Unlike other parts of the country, living in Alaska has a different level of challenge. This is mostly due to the weather condition of the place, fewer industries, and limited modern professions. As far as health insurance is concerned, the health insurance exchange is controlled by the federal government of the country. However, Alaskans have some attractive options to choose from. So, choose the right health insurance plans in Alaska, if you are living in this extreme northwest state of the U.S.
Features of the Health Insurance Market in Alaska
You can get health insurance in Alaska, if you are an entrepreneur having a small business, you’re working for a registered organization, or if you are unemployed. Following a few features of the health insurance market of the state worth knowing:
- The federal government of the country runs the health insurance exchange of the state. It’s one of the fewer states that completely depend on the federal government for running the health insurance exchange.
- The residents of the states need to enroll for any health insurance through HealthCare.gov.
- The enrolment window opens for a definite period of time each year for the enrolment of buyers for the next financial year. For example, the enrolment window for 2021 will open in November 2020.
- Medicaid coverage under the Affordable Care Act is permitted in the state of Alaska. Medicaid offers health coverage and long-term healthcare services for low-income citizens.
Short-term health insurance plans in Alaska
Alaska doesn’t have state-specific principles regarding the duration of short-term health insurance coverage. Hence, federal short-term health insurance rules prevail in this state. Insurers can offer 364 days’ short-term health insurance plans with an option of a maximum of 36 months’ renewal.
Health insurance rates have lowered in Alaska over the years
The health insurance rates are decided by the insurers subject to the approval of the federal health insurance exchange in Alaska. In 2020, expanded Bronze and Gold health insurance rates have declined by almost 12% on an average, only Silver plans have remained almost flat over the past two years. So, it’s good news for Alaskans who are reviewing and comparing the plans available to them to choose the right health insurance plans in Alaska.
Cost of Health Insurance in Alaska
Like any other part of the country, health insurance premiums in this state are also based on the personal profile of individuals including age, insurance amount, and previous medical history. Insurance premium rates are highest among all states of the USA. Several factors are influencing the premiums like very limited insurance market, limited healthcare facility, remote location, and high-cost medical services. With the right and affordable insurance plan, you can keep your entire family safe and enjoy complete peace of mind.