Health Insurance Companies in Alaska: A Comprehensive Consumer Guide

Alaska's unique healthcare landscape means you'll need a solid understanding of the health insurance options available to you. Aetna is one of the major players, offering a range of plans to suit different needs and budgets.

If you're looking for a more affordable option, consider Aetna's bronze plans, which have lower premiums but higher out-of-pocket costs.

In Alaska, the open enrollment period typically runs from November to December, but you may be eligible for special enrollment if you experience a qualifying life event.

In Alaska, you can purchase individual and family health insurance plans through the Health Insurance Marketplace, also known as an "exchange". This is run through the federal government and can be accessed through healthcare.gov.

You can buy these plans if you live in Alaska, are lawfully present in the U.S., are not incarcerated, and are not enrolled in Medicare. However, to qualify for financial assistance, such as premium subsidies and cost-sharing reductions, you must meet stricter rules based on your income and employer coverage.

There are only two insurance companies that offer plans for 2025 in Alaska's health insurance Marketplace: Premera Blue Cross Blue Shield of Alaska, which offers coverage statewide, and Moda Assurance, which only offers plans in the Anchorage and Fairbanks areas.

To enroll in a plan, you'll need to use healthcare.gov and apply for coverage. You'll also find out if you qualify for Medicaid, the Children's Health Insurance Program (CHIP), or other income-based discounts. If you're eligible for financial assistance, you may qualify for cost-sharing reductions that will further reduce your out-of-pocket costs.

Here are some examples of cost savings with subsidies:

Keep in mind that to qualify for these subsidies, you must not have access to affordable health coverage offered by an employer, and you must file a joint tax return with your spouse (with limited exceptions).

If you're 65 or over, or have a long-term disability, you're likely eligible for Medicare. Almost one in eight Alaska residents receives Medicare benefits, and about 20% of those also enrolled in Medicaid.

There are two types of Medicare coverage: Original Medicare and Medicare Advantage plans. In Alaska, 99% of Medicare beneficiaries choose Original Medicare, which provides hospital insurance (Part A) and medical insurance (Part B).

Medicare Advantage plans, on the other hand, offer additional benefits like prescription drug coverage, but as of 2020, no companies in Alaska are offering these plans.

If you have Original Medicare, you can also buy a Medigap policy, which pays the portion of medical expenses that Medicare doesn't cover. There are 10 standardized Medigap plans, but premiums vary by company.

Here's a rough idea of what you might expect to pay for a Medigap policy in Alaska: a Plan G policy at age 65 can cost from $117 to $213 monthly, depending on your gender, smoking habits, health, and the company you choose.

If you're under 65 and can't get insurance outside of the Open Enrollment Period, you may qualify for coverage through the Alaska Comprehensive Health Insurance Association (ACHIA).

If you're an American Indian or Alaska Native, you have unique coverage options through the Alaska Area Indian Health Service (IHS) and tribal programs. The IHS provides comprehensive health services to 175,000 Alaska Natives, but enrolling in health coverage through the Marketplace, Medicaid, or CHIP can give you better access to services that might not be available otherwise.

You can also consider adding dental coverage to your health insurance plan, which can be a smart investment for improving your smile. Dental insurance may be a good option to explore in Alaska.

As an employer, you have three core options for offering health insurance to your employees: traditional small business health insurance coverage, a defined contribution health plan that reimburses employees for individual health insurance coverage, or offering nothing at all.

The Alaska Area Indian Health Service works in conjunction with Alaska Native Tribes and Tribal Organizations to provide comprehensive health services to 175,000 Alaska Natives.

You have better access to services that may not be provided by the Indian Health Service, tribal programs, or urban Indian programs if you enroll in health coverage through the Marketplace, Medicaid, or CHIP.

Enrolling in these programs does not give up your IHS benefits, and you also enjoy special cost and eligibility rules.

Dental insurance can be a smart addition to your health coverage, especially if you're looking to improve your smile.

If you live in Alaska, you may want to explore dental coverage options specifically tailored to your needs.

Hoping to improve your smile in Alaska? Dental insurance may be a smart addition to your health coverage.

Dental insurance can be a valuable investment for anyone looking to maintain good oral health.

Our guide explores dental coverage options in Alaska, helping you make an informed decision about your smile.

If you're looking for a plan that lets you save money for medical expenses, HSA-qualified plans are a great option. These plans are designed specifically for use with Health Savings Accounts (HSAs).

HSA-qualified plans are typically PPO plans, and they come with some unique benefits. For example, there's a maximum 6-month look-back/12-month exclusionary period for pre-existing conditions on enrollees without prior coverage.

One of the benefits of HSA-qualified plans is that they cover pre-existing health conditions. This means you can get the care you need without worrying about being turned down due to a pre-existing condition.

If you're considering an HSA-qualified plan, it's worth noting that benefits will vary depending on the chosen plan. Be sure to research and compare different options to find the one that best fits your needs.

Indemnity plans give you the freedom to choose your own healthcare and visit any doctor or hospital you want. You'll pay a set portion of the total charges, and then the insurance company will reimburse you.

With individual plans, you'll have assorted options depending on your medical needs. There's a 60-month look-back period and a 24-month exclusion period for pre-existing conditions, but some plans may have different limits.

COBRA coverage is available for 18-36 months, depending on the qualifying event. You'll get the same benefits you had with your previous employer, and pre-existing health conditions are covered.

Group plans offer guaranteed coverage for companies with 2-50 employees. Eligible employees must work at least 30 hours a week, and the owner can count as an employee if they draw wages from the company.

Here are some key differences between individual and group plans:

The costs for individual plans vary, and there are no rate caps. COBRA costs range from 102% to 150% of the group health rate. Group plan costs depend on the employer contribution and the insurance company's Index rate, plus 20%.

HMO plans offer a wide range of health care services through a network of providers that contract exclusively with the HMO.

You'll typically need to select a primary care physician, who will provide most of your health care and refer you on to specialists as needed.

In Alaska, small businesses have three primary options for health insurance: offering traditional small business health insurance coverage, a defined contribution health plan, or offering nothing.

There are two primary categories of health insurance for small businesses to choose from: Group Health Insurance and other options.

Group health insurance plans are a form of employer-sponsored health coverage, where costs are typically shared between the employer and the employee, and coverage may also be extended to dependents.

Group health insurance plans offer HIPAA premium assistance, which pays employer-sponsored health insurance or Cobra premium, and covers pre-existing health conditions.

Here are some details about HIPAA premium assistance in Alaska:

Cost is a significant factor to consider when it comes to small business and group plans in Alaska. Premiums for qualified bronze and gold plans fell more than 17% from 2018 to 2020, with the cost of premiums for silver plans remaining the same.

The average monthly costs for a 40-year-old Alaskan for bronze, silver, and gold plans sold through the state's Marketplace are as follows:

If you're looking for affordable health insurance in Alaska, you can find it by shopping on the ACA Marketplace/exchange, also known as HealthCare.gov. The federal government uses a "benchmark" silver plan to calculate subsidies, which has remained constant since 2018.

In 1999, Alaska expanded its Medicaid program to cover uninsured children up to age 19 whose parents earn too much to qualify them for Medicaid. Today, CHIP funds part of Denali KidCare.

This program serves as an example of how states can work to provide healthcare coverage to children who might otherwise fall through the cracks.

As a small business owner in Alaska, you have several options to consider when it comes to health insurance for your employees.

You can offer traditional small business health insurance coverage, which is a common choice for many businesses. However, it's essential to compare the costs and benefits of this option with others.

You also have the option of offering a defined contribution health plan that reimburses employees for individual health insurance coverage. This type of plan allows employees to choose their own health insurance plan, which can be beneficial for those with unique needs.

Another option is to offer nothing, but this may not be the most appealing choice for your employees.

Here are the three core options to consider:

Group health insurance plans are another option to consider. These plans allow costs to be shared between the employer and the employee, and coverage may also be extended to dependents.

In Alaska, the average per person monthly premiums in the individual market in 2010 were available, but unfortunately, that data is not included in the provided examples.

Defined Contribution Plans, on the other hand, allow employers to offer health benefits without offering a traditional group health insurance plan. This can result in savings for both the employer and employee.

Some key features of Defined Contribution Plans include:

It's worth noting that RISQ Consulting can help individuals, families, and businesses in Anchorage choose the right health insurance plan, but that's a topic for another time.

PPO plans are the most common type of health insurance for small businesses and groups. They require employees to receive medical care from doctors or hospitals on the insurance company's list of preferred providers for claims to be paid at the highest level.

Pre-existing health conditions are covered under PPO plans, providing employees with peace of mind. HIPAA benefits are based on the program selected, and there is no expiration of coverage.

The state average premium for PPO plans varies, with Alaska not providing a specific average premium. In the US, the average premium is $215.

Alaska defaults to federal rules for short-term plans. This means that short-term plans issued or sold in the state are subject to federal regulations.

In Alaska, short-term plans have a maximum duration of no more than four months, including renewals. This is the same as the federal rule that applies to all states.

As of 2024, there is at least one insurer that offers short-term health plans in Alaska, but they are currently unavailable due to regulatory review.

There are two insurance companies that offer plans for 2025 in Alaska's health insurance Marketplace: Premera Blue Cross Blue Shield of Alaska, which offers coverage statewide, and Moda Assurance, which only offers plans in the Anchorage and Fairbanks areas.

Premera Blue Cross Blue Shield of Alaska is one of the two health insurance companies that sell individual policies to Alaskans through healthcare.gov, the other being Moda Assurance.

You can find affordable health insurance in Alaska by shopping on the ACA Marketplace/exchange (HealthCare.gov), where 87% of Alaska Marketplace enrollees were receiving premium subsidies as of early 2024.

There are only two insurance companies that offer plans for 2025 in Alaska's health insurance Marketplace. Premera Blue Cross Blue Shield of Alaska offers coverage statewide, but Moda Assurance only offers plans in the Anchorage and Fairbanks areas.

For 2022, two health insurance companies sold individual policies to Alaskans through healthcare.gov: Premera Blue Cross Blue Shield of Alaska offered statewide coverage, while Moda Assurance was limited to specific locations.

If you live in Alaska, you can purchase coverage and possibly qualify for subsidies through Alaska's Health Insurance Marketplace, which is run through the federal government. You'll use healthcare.gov to apply for and enroll in coverage.

In Alaska, nearly nine out of 10 ACA enrollees in 2020 received help in the form of subsidies called Advanced Premium Tax Credits (APTC). These monthly subsidies averaged $669.

Here are some examples of cost savings with subsidies:

Aurora National is an Anchorage-based company that provides insurance assistance for a wide range of clients.

The company was purchased by Lynnette Wood in 2012, marking a significant milestone in its history.

For over 20 years, Aurora National has been solving insurance problems for individuals, small businesses, and corporations.

The team is dedicated to educating clients to understand their chosen policies.

Aurora National can assist with health insurance queries, such as deductibles, co-pays, and co-insurance.

The company also offers Medicare supplements and disability insurance services.

You can enroll in Alaska's Health Insurance Marketplace through healthcare.gov, but the open enrollment window is limited to November 1 to January 15. To sign up for coverage starting on January 1, you must enroll by December 15.

You can still make plan changes or enroll in the Marketplace beyond the open enrollment window, but you must qualify for a special enrollment period (SEP) due to a qualifying life event.

To enroll in an Alaska Marketplace health plan, you can go online to healthcare.gov, dial the Marketplace Call Center, contact an agent or broker, or enroll through an approved enhanced direct enrollment entity.

If you miss the open enrollment deadline and don't have a qualifying life event, you may still be able to apply if you meet certain criteria, such as having an income below 150% of the poverty level and qualifying for premium tax credits.

At least one insurer, Moda Health, offers short-term health insurance plans in Alaska, but they have said that for effective dates starting on September 1, 2024, their plans are "temporarily unavailable, pending regulatory review."

If you earn between one and four times the federal poverty level, you may qualify for help paying your premiums through subsidies called Advanced Premium Tax Credits (APTC). In 2020, nearly nine out of 10 ACA enrollees in Alaska received help in the form of APTC, which averaged $669 per month.

Here are some examples of cost savings with subsidies:

Only two insurance companies offer plans for 2025 in Alaska's health insurance Marketplace: Premera Blue Cross Blue Shield of Alaska, which offers coverage statewide, and Moda Assurance, which only offers plans in the Anchorage and Fairbanks areas.