Best Alaska Health Insurance Plans
Alaska is one of the leading states of the U.S. that give due significance to public health funding and it has been consistently making effort to reduce the risk associated with its people’s health.
With a good and strong public health funding, this state has accessible health care insurance plans for majority of its residents. Though, currently the political focus is on individual health insurance coverage and Medicaid but still half of Alaskans receive their health insurance from their employers. Alaska health insurance sector includes several avenues through which families and individuals may purchase health plans.
Top Health Insurance plan in Alaska
- Premera Blue Cross Blue Shield of Alaska
Premera Blue Cross Preferred Bronze 5800 HSA
Deductible $5800/yrCoinsurance5.3%Insurance Type PPOHSA Eligible Yes
- Moda Health
Moda Pioneer Bronze 6500
Deductible $6500/yrCoinsurance6.4%Insurance Type PPOHSA Eligible No
- Premera Blue Cross Blue Shield of Alaska
Premera Blue Cross Preferred Bronze 6350
Deductible $6350/yrCoinsurance5.1%Insurance Type PPOHSA Eligible No
- Moda Health
Moda Pioneer Bronze HDHP 5500
Deductible $5500/yrCoinsurance8%Insurance Type PPOHSA Eligible Yes
- Premera Blue Cross Blue Shield of Alaska
Premera Blue Cross Preferred Gold 1500
Deductible $1500/yrCoinsurance4.1%Insurance Type PPOHSA Eligible No
Residents of Alaska, who don’t have access to employer-sponsored coverage can shop for health plans in private marketplace and also through the federal marketplace exchange. Residents of Alaska without access to employer-sponsored health plans can shop for plans in the private marketplace and also through the federal marketplace exchange, as the state provides a range of benefits through diverse plans. Alaska is one of the states that opted to use the federal health insurance marketplace and has leave the marketplace responsibility in the hands of the federal government. If you are without insurance from your employer and looking for individual or family health insurance in Alaska then you must consider the whole range of insurance products available in the state in order to pick the best option for you. Those who are eligible can apply for public health plans like Medicaid and CHIP.
Highlights and Updates from Alaska Health Insurance Marketplace
- Open enrollment period for the 2020 in Alaska is from November 1 to December 15, 2019.
- Moda insurance carrier will rejoin the Alaska exchange for selling plans in 2020.
- The premium rates has considerable dropped in the year 2019 after a sharp drop in 2018.
- In Alaska thirteen private insurers offer Medigap plans and the state’s High Risk Pools offers Medigap coverage to those who aren’t eligible for private plans.
- Residents of Alaska need a qualifying event to enroll if they try to enroll outside the open enrollment window.
- Since 2017 Premera has been the sole insurance carrier in Alaska federal marketplace.
- In Alaska short-term health plans may have initial terms of up to 364 days.
Shop for the Best and Affordable Health Insurance Coverage in Alaska
The cheapest and affordable health insurance plan is desired by one and all that will meet the healthcare needs of the people at the time of medical emergencies. Residents of Alaska while shopping for the cheapest health insurance plan should know that the cost of the health insurance will depend upon their age, level of income, expected medical expenses, and their county of residence. Since the state has not approved to expand Medicaid coverage under the Affordable Care Act, so Medicaid plan is available to residents whose income levels fall below 138% of the federal poverty level.
The rest of the residents who do not qualify for Medicaid, they can shop for individual and family health insurance plan from the Alaska health insurance marketplace. The state is known to have the highest health insurance premium in the country mainly due to the state’s rugged and remote geography, small health insurance marketplace, and a high living cost that results in higher premiums of health plans. Besides, a few healthcare facilities are available in Alaska, so the residents of this state mostly have to visit emergency rooms compared to the residents of the other states. However, all these doesn’t mean that finding cheaper health plans in Alaska is not possible, as Alaskans can seek help from health insurance experts like InsureMeNow, who is operating with the sole intention to help people find cheap and affordable health insurance, irrespective of their age, location, and health conditions.
Cheapest Health Insurance Plan by Metal Tier in Alaska
Residents of Alaska have several healthcare options and there are several ways through which Alaskans can access cost-effective and economical health insurance plans. Health insurance options on the Alaska marketplace are broken down into three metal-tiers namely Gold, Silver, and Bronze. Health plans in these tiers come with different levels of premiums, deductibles, and out-of-pocket expenses. Health plans in the higher metal tier like Gold have higher premiums and lower deductibles that reduce beneficiaries’ medical expenses when the healthcare is required.
Luckily, the residents of the state will not find challenging to have a cheap and economical health plan. All the residents who don’t have access to employer-sponsored health coverage and who don’t qualify for Medicaid plans can find the cheapest health insurance plan with the help of experts like InsureMeNow. This pioneer health insurance portal compared different health plans in each metal-tier to determine the cheapest plan in each metal-tier in Alaska.
|Metal Tier||Cheapest Plan||Insurance Carrier||Monthly cost for a 40-year-old||Maximum out-of-pocket||Deductible|
|Expanded Bronze||Moda Pioneer Bronze 6500||Moda||$433.00||$7,350.00||$6,500.00|
|Silver||Moda Pioneer Silver 4500||Moda||$683.00||$7,350.00||$4,500.00|
|Gold||Moda Pioneer Gold 1500||Moda||$621.00||$6,000.00||$1,500.00|
Alaska Individual health Insurance
Like most of other states, Alaska also have limited guaranteed access to individual health insurance. In order to find the best and affordable health insurance plan that fit your personal needs you need to carefully read and compare them. Individual plans in Alaska can count any condition for which you can receive advice, diagnosis or treatment in the individual coverage. Your premium amount of the plans will depend upon your health status and some of the plans even have eliminated riders for certain pre-existing conditions. The state has also guaranteed the renewal and you cannot be denied coverage in case if you become ill and all your premiums are paid. Individuals can also receive health insurance coverage through state’s income based health insurance programs offered by government subsidized programs. Alaska residents have three options for purchasing health insurance other than through employer or union plans:
- Private Health Insurance
- Health Insurance through Income Eligible Programs
- Health Insurance through High Risk Pools
Short-term health insurance in Alaska
Since the state of Alaska does not have specific regulations in terms of short-term health insurance plans duration it follows federal new short-term rules. You can enroll in short-term plans with initial terms of up to 364 days that have a renew option of up to 36 months. The short-term plans in Alaska can be availed for as little as $50 a month. While the state has not mandated benefits or limit the duration or renew ability for short-term plans but there are some state-based rules which the short-term plans should follow. Some of such rules include:
- Prompt payment of claims
- Short-term plans rates and forms must be filled and approved by the Alaska Division of Insurance
- 80th percentile rule for out-of-network providers
The Average cost of Health Insurance by Family Size in Alaska
Besides the applicant’s age, county of residence, and medical condition, health insurance costs also depend upon the applicant’s family size. The average monthly health insurance cost of one adult in Alaska is $728, and the average health insurance cost of a child under the age of 15 is $436. Thus, it can be said that the average cost of health insurance for a family of five-smember will be comparatively more than the average cost of health insurance for a family of three. Find below the table showing the average monthly cost of the health plans depending upon the size of the family.
|Family Size||Average Monthly Cost of Health Plan|
|1 Adult + 1 Child||$1,164.00|
|Couple of age 40-year||$1,456.00|
|1 Couple + 1 Child, a Family of three||$1,892.00|
|1 Couple + 2 Children, a Family of four||$2,328.00|
|1 Couple + 3 Children, a Family of five||$2,763.00|
Insurers offering short-term plans in Alaska
Five insurance carriers have licensed and are allowed by the Alaska Division of Insurance to sell short-term plans in the state. Though, only Independence American Life is actively engaged in selling short-term plans but these plans can be sold by all these five carriers:
- HCC Life Insurance Company
- Independence American Life
- National General (National Health Insurance Company)
- Standard Security Life
- United States Fire Insurance Company
Few websites that are dedicated for short term health insurance plans only have fixed indemnity plans, which is quite different from short-term health plans in terms of design. Though, both types of coverage are excepted benefits which means that they are not regulated by the ACA.
FAQ on Alaska Health Insurance
Even though there is no tax penalty in the state for not having health insurance, still you should think hard before going uninsured in Alaska. A medical crisis could anytime knock at your door and can do more damage in your life compared to the penalty. You can use the website Healthcare.gov to select ad purchase a health plan, apply for cost-saving tax credits, and can also get other help if required. In Alaska, the open enrollment period has ended but if you recently lost job or income due to the COVID-19 crisis or due to any reason, then you may qualify for a special enrollment period that allows you to sign up for a new health plan or change your current plan.
Alaska residents have plenty of health insurance options, so whether they are looking for a plan from a specific health insurance carrier or wish to purchase a specific type of plan, people are sure to find the right plan. Some of the ways through which residents in Alaska can obtain health plan is through the Alaska exchange, through an employer’s plan, government-funded programs like CHIP and Medicaid, directly from a private insurance provider, or through health insurance marketplaces like InsureMeNow. This leading health insurance portal helps residents of Alaska to compare plans and benefits and obtain a better health plan at the lowest cost.
The average cost of health insurance for the 2020 plan year in Alaska is $614 per month for a 40-year old person. There is a nearly 8% decrease in the average cost of health insurance since 2018.
In the Alaska state health insurance exchange, there are only two health insurance companies, Blue Cross Blue Shield of Alaska and Moda Assurance Co. Thus, residents of the state will have a little flexibility for comparing plans offered by the two health insurers. Residents are recommended to go with Moda Assurance, as this carrier is known to offer the cheapest plans in all metal-tiers.
If you are on the mission to find the best health insurance plan in Alaska, then you should know that the best health insurance plan depends on your income, expected medical expenses, and the county in which you live. Alaska has also expanded Medicaid coverage under the Affordable Care Act, thus Medicaid is available to anyone having income below 138% of the federal poverty level. The health insurance plans available on the marketplace are broken down into different metal tiers, where every metal-tier have different premiums, deductibles, and out-of-pocket costs. Plans in higher metal tiers have high premiums but come with a lower deductible.