Annual Alaska Health Insurance Market Update
The following contains information for our NAHP Alternative Health Plan Solutions and ACA/Obamacare plans for individuals and small businesses in the state of Alaska.
Alaska Alternative Health Plan Solutions Updates
IMPORTANT NOTE: All non-ACA/Obamacare alternative plans are available year-round. For both individuals and small groups. There is NO limited (open enrollment) period for these options.
Individual Alternative Plans
For those who don’t qualify for a tax credit subsidy to help pay for an ACA/Obamacare plan, we have a strong “health insurance buffet” of alternative plans in Alaska.
Our Primary alternative plan option is the Manhattan Life Affordable Choice Fixed Benefit plan.
The other primary option that we prefer to recommend in combination with a Fixed Benefit plan is a Short Term Medical plan with a duration of up to 364 days. Even though Alaska follows the federal guidelines that allow companies to sell Short Term Medical plans for extended periods of up to 36 months, at this time we do not have any insurance companies that are offering plans in the state.
We can then package these Primary plans with LifeSecure Accident and Critical Illness plans. We also have a combination Accident and Critical Illness plan from The IHC Group called Metal Gap 2. There are also two supplemental hospital inpatient plans from LifeSecure or Surebridge.
From the above options there are multiple different combinations that provide “first dollar” coverage with no upfront deductibles for LESS than a HIGH deductible ACA/Obamacare plan. However, without the option of a Short Term Medical plan at this time, you may want to consider using the above plans to supplement a high deductible ACA/Obamacare plan instead.
REMINDER NOTE: All these supplemental plans pay in addition to ANY other coverage you have. So, they are NOT just for our alternative “buffet” plans. They can reduce/eliminate out of pocket costs (plus provide additional cash for bills and other costs) of ANY primary health plan (group, individual, Medicare, etc.)
Small Group Alternative Plans
In Alaska, in addition to the two companies we already work with (National General and Trustmark) we have a new agency called National Insurance Partners (NIPC) with whom we have recently partnered. NIPC has four different companies offering Level Funded plans.
All six of these options provide cost-saving, level funded alternative group health plans. Level funded plans can be a BETTER option for many businesses than the “one size fits all” ACA/Obamacare small group health insurance plans.
If you own, or work for a business with 5 to 50 employees covered on a “traditional,” fully insured group health plan, and believe the covered group members to be reasonably healthy overall, then it might be time for your company to explore a level funded plan.
To get quotes on a level funded group health plan, please schedule a call with us to review your situation. We will also need you to fill out our Group Census spreadsheet and email it to: robtavis@ushealthinsurancesolutions.com.
Alaska 2020 ACA/Obamacare Health Insurance Market Updates
Individual Plans
The individual ACA/Obamacare market in 2021 has not had any changes. Premera Blue Cross Blue Shield of Alaska continues to be the only company offering individual plans statewide.
Small Group Plans
Like the Individual ACA/Obamacare market, there is not much “new” to report with ACA/Obamacare small group plans in Alaska. The same four companies are offering group plans in 2021.
As noted below, the good news is that rates remained stable with decreases from some companies.
Alaska 2021 ACA/Obamacare Rate review:
Alaska 2021 individual plan approved rate filings are as follows:
Moda Health – Received an overall average increase of 0.68% varying by plan.
Premera Blue Cross – Received an overall average decrease of 7.13% varying by plan
Alaska small group market approved rate filings look like this:
Aetna - Received an average rate increase of 0.28% varying by plan and network type
Moda Health Plan - Received an average rate increase of 2.7% varying by plan and network type
Premera Blue Cross Blue Shield of Alaska - an average rate decrease of 1.15% varying by plan
UnitedHealthcare - Received an average rate decrease of 8.91% varying by plan
US Healthcare Resources and Shopping Services
I invite you to go to my US Healthcare Resources page and spend some time going through all of the different tools, services and providers that are available to help you become a better health care consumer. I believe these resources can help you lower your overall health care costs no matter what primary health insurance you have.
U.S. Insurance Solutions is here to help
Remember, you are NOT in this alone…I am here to help! As your Personal Health Insurance Advisor, my goal is to make your life easier by taking the hassle out of finding the right health plan for your situation and needs.
To discuss your health insurance options and make sure you have the best possible health plan for your situation, please go to the link above with the image that says CALL ME and schedule a call with me on a day and time that works for you, and I will call you to review your options.