Cheapest Health Insurance in Alaska (2024 Plans)
Compare Rates and Save on Car Insurance
By, Content Director
In Alaska, Moda offers the most affordable plans across Bronze, Expanded Bronze, Gold and Silver tiers. Selecting metal tiers beyond Silver affects your health insurance costs.
If you are looking to balance monthly premiums with quality claims and coverage, MoneyGeek analyzed the best health insurance in Alaska.
Most Affordable Health Insurance in Alaska
Cheapest Health Insurance in Alaska by Metal Tier
The most cost-effective option in the Silver tier in Alaska is the Moda Pioneer Alaska Standard Silver offered by Moda at a monthly rate of $861. Silver plans as the most commonly selected type. For individuals interested in lower monthly premiums, albeit with potentially higher out-of-pocket expenses, Bronze plans are an alternative.
Health insurance premiums are contingent on the metal tier, with higher tiers generally commanding larger premiums in exchange for reduced out-of-pocket costs and lower deductibles.
Here are the most affordable health insurance plans from each metal tier:
- Bronze: Moda Pioneer Bronze 5500 ($559 per month)
- Expanded Bronze: Moda Pioneer Alaska Standard Bronze ($525 per month)
- Silver: Moda Pioneer Alaska Standard Silver ($861 per month)
- Gold: Moda Pioneer Gold 1500 ($786 per month)
For more information on finding cheap health insurance, explore your options and consider both the premiums and potential out-of-pocket costs.
In the Alaska health insurance marketplace, individuals have the choice of various metal tiers: Bronze, Expanded Bronze, Silver and Gold. Each tier represents a different level of cost-sharing between the insurer and the insured.
Bronze plans generally come with higher out-of-pocket expenses to offset lower premiums. The Moda Pioneer Bronze 5500 has a monthly cost of $559, with a maximum out-of-pocket cost (MOOP) of $9,250. Compare this with the cheapest Expanded Bronze in Alaska — Moda Pioneer Alaska Standard Bronze — with a monthly premium of $525 and a MOOP of $9,400.
Conversely, Gold plans, like the Moda Pioneer Gold 1500 with a $786 monthly cost, have higher premiums but significantly lower MOOPs at $6,000. This means that while you pay more monthly, you will likely pay less when receiving medical care.
The Silver tier, however, serves a unique purpose. These plans are eligible for cost-sharing reductions for those below 250% of the Federal Poverty Level. This financial assistance reduces copayments, co-insurance and deductibles, making health care more affordable for lower-income individuals and offering a balance between premiums and out-of-pocket costs. The Moda Pioneer Alaska Standard Silver has a monthly cost of $861 and maximum out-of-pocket of $9,100.
Cheapest Silver Plans in Alaska
The most reasonably priced option in the Silver tier for Alaskans is the Moda Pioneer Alaska Standard Silver plan offered by Moda, which has a monthly cost of $861.
The top three most cost-effective Silver plans in Alaska include:
- Moda Pioneer Alaska Standard Silver from Moda ($861 per month)
- Moda Pioneer Silver 4500 from Moda ($885 per month)
- Premera Blue Cross Standard Silver from Blue Cross Blue Shield ($969 per month)
Silver plans are particularly well-suited for individuals or families who expect moderate health care usage and prefer a balance between monthly premiums and out-of-pocket costs. For those with lower income, cost-sharing reductions available on Silver plans can significantly decrease the amount they pay when receiving care. Reducing deductibles, copayments and co-insurance make it more affordable for qualifying customers to access health services.
Cheapest Gold Plans in Alaska
The most affordable plan in the Gold tier for Alaska is the Moda Pioneer Gold 1500 offered by Moda, with a monthly cost of $786.
The three most affordable Gold health plans in Alaska are:
- Moda Pioneer Gold 1500 from Moda ($786 per month)
- Moda Pioneer Alaska Standard Gold from Moda ($787 per month)
- Premera Blue Cross Standard Gold from Blue Cross Blue Shield ($853 per month)
Gold plans are well-suited for individuals who expect to need medical care frequently or who wish to have more predictable health care costs with higher premiums and lower out-of-pocket expenses. Customers willing to pay a higher monthly premium for the peace of mind that comes with knowing their costs will be lower throughout the year might consider these plans ideal.
Cheapest Bronze Plans in Alaska
The most affordable Bronze plan in Alaska is the Moda Pioneer Bronze 5500 offered by Moda, with a monthly cost of $559.
Bronze plans are ideal for individuals who want to keep their monthly premiums low and don't expect to need a significant amount of health care services. These plans have higher out-of-pocket expenses when medical care is needed to compensate for the low monthly cost, making them a good fit for people who are generally healthy and want coverage for major emergencies.
Cheapest Expanded Bronze Plans in Alaska
The most affordable plan in the Expanded Bronze tier in Alaska is the Moda Pioneer Alaska Standard Bronze offered by Moda, with a monthly cost of $525.
For those in Alaska seeking cost-effective health care coverage, the three most affordable Expanded Bronze plans are:
- Moda Pioneer Alaska Standard Bronze from Moda ($525 per month)
- Moda Pioneer Bronze 6500 from Moda ($561 per month)
- Premera Blue Cross Standard Bronze II from Blue Cross Blue Shield ($633 per month)
Expanded Bronze plans are designed for customers who want lower monthly premiums while still receiving essential health benefits. These plans typically come with higher out-of-pocket expenses, making them suitable for those who are generally healthy and do not expect to need frequent medical care. They provide a safety net for major health issues while keeping monthly costs down.
Cheapest Health Insurance in Alaska for Those With Low Income
Residents of Alaska earning up to 250% below the Federal Poverty Level are eligible for cost-sharing reductions on Silver plans, which make health care more affordable by reducing deductibles and other out-of-pocket expenses.
The most affordable Silver plan for Alaskans with an income between $18,210 and $27,315 is the Moda Pioneer Alaska Standard Silver offered by Moda. This plan features a maximum out-of-pocket (MOOP) cost of $1,800. The lowest-priced plans with their respective out-of-pocket maximums are:
- Moda Pioneer Alaska Standard Silver from Moda (monthly cost: $861, MOOP: $1,800)
- Moda Pioneer Silver 4500 from Moda (monthly cost: $885, MOOP: $500)
Cost-sharing reductions are available only when purchasing a Silver plan in Alaska, and the income figures mentioned are for single individuals. Different thresholds apply for larger households.
Cost-sharing reductions (CSRs) are discounts that lower the amount you pay for deductibles, copayments and co-insurance. They are available to individuals and families with incomes between 100% and 250% of the Federal Poverty Level who enroll in Silver plans.
For example, without CSRs, the maximum out-of-pocket cost (MOOP) for the Moda Pioneer Alaska Standard Silver plan could be $7,200. However, with high-level CSRs (94% AV Level), the MOOP might drop significantly to $1,800, demonstrating the substantial potential savings for eligible enrollees.
Cheapest Health Insurance in Alaska by Plan Type
In Alaska, the Preferred Provider Organization (PPO) is the most common plan type. The most affordable health plan in Alaska for a PPO is the Moda Pioneer Alaska Standard Silver with a monthly cost of $861.
PPO plans provide flexibility in choosing health care providers.
The most common health insurance plan type in Alaska is the Preferred Provider Organization (PPO) plan. PPOs offers flexibility in choosing health care providers by allowing policyholders to visit any health care provider within the network without a referral and often provide some level of coverage for out-of-network providers.
But PPOs typically come with higher premiums compared with other plan types. Out-of-network care, while covered to some extent, will still be more expensive than in-network services.
Cheapest Health Insurance in Alaska by County
Health insurance rates and availability of certain plans varies by ZIP code in Alaska.
Comparing the most affordable plans in the largest and smallest counties by population shows this variation in prices:
- Zip Code Starting With 995: Moda Pioneer Alaska Standard Silver from Moda ($840 per month)
- Zip Code Starting With 997: Moda Pioneer Alaska Standard Silver from Moda ($883 per month)
The following table displays all available health insurance plans in each ZIP code in Alaska.
Health Insurance Costs in Alaska by Age and Metal Tier
In Alaska, an 18-year-old with a silver plan pays $662 a month. A 60-year-old pays much more for the same plan, with a monthly cost of $1,967. That's a difference of $1,305, showing how age greatly affects health insurance rates.
Metal tiers indicate the coverage level of health plans, with Bronze being less comprehensive and Gold offering more protection. For a 40-year-old, a Bronze plan costs $559 a month, while a Gold plan is $829. The Gold plan costs $270 more each month, providing better coverage but at a higher price.
What to Know About Health Insurance in Alaska
MoneyGeek analyzed all the health insurance options in Alaska. We explain private insurance available in the marketplace and the different metal tiers like Bronze, Silver and Gold. We also cover Medicaid and Medicare choices. Our guide is for people who want to understand their health care options better so they can choose wisely.
Private Health Insurance in the Alaska Marketplace
The open enrollment period in Alaska typically aligns with the federal open enrollment dates for health insurance, running from November 1 through December 15. During this time, Alaskans can shop for private health insurance coverage on the Health Insurance Marketplace. If you enroll by December 15, coverage starts on January 1 of the following year. If you miss this deadline, you might have to wait until the next enrollment period to sign up unless you qualify for a Special Enrollment Period (SEP). SEPs are triggered by specific life events, such as getting married, having a baby, or losing other health coverage, allowing you to enroll outside the standard period.
Medicaid in Alaska
Medicaid is a joint federal and state program that provides health care coverage to eligible low-income adults, children, pregnant women, elderly adults and people with disabilities. In Alaska, eligiblity is based on income, family size and other factors, aligning with federal guidelines yet with state-specific criteria. Certain groups such as low-income families, pregnant women and those receiving Supplemental Security Income may qualify. Alaska opted for Medicaid expansion under the Affordable Care Act, meaning more adults without dependent children can also receive coverage, typically up to a certain percentage of the federal poverty level. Eligibility requirements can be found on Alaska's Department of Health and Social Services website.
Medicare in Alaska
Medicare is a federal health insurance program primarily for individuals aged 65 and older, but younger people with certain disabilities or End-Stage Renal Disease can also qualify. In Alaska, eligibility is consistent with the rest of the United States. Medicare consists of different parts:
- Part A (Hospital Insurance): covers inpatient hospital stays, care in a skilled nursing facility, hospice care and some home health care.
- Part B (Medical Insurance): covers certain doctors' services, outpatient care, medical supplies and preventive services.
- Part C (Medicare Advantage Plans): offers an alternative way to receive A and B benefits and often includes Part D.
- Part D (Prescription Drug Coverage): adds prescription drug coverage to Original Medicare, some Medicare Cost Plans, some Medicare Private-Fee-for-Service plans and Medicare Medical Savings Account Plans.
MoneyGeek found the best Medicare Supplement plans in Alaska.
Alaska Health Insurance FAQ
When looking for health insurance, you may have questions about cost and availability. MoneyGeek responded to frequently asked questions about cheap private health insurance in Alaska to help you learn more.
About Mark Fitzpatrick