Health Insurance

Best Cheap Health Insurance in Alaska 2022

Best Cheap Health Insurance in Alaska 2022

Find Cheap Health Insurance Quotes in Alaska

Currently insured?

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 2022 plan year, the average cost of health insurance is $599 per month for a 40-year-old. This is an increase of 3% from 2021.

We conducted research on all health insurance plans to help you find the best policy that fits your needs. Moda Pioneer Silver 4500 is the cheapest Silver health plan in the state. Other tiers of health coverage are available; the availability of some plans depends on where you live within 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. The table below shows the different policies along with their corresponding deductibles, out-of-pocket maximums and premium costs. We recommend using this information as a starting point for the coverage you can expect from a given metal tier.

For example, the Moda Pioneer Silver 4500 policy has a deductible of $4,500 and a monthly premium of $653. But if you prefer a lower deductible amount to save on future costs, you might consider a Gold policy such as the Moda Pioneer Gold 1500 health plan, with a deductible of $1,500.

Metal tier
Cheapest plan
Monthly cost
Deductible
Out-of-pocket maximum
Bronze ExpandedModa Pioneer Bronze 6500$416$6,500$8,000
SilverModa Pioneer Silver 4500$653$4,500$7,350
GoldModa Pioneer Gold 1500$596$1,500$6,000

Find Cheap Health Insurance Quotes in Your Area

Currently insured?

Health insurance in Alaska is offered at three tier levels: Bronze Expanded, Silver and Gold. The graph below shows the average cost of monthly premiums for 2022 depending on your age and selected metal tier. For example, 60-year-olds could expect insurance premiums for Silver plans to be $804 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 $156 less, on average, than the same plan for a 40-year-old.

Average Monthly Cost of Health Insurance Plans by Metal Tier in Alaska

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 your county of residence. 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 levels of premiums, deductibles and out-of-pocket expenses. For example, Gold plans come with higher premiums than Bronze Expanded plans but offer lower deductibles, which reduce out-of-pocket costs when you receive medical care.

Gold plans: Best if you expect large medical costs

In Alaska, Gold plans have midlevel premiums but the lowest deductibles of the three available metal tiers. A lower deductible is reached more quickly, so 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.

The cheapest Gold plan in Alaska is the Moda Pioneer Gold 1500. Compare all tiers in Alaska above.

Silver plans: Best for modest deductibles and potential cost-saving options

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 cost-sharing reductions to save on out-of-pocket costs like deductibles, copays or coinsurance.

If you fall below 250% of the federal poverty line, you would be eligible for cost-sharing subsidies on deductibles, copayments and coinsurance.

The cheapest Silver plan in Alaska is the Moda Pioneer Silver 4500.

Bronze Expanded plans: Best for young and healthy individuals

Bronze Expanded 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 Expanded 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.

The cheapest Bronze Expanded plan in Alaska is the Moda Pioneer Bronze 6500.

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 2022, Bronze Expanded and Silver health insurance rates rose by 3% and 5%, respectively. Gold plan rates remained approximately the same for 2022 compared to 2021.

Metal tier
2020
2021
2022
Change 2022 vs. 2021
Bronze Expanded$513$449$4643%
Silver$573$683$7155%
Gold$728$616$6180%

All monthly premiums are for a 40-year-old adult.

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.

County name
Cheapest Silver plan
Age 40
Couple, age 40
Couple, age 40 & child
Aleutians EastPremera Blue Cross Preferred Silver 4500$716$1,432$1,861
Aleutians WestPremera Blue Cross Preferred Silver 4500$716$1,432$1,861
AnchorageModa Pioneer Silver 4500$653$1,306$1,697
BethelPremera Blue Cross Preferred Silver 4500$716$1,432$1,861
Bristol BayPremera Blue Cross Preferred Silver 4500$716$1,432$1,861
Chugach Census AreaPremera Blue Cross Preferred Silver 4500$716$1,432$1,861
Copper River Census AreaPremera Blue Cross Preferred Silver 4500$716$1,432$1,861
DenaliPremera Blue Cross Preferred Silver 4500$716$1,432$1,861
DillinghamPremera Blue Cross Preferred Silver 4500$716$1,432$1,861
Fairbanks North StarModa Pioneer Silver 4500$653$1,306$1,697
HainesPremera Blue Cross Preferred Silver 4500$716$1,432$1,861
Hoonah-Angoon Census AreaPremera Blue Cross Preferred Silver 4500$716$1,432$1,861
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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 $2,715 in Alaska. This is more expensive than the cost for a family of three, which is $1,859 for 2022.

The table below shows the average monthly cost of health plans based on family size. As you can see, the average cost to add one adult to an insurance policy in Alaska is $716. This is much higher than the average cost to add a child under the age of 15, which is only $428.

Family size
Average cost
Individual + child$1,144
Couple, age 40$1,431
Family of three (adult couple and a child)$1,859
Family of four (adult couple and two children)$2,287
Family of five (adult couple and three children)$2,715

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.

Methodology

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 dataset may not appear.

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.