Best Cheap Health Insurance in Alaska (2023)
Best Cheap Health Insurance in Alaska (2023)
Find Cheap Health Insurance Quotes in Alaska
Health insurance in Alaska can be purchased through the state health insurance marketplace; however, some residents can qualify for Medicaid if their income levels fall at or below 138% of the federal poverty line.
For the 2023 plan year, the average cost of health insurance is $699 per month for a 40-year-old. This is an increase of 17% from 2022.
The Moda Pioneer Silver 4500 is the cheapest Silver health plan in the state, while the Premera Blue Cross Preferred Silver 4500 is the cheapest Silver health plan in more than half of the counties in Alaska.
Cheapest health insurance by metal tier
To help you find the cheapest health insurance, we identified the most affordable policies at every metal tier offered in Alaska. Other key factors for different policies are their deductibles, out-of-pocket maximums and premium costs.
Monthly cost for a 40-year-old
|Bronze||Moda Pioneer Bronze 6500||$474||$6,500||$8,250|
|Silver||Moda Pioneer Silver 4500||$740||$4,500||$7,600|
|Gold||Moda Pioneer Gold 1500||$656||$1,500||$6,000|
Find Cheap Health Insurance Quotes in Your Area
Health insurance in Alaska is offered at three tier levels: Bronze, Silver and Gold. The average cost of monthly premiums for 2023 depends on your age and selected metal tier. For example, 60-year-olds could expect insurance premiums for Silver plans to be $924 per month more expensive, on average, than premiums for 40-year-olds with the same coverage. Similarly, 21-year-olds can expect a Silver plan to cost $179 less, on average, than the same plan for a 40-year-old.
Finding the best health insurance coverage in Alaska
Finding the best health insurance for you will depend on your level of income, your expected medical expenses and the county where you live. Alaska expanded Medicaid coverage under the Affordable Care Act, so Medicaid is available to anyone with an income level at or below 138% of the federal poverty level. People who do not qualify for Medicaid might be able to purchase insurance on the Alaska health insurance marketplace.
The health insurance options on the marketplace are broken down by metal tier, each with different rates, deductibles and out-of-pocket expenses. For example, Gold plans cost more per month than Bronze plans but offer lower deductibles, which means lower out-of-pocket costs when you receive medical care.
Gold plans: Best if you expect large medical costs
The cheapest Gold plan in Alaska is the Moda Pioneer Gold 1500. Compare all tiers in Alaska above.
In Alaska, Gold plans have midlevel premiums but the lowest deductibles of the three available metal tiers. A lower deductible is reached more quickly, and you pay less out of pocket for health care after meeting the deductible. Therefore, Gold plans are usually best suited for individuals that expect large medical costs throughout the year.
Silver plans: Best for modest deductibles and potential cost-saving options
The cheapest Silver plan in Alaska is the Moda Pioneer Silver 4500. Compare all tiers in Alaska above.
Silver plans are middle-ground policies, falling between Bronze and Gold policies in terms of deductible costs. Gold, Silver and Bronze health insurance plans all offer premium tax credits. Silver plans also provide extra discounts, called cost-sharing reductions, to help you save on out-of-pocket costs like deductibles, copays and coinsurance.
If your income falls below 250% of the federal poverty line and you choose a Silver plan, you are eligible for cost-sharing subsidies on deductibles, copayments and coinsurance.
Bronze plans: Best for young and healthy individuals
The cheapest Bronze plan in Alaska is the Moda Pioneer Bronze 6500. Compare all tiers in Alaska above.
Bronze plans are the cheapest health insurance policies on the Alaska state insurance exchange in terms of monthly rates. They are usually best for younger and healthier individuals who do not expect to incur many medical expenses.
Bronze plans have cheap premiums, which can save you money, but also have the highest deductibles. A high deductible can lead to high out-of-pocket expenses if you face a significant health issue or have to visit your primary health provider on a regular basis.
Health insurance rate changes in Alaska
Health insurance rates in Alaska are set by individual insurance companies and reported to the state and federal authorities for review.
For 2023, Bronze, Silver and Gold health insurance rates rose by an average of 17%, close to $100 more per month.
Change (2022 to 2023)
|Bronze and Expanded Bronze||$449||$464||$544||17%|
All monthly premiums are for a 40-year-old adult.
For 2023, Expanded Bronze plans are no longer offered in Alaska, and shoppers only have access to regular Bronze plans. Even with this change, the average cost for these plans increased by 17%.
Best cheap health insurance companies in Alaska
In Alaska, Premera Blue Cross Blue Shield of Alaska and Moda Assurance Co. are the only health insurance companies on the state insurance exchange. This provides a little flexibility for comparison shopping between the plans offered by the two providers. However, some counties — such as Aleutians East — only have access to Premera Blue Cross policies.
If Moda is offered in your area, we recommend starting your search with a Moda plan since the company provides the cheapest policies in counties where it is available.
Cheapest health insurance plan by county
The best cheap health insurance plan for you depends on the county you live in, along with your age and expected medical costs. To help you get started finding the right policy, we have provided a list of the cheapest Silver tier health plans available in Alaska. The table is broken down by county and then analyzed by family size, varying from an individual to a couple with a child.
Cheapest Silver plan
Couple, age 40
Couple, age 40 and child
|Aleutians East||Premera Blue Cross Preferred Silver 4500||$858||$1,715||$2,229|
|Aleutians West||Premera Blue Cross Preferred Silver 4500||$858||$1,715||$2,229|
|Anchorage||Moda Pioneer Silver 4500||$740||$1,480||$1,923|
|Bethel||Premera Blue Cross Preferred Silver 4500||$858||$1,715||$2,229|
|Bristol Bay||Premera Blue Cross Preferred Silver 4500||$858||$1,715||$2,229|
|Chugach Census Area||Premera Blue Cross Preferred Silver 4500||$858||$1,715||$2,229|
|Copper River Census Area||Premera Blue Cross Preferred Silver 4500||$858||$1,715||$2,229|
|Denali||Premera Blue Cross Preferred Silver 4500||$858||$1,715||$2,229|
|Dillingham||Premera Blue Cross Preferred Silver 4500||$858||$1,715||$2,229|
|Fairbanks North Star||Moda Pioneer Silver 4500||$740||$1,480||$1,923|
|Haines||Moda Pioneer Silver 4500||$740||$1,480||$1,923|
|Hoonah-Angoon Census Area||Moda Pioneer Silver 4500||$740||$1,480||$1,923|
Average cost of health insurance by family size in Alaska
Along with your county of residence and age, health insurance costs depend on the size of your family. For example, the average cost of a Silver plan for a family of five — two adults and three children — is $3,121 in Alaska. This is more expensive than the cost for a family of three, which is $2,136 for 2023.
The average cost to add one adult to a Silver insurance policy in Alaska is $822. This is much higher than the average cost to add a child under the age of 15, which is only $492.
|Individual and child||$1,314|
|Couple, age 40||$1,644|
|Family of three (adult couple and a child)||$2,136|
|Family of four (adult couple and two children)||$2,629|
|Family of five (adult couple and three children)||$3,121|
Adults are assumed to be 40 years old. Children are assumed to be under 15. Sample rates are based on the average monthly cost for a Silver plan in Alaska.
Health insurance plans and rates for Alaska in this report can be found on the Centers for Medicare and Medicaid Services (CMS) government website. On the database, public use files (PUFs) were downloaded and aggregated across different states. Using these plans, premiums were averaged across a variety of metrics, such as metal tier, family size and county. Plans and providers for which county-level data was included in the CMS Crosswalk file were used in our analysis; those excluded from this data set may not appear.
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