Best Cheap Health Insurance in Alaska 2019

Find the Cheapest Health Insurance Quotes in Your Area

Currently insured?
{"id":10,"isAgeFieldVisible":true,"isInsuranceTypeFieldVisible":true,"isInsuredStatusFieldVisible":true,"defaultZip":"","defaultProduct":"health","quoteWizardEndpoint":"https:\/\/quotes.valuepenguin.com","trackingKey":"_best-cheap-health-insurance-alaska","title":"Find the Cheapest Health Insurance Quotes in Your Area","vendor":"vp"}

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 below 138% of the federal poverty line. We conducted research on all health insurance plans to help you find the best policy that fits your needs. We found that the Premera Blue Cross Preferred Plus Silver 4500 was the cheapest Silver health plan in the state. Other tiers of health coverage are available, but the state is served entirely by the Premera Blue Cross Blue Shield of Alaska insurance company.

Cheapest Health Insurance by Metal Tier

To help you find the cheapest health insurance, we identified the lowest cost policies at every metal tier offered in Alaska. All of these policies are available in every county but will vary on cost depending on where you live. The table below shows the different policy prices 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 Premera Blue Cross Preferred Plus Silver 4500 policy has a deductible of $4,500 and a monthly premium of $681. But, you may decide that you would prefer a lower deductible amount to save money in the future. You could instead consider a Gold policy, such as the Premera Blue Cross Preferred Plus Gold 1500 health plan, which has a deductible of $1,500.

Metal TierCheapest PlanDeductibleOut-of-Pocket MaximumMonthly Cost for a 40-Year-Old
BronzePremera Blue Cross Preferred Plus Bronze 5250 HSA$5,250$6,600$526.00
SilverPremera Blue Cross Preferred Plus Silver 4500$4,500$7,350$681.00
GoldPremera Blue Cross Preferred Plus Gold 1500$1,500$6,000$759.00

Find the Cheapest Health Insurance Quotes in Your Area

Currently insured?
{"id":4,"isAgeFieldVisible":true,"isInsuranceTypeFieldVisible":true,"isInsuredStatusFieldVisible":true,"defaultZip":"","defaultProduct":"health","quoteWizardEndpoint":"https:\/\/quotes.valuepenguin.com","trackingKey":"_best-cheap-health-insurance-alaska","title":"Find the Cheapest Health Insurance Quotes in Your Area","vendor":"vp"}

Health insurance in Alaska is offered at three tier levels, either Bronze, Silver or Gold. The graph below shows the average cost of monthly premiums depending on your age and selected metal tier. For example, 60-year-olds could expect insurance premiums to be on average 112% more expensive than 40-year-olds with the same coverage. Similarly, 21-year-olds can expect their health insurance costs to be on average $149 less than 40-year-olds with the same coverage.

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

Finding the Best Health Insurance Coverage in Alaska

Finding the best cheap health insurance for you will depend on your level of income, expected medical expenses and your county of residence. Alaska did approve to expand Medicaid coverage under the Affordable Care Act. Therefore, Medicaid is available to anyone with income levels below 138% of the federal poverty level. For people that do not qualify for Medicaid, individual coverage will have to be purchased on the Alaska health insurance marketplace.

The health insurance options on the marketplace are broken down into metal tiers. The tiers have different levels of premiums, deductibles and out-of-pocket expenses. For example, higher level tiers, like Gold, will require higher upfront costs in the form of premiums, but come with a lower deductible which will reduce your medical expenses in the future if you need medical care.

Gold Metal Plans: Best if you Expect Large Medical Costs

Gold level plans have the highest premiums and the lowest deductibles out of all the metal tiers. People that select Gold health plans will have a low deductible and be able to save money on each additional visit to their healthcare provider once the deductible has been reached. Therefore, they are usually best-suited for individuals that expect large medical costs throughout the year. For instance, a Gold policy is great for people with prescription needs that use these drugs on a routine basis.

Silver Metal Plans: Best for Modest Premiums and Deductibles

Silver level plans are a middle-ground policy, falling between Bronze and Gold policies in terms of average premiums and deductible. Gold, Silver and Bronze health insurance plans all include premium tax credits, but Silver plans offer extra cost-sharing reductions. If you fall below 250% of the federal poverty line, then you would be eligible to receive discounts on the amount you would need to pay for deductibles, copayments and coinsurance.

Bronze Metal Plans: Best for Young and Healthy Individuals

Bronze level plans are the cheapest health insurance options on the state insurance exchange in terms of monthly rates. The plan is 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 have the highest deductible. The high level of the deductible can lead to significant out-of-pocket expenses if you have to visit your primary health provider on a regular basis, or face a significant health issue.

Best Cheap Health Insurance Companies in Alaska

In Alaska, Premera Blue Cross Blue Shield of Alaska is the only health insurance company on the state insurance exchange. Unfortunately, you won't be able to compare health insurance plans across companies, but Premera Blue Cross Blue Shield does offer different policies under the same metal tier. For example, they offer two Bronze tier policies to choose between: Premera Blue Cross Preferred Plus Bronze 5250 HSA and Premera Blue Cross Preferred Plus Bronze 6350.

Cheapest Health Insurance Plan By County

The best cheap health insurance plan for you will depend 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 single to a couple with a child.

CountyCheapest Silver PlanSingle Adult, Age 40Couple, Age 40Couple, Age 40, plus Child
Aleutians EastPremera Blue Cross Preferred Plus Silver 4500$716$1,432$1,861
Aleutians WestPremera Blue Cross Preferred Plus Silver 4500$716$1,432$1,861
AnchoragePremera Blue Cross Preferred Plus Silver 4500$681$1,362$1,770
BethelPremera Blue Cross Preferred Plus Silver 4500$681$1,362$1,770
Bristol BayPremera Blue Cross Preferred Plus Silver 4500$716$1,432$1,861
DenaliPremera Blue Cross Preferred Plus Silver 4500$716$1,432$1,861
DillinghamPremera Blue Cross Preferred Plus Silver 4500$681$1,362$1,770
Fairbanks North StarPremera Blue Cross Preferred Plus Silver 4500$716$1,432$1,861
HainesPremera Blue Cross Preferred Plus Silver 4500$699$1,398$1,816
Hoonah AngoonPremera Blue Cross Preferred Plus Silver 4500$699$1,398$1,816
JuneauPremera Blue Cross Preferred Plus Silver 4500$699$1,398$1,816
Kenai PeninsulaPremera Blue Cross Preferred Plus Silver 4500$716$1,432$1,861
Ketchikan GatewayPremera Blue Cross Preferred Plus Silver 4500$699$1,398$1,816
Kodiak IslandPremera Blue Cross Preferred Plus Silver 4500$716$1,432$1,861
KusilvakPremera Blue Cross Preferred Plus Silver 4500$716$1,432$1,861
Lake And PeninsulaPremera Blue Cross Preferred Plus Silver 4500$716$1,432$1,861
Matanuska SusitnaPremera Blue Cross Preferred Plus Silver 4500$716$1,432$1,861
NomePremera Blue Cross Preferred Plus Silver 4500$716$1,432$1,861
North SlopePremera Blue Cross Preferred Plus Silver 4500$716$1,432$1,861
Northwest ArcticPremera Blue Cross Preferred Plus Silver 4500$716$1,432$1,861
PetersburgPremera Blue Cross Preferred Plus Silver 4500$699$1,398$1,816
Prince Of Wales HyderPremera Blue Cross Preferred Plus Silver 4500$699$1,398$1,816
SitkaPremera Blue Cross Preferred Plus Silver 4500$699$1,398$1,816
SkagwayPremera Blue Cross Preferred Plus Silver 4500$699$1,398$1,816
Southeast FairbanksPremera Blue Cross Preferred Plus Silver 4500$716$1,432$1,861
Valdez CordovaPremera Blue Cross Preferred Plus Silver 4500$681$1,362$1,770
WrangellPremera Blue Cross Preferred Plus Silver 4500$699$1,398$1,816
YakutatPremera Blue Cross Preferred Plus Silver 4500$716$1,432$1,861
Yukon KoyukukPremera Blue Cross Preferred Plus Silver 4500$716$1,432$1,861

Average Cost of Health Insurance by Family Size in Alaska

Along with your county of residence and age, health insurance costs are dependent on the size of your family. For example, if you had a family of five, your average health insurance cost would be $2,734 with a Silver plan in Alaska, assuming two adults and three children. This is 46% more expensive than the cost for a family of three, which is $1,871.

The table below shows the average monthly cost of health plans depending on the size of the family. As you can see, the average cost to add one adult to an insurance policy in Alaska would be $720. This is much higher than the average cost to add a child under the age of 15, which is only $431.

Family SizeAverage Monthly Cost of Health Plan
Single Adult$720
Adult Couple$1,440
Family of three (Adult couple and a child)$1,871
Family of four (Adult couple and two children)$2,303
Family of five (Adult couple and three children)$2,734
Adults are assumed to be 40 years old. Sample rates are based on the average cost for a Silver plan in Alaska.

Comments and Questions

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews, statements or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication.