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The number of Americans covered by employer-provided health insurance declined from 70.1% in 1987 to 59.0% in 2009 according to the Employee Benefit Research Institute. The downward-trend in employer-provided insurance means that more people are having to find alternatives for healthcare coverage and hunting for cheap health insurance. Non profit health insurance companies are an option that many people are unfamiliar with, but which can provide some important benefits. Read on to learn more about non profit health insurance companies (sometimes called co op health insurance) and how they can provide solutions for cheap health insurance.
What Is Non Profit Health Insurance?
Just like regular health insurance, non profit health insurance provides you with coverage for healthcare and other medical expenses. The difference is that the non profit health insurance companies don’t operate to make a profit for their shareholders, they operate to provide services to its members. Another difference is that many nonprofit health insurance networks are more focused on primary care and preventative care than other types of insurance providers. If your priority is cheap health insurance for basic coverage, non profit health insurance may be a good option for you.
How Does Non Profit Health Insurance Work?
There is really no difference between how non profit and for profit health insurance companies work. Non profit health insurance companies require you to pay a monthly premium in order to remain covered under their policies. With non profit health insurance plans, just like for profit plans, you will most likely have out-of-pocket expenses like you would on any regular plan. These expenses typically include your deductible, copay, and coinsurance. You can learn more about out-of-pocket expenses here.
Non Profit Health Insurance Companies
According to Alliance for Advancing Nonprofit Health Care’s most recent report, about 63% of U.S. health plans with over 100,000 enrollees are nonprofit. Many of these providers are limited to a specific region. Also, some of the network health insurance plans may be for profit in some areas and nonprofit in others, like BlueCross BlueShield. Below is a list of major non profit providers from the AANHC's directory:
- American Postal Workers Union Health Plans
- AmeriHealth Mercy/Independent Blue Cross
- Arkansas BlueCross BlueShield
- AultCare Health Plans
- AvMed, Inc
- Blue Cross & Blue Shield of Mississippi
- Blue Cross & Blue Shield of Rhode Island
- Blue Cross and Blue Shield of Alabama
- Blue Cross and Blue Shield of Florida, Inc.
- Blue Cross and Blue Shield of Kansas
- Blue Cross and Blue Shield of Kansas City
- Blue Cross and Blue Shield of Louisiana
- Blue Cross and Blue Shield of Minnesota
- Blue Cross and Blue Shield of Montana
- Blue Cross and Blue Shield of Nebraska
- Blue Cross and Blue Shield of North Carolina
- Blue Cross and Blue Shield of Vermont
- Blue Cross Blue Shield of Arizona
- Blue Cross Blue Shield of Delaware
- Blue Cross Blue Shield of Massachusetts
- Blue Cross Blue Shield of Michigan
- Blue Cross Blue Shield of North Dakota
- Blue Cross of Idaho Health Service, Inc.
- Blue Cross of Northeastern Pennsylvania
- Blue Shield of California
- BlueCross BlueShield of South Carolina
- BlueCross BlueShield of Tennessee
- BlueCross BlueShield of Western New York and BlueCross BlueShield of Northeastern New York
- Bluegrass Family Health, Inc.
- Boston Medical Center HealthNet Plan
- Capital Blue Cross
- Capital District Physicians Health Plan, Inc.
- CareFirst Blue Cross Blue Shield
- CareSource, Inc.
- Community Health Group
- Community Health Network of Connecticut, Inc. (CHNCT)
- Community Health Plan of Washington
- Cook Children's Health Plan (CCHP)
- EmblemHealth, Inc.
- Fallon Community Health Plan
- Family Health Partners
- Fidelis Care, Inc.
- Geisinger Health Plan
- Government Employees Health Association (GEHA)
- Group Health Cooperative
- Harvard Pilgrim Health Care, Inc.
- Hawaii Medical Service Association
- Health Alliance Plan of Michigan
- Health Care Service Corporation
- Health Partners of Philadelphia
- Health Plus (PHSP), Inc.
- HealthPartners, Inc.
- HealthPlus of Michigan, Inc.
- Highmark, Inc.
- Hometown Health Plan, Inc.
- Horizon Blue Cross Blue Shield
- Hudson Health Plan
- Independent Health Association, Inc.
- Inland Empire Health Plan
- Kaiser Permanente
- Kern Health Systems, Inc.
- Lifetime Healthcare Companies
- Maryland Physicians Care (MPC)
- McLaren Health Plan
- Medica Health Plans
- Medical Mutual of Ohio
- MVP Health Care Preferred Care
- Neighborhood Health Plan, Inc.
- Paramount Care, Inc. (ProMedica Health System)
- Parkland Community Health Plan
- Partnership Health Plan of California
- Phoenix Health Plan/Abrazo Advantage
- Premera, Inc.
- Priority Health
- Priority Partners
- Providence Health Plan
- Rocky Mountain Health Plans
- SCAN Health Plan
- Scott and White Health Plan
- Security Health Plan of Wisconsin, Inc.
- Sentara Health Plans, Inc.
- Texas Children's Health Plan
- The Chartered Health Plan Inc.
- The Regence Group
- Trustmark Companies
- Tufts Associated Health Plans, Inc.
- UAW Retiree Medical Benefit Trust
- University Health Care Health Plans
- UPMC Health Plan, Inc.
- Virginia Premier Health Plan, Inc.
- Wellmark, Inc.
”Non Profit” Vs. “For Profit” Health Insurance
Corporate “for-profit” health insurance companies are businesses owned by shareholders, and have a fiscal responsibility to their shareholders to make profits. This means that they may reduce benefits, decline coverage, or charge higher premiums to grow their financial returns year over year. Non profit health insurance companies, on the other hand, do not have these kinds of investor-related issues.
Instead of annual profits being paid out to shareholders, those funds are re-invested into the non profit organization to help them fulfill their mission of providing health insurance services. Consumer Reports analyzed private health insurance plans in the US and found that the top-ranking plans were run by nonprofit providers. When comparing health insurance quotes, you'll probably notice that non profit insurance plans also provide more coverage for your primary care visits and preventative healthcare services.
Where To Find Non Profit Health Insurance Quotes And More
Non profit insurance companies are growing in popularity. You can find out if there are non profit health insurance providers that cover your area and get health insurance quotes for their services here through First Quote Health.
If you’re looking for a new health insurance provider - or cheap health insurance plans that don't break the bank - make sure to include nonprofit options in your health insurance quotes. You'll likely find better coverage for primary and preventative care at a lower price than corporate insurance plans.