The Fastest Paying Insurance Companies

Your job, as a medical provider, requires you to stay up to date on various health insurance companies and their policies. This is an essential and important task to fulfill, but that’s not to say it’s an easy one. Instead, it can prove difficult to keep track of the varying companies from United Healthcare to Aetna, Humana, Tricare, and many more—which is exactly why we’re here to help. We asked 10 medical billers a series of survey questions, regarding their experience with an assortment of prevalent insurance companies, to provide you with meaningful information about these insurers. One of those questions was: Which insurance company is most likely to pay a claim quickly? The results are as follows…

Those surveyed were given 9 major insurance companies to choose from, as well as the option to write in a company not listed. However, an overwhelming 80% said that the second choice Blue Cross Blue Shield is the fastest paying insurance company. The remaining 20% said that Cigna is the fastest paying insurance company.

Let’s revisit what these companies and their cultures are all about. Here’s a brief look at Blue Cross Blue Shield and a quick glance at Cigna:

Blue Cross Blue Shield companies got their start in 1929 and have provided healthcare coverage to countless members and communities ever since. They work closely with hospitals and doctors all across the US, as over 96 percent of hospitals and 93 percent of doctors/specialists contract with Blue Cross Blue Shield companies—an accomplishment no other insurer can boast of.

This insurer takes their corporate role and responsibility seriously, “building and supporting programs that positively impact healthcare in communities across America.” Furthermore, they strive to allow their clients to live fearlessly by providing them with quality and affordable healthcare. And lastly, the majority of medical billers surveyed said that Blue Cross Blue Shield is the fastest paying insurance company of those listed, and therefore, a great company to work with.

Cigna was launched over 200 years ago, but has since become the company we all know today in 1982 after its merge with INA Corporation and Connecticut General Corporation. Today, the company helps clients in 30 different countries and jurisdictions, and maintains more than 95 million customer relationships. Their goal is to provide great service and, in turn, help people lead healthy, secure lives.

The Cigna team strives to work with customers in a proactive, personal, and empathetic way—that which will create a true partnership, one that doesn’t revolve solely around paying claims. These team members help customers stay healthy, gain access to quality health care, recover from serious illnesses or injuries, and provide for their families. They are “with them all the way, through the most critical points in their lives.” And lastly, they pay claims quicker than many other companies, according to 20 percent of medical billers surveyed.

Once a medical insurance company has received a claim, they first analyze it to understand what type of care an individual was given, and then they apply one’s benefits accordingly. Still, sometimes certain insurers pay claims more quickly than others; and according to the 10 medical billers we surveyed, the two fastest paying insurance companies are Blue Cross Blue Shield and Cigna. These results are certainly worth considering, however they should not make or break your partnership with any of the above insurers—there are plenty of other significant factors to weigh regarding the companies you work with on a daily basis.

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