The nation's largest payers have filed their fourth-quarter earnings reports, revealing which recorded the largest revenues in 2023.
1. UnitedHealth Group: $371.6 billion
Total revenues in 2023 were $371.6 billion, up 14.6% year over year. Total revenues at UnitedHealthcare in 2023 were $281.4 billion, up 12.7% year over year.
2. CVS Health: $357.8 billion
Total revenues in 2023 were $357.8 billion, up 10.9% year over year. Total revenues at Aetna in 2023 were $186.8 billion, up 10.2% year over year.
3. Cigna Group: $195.3 billion
Total revenues in 2023 were $195.3 billion, up 8% year over year. The insurance side of the business, Cigna Healthcare, reported 2023 revenues of $51.1 billion, up 14% from the previous year.
4. Elevance Health: $171.3 billion
Total revenues in 2023 were $171.3 billion, up 9.4% year over year. Total operating revenue in the insurance division for 2023 was $170.2 billion, up 9.3%.
5. Centene: $154 billion
Total revenues in 2023 were $154 billion, up 6.5% year over year.
6. Humana: $106.4 billion
In 2023, total revenues were $106.4 billion, up 14.5%. The insurance division made up the large majority of 2023 revenues, recording $102.9 billion in 2023.