How insurance companies are selling health coverage to the rich and poor
If you’re a wealthy individual or an individual with a business, you may have a new insurance company that may be more affordable to you than the old one.
In a series of articles published on Monday, Reuters Businessweek and The Wall Street Journal, The Wall Streets Journal and Reuters Business Week, The Guardian Life Insurance Group and Guardian Dental Insurance Group, respectively, detailed how the insurance companies they own are selling plans to the public.
Guardian Life insurance is owned by The Guardian Group and is the largest provider of health insurance in the United States, according to a spokesperson for the company.
In 2018, Guardian Life was valued at $1.2 billion.
Its average annual return is 15.9%.
In 2018 the average annualized premium for a policy in the U.S. was $6,832.
Guardian Doral is owned the same way.
The average annual premium for Guardian Life plans was $1,845.
Guardian dental insurance is valued at a whopping $3.4 billion.
The median annual premium was $11,637.
Guardian life insurance is currently owned by Guardian Life Insurers, Inc., which is a subsidiary of Anthem Inc. Anthem is the parent company of American Express, MasterCard, Discover, and Visa.
Guardian Insurance Group has been valued at over $8.7 billion.
Guardian Health Insures, Inc. was valued $1 billion in 2018, according the Reuters article.
Guardian Care Protection Group was valued in 2018 at over 1 billion, Reuters reported.
Guardian Insured Companies Inc., the parent of Guardian Life, Guardian Health, and Guardian Care, is also owned by Anthem, Reuters said.