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 plan option is the Manhattan Life Affordable Choice Fixed Benefit plan. NOTE: The Affordable Choice plans have the BEST inpatient hospital coverage of any fixed benefit plan available today.

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, currently 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. Manhattan Life Out of Pocket Protection Plan is my favorite supplemental hospital inpatient plan. For those who want extra protection for preventive care and/or prescription drugs we add in the SHA Preventive and Prescription Drug Plans.

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. 

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 download and fill out our Group Census spreadsheet and email it to: robtavis@ushealthinsurancesolutions.com.

Alaska 2022 ACA/Obamacare Health Insurance Market Updates

Individual Plans

The individual ACA/Obamacare market in 2022 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 2022.

As noted below, the good news is that rates remained stable with decreases from some companies. 

Alaska 2022 ACA/Obamacare Rate review:

Alaska 2022 Preliminary Rate review:

NOTE: Final approved rates are not readily available at the time of this writing. We will do our best to update this page with the approved rates as soon as we can.

Alaska preliminary 2022 individual plan rate filing requests are as follows:

Moda Health - requested an overall average increase of 0.1% varying by plan. (not finalized yet)

Premera Blue Cross – requested an overall average increase of 9.5% varying by plan (not finalized yet)

Alaska small group market rate filing requests look like this:

Aetna - filed for an average rate increase of 7.18% varying by plan and network type (not finalized yet)

Moda Health Plan - filed for an average rate increase of 4.57% varying by plan and network type (not finalized yet)

Premera Blue Cross Blue Shield of Alaska - filed for an average rate decrease of ?% varying by plan (not finalized yet)

UnitedHealthcare - filed for an average rate increase of 7.52% varying by plan (not finalized yet)

Alaska 2022 Approved Rates:

Alaska 2022 individual plan approved rate filings are as follows:

Moda Health – Received an overall average increase of % varying by plan.

Premera Blue Cross – Received an overall average increase of 9.5% 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.