arizona Commerce Authority,

“Arizona has more than 550,000 small businesses, those with fewer than 500 employees. The US Small Business Administration estimates that these businesses employ one million workers, representing 44.5% of the state’s private workforce.”

The U.S. SBA, on the other hand, reports that there were 611,097 small businesses in Arizona in 2021, which was 99.5 percent of all Arizona businesses, and these employed 1.1 million employees who represented 42.9 percent of Arizona employees. And, of these, there are almost 95,000 businesses with less than 20 employees.

In contrast, California, for example, is home to 4.1 million small businesses. Similar to Arizona, these firms represent 99.8 percent of all businesses in the state and 48.5 percent of the total workforce. But, unlike Arizona, they employ 7.2 million workers – almost 700 percent more.

The ACA considers a company with 50 or fewer full-time employees to be a “small business” and, while these small businesses can qualify for the Small Business Health Options Program (SHOP), finding quality, affordable Arizona health insurance for their employees on their own can be challenging for many of these business owners.

By the way, keep in mind that FTEs, or full-time employees, include those employees who work an average of 30 hours per week or 130 hours per calendar month.

A Look at the Top Five Health Insurance Companies in Arizona

When it comes to health insurance, Arizona has several providers to choose from. And when it comes to health insurance for small business owners, there are a few that stand out.

And remember: the “top” or best health insurance for business owners is usually based on an aggregate “score” based on quality, affordability, coverage, and reputation. Also, there is no single best choice for every employer or every group of employees. Like individuals, each one is different and has unique needs.

With that, here are five of the best health insurance companies for business owners in Arizona:

Blue Cross Blue Shield of Arizona

Blue Cross Blue Shield of Arizona (BCBSAZ) offers health insurance and related services to more than 1.7 million customers. BCBSAZ, a not-for-profit company, is an independent licensee of the Blue Cross Blue Shield Association.

UnitedHealthcare combines tailored networks with innovative plan designs to meet your employees’ needs and your cost objectives.

Cigna Administered by Oscar, or Cigna + Oscar, is small group health insurance that is available to Arizona employers across at least 15 counties throughout the state, including Maricopa County.

Cigna HealthCare of Arizona

Cigna offers whole-person health plans designed for smaller companies with 25-99 employees. A recent survey of Cigna customers showed that they consider the company’s engagement consultants to be a highly valuable resource. 

Humana offers health insurance plans for small businesses (companies with 2 to 50 employees) that are designed to help businesses save money and help keep employees healthy.

There are several great reasons to offer health insurance for your employees even though, with less than 50 full-time employees, this is not a requirement. Along with giving you a hiring edge when attracting and keeping quality employees, as an Arizona small business employer you can receive tax credits when you offer health insurance coverage to your employees.

In fact, if you are a small business with 50 or fewer employees and the average annual wages of each employee is less than $50,000, you may be eligible for a federal tax credit of up to 50 percent of the amount you contribute toward employee insurance premiums.

At J.C. Lewis Insurance we would be happy to talk with you about your options and all the benefits that can be had with small group health insurance coverage.

J.C. Lewis Insurance – Your Small Group Health Insurance Ally in Arizona

J.C. Lewis Insurance is a long-time, family-owned insurance agency based in northern California that has been serving clients since our founding in 1979. As a team of expert brokers, we small business owners small group insurance plans, all from only the leading health insurance carriers licensed to do business in California.

At J.C. Lewis, we assist small business employers with the initial set-up, annual renewal, and ongoing maintenance each company requires and are contracted to sell policies only from the leading carriers licensed to do business in Arizona.

Because we are experienced and professional insurance brokers, we are able to serve all of your company’s health, dental, and vision insurance needs. And when you’re shopping for insurance coverage for your employees, you probably have several questions and concerns.

At J.C. Lewis Insurance Services, we welcome your questions about insurance coverage, and you can be confident that we will help you find the right solution.