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
Individual 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 options include the Manhattan Life Affordable Choice Fixed Benefit plans and Short Term Medical plans with duration's up to 364 days from The IHC Group. You can combine the Primary plans together for more comprehensive coverage or purchase them separately.
We then package these Primary plans with LifeSecure Accident and Critical Illness plans, one of two supplemental hospital inpatient plans from LifeSecure or Surebridge. For those who want extra protection for preventive care and/or prescription drugs we add in the SHA Preventive and Prescription Drug Plans.
IMPORTANT TIP: In most cases, you can combine one of the above Fixed Benefit plans and/or STM plans together with an Accident, Critical Illness, Cancer Treatment AND First Day Hospital plans, and still be at least 15-20% LESS than a high deductible ACA/Obamacare plan! That is a package with first dollar, NO deductible coverage versus paying a high deductible up front before getting benefits on most services.
There is one last NEW addition I want to mention. I worked on it most of the past year. While I think it will be especially beneficial to people with one of the alternative plan packages (above), I believe it can help you lower your overall health care costs no matter what primary health insurance you have. Please 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.
Small Group Plans
In Alaska, we have two companies (National General and Trustmark) that 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 biggest news for 2020 is that Moda Health will return to the individual ACA/Obamacare market in 2020. Offering plans for residents of the Municipality of Anchorage, Matanuska-Susitna Borough, and Kenai Peninsula Borough.
Small Group Plans
As with many states there is not much “new” to report with ACA/Obamacare small group plans in Alaska.
As noted in our Federal Market Update ACA/Obamacare small group plans generally reported higher overall increases than the individual market. The notable exceptions (as shown below) are fairly big rate decreases from Moda Health and smaller decreases from United Healthcare.
Alaska 2020 Preliminary Rate review:
Alaska preliminary 2020 individual plan rate filing requests are as follows:
- Premera Blue Cross – requesting a range of a 1.7% decrease to a 0.74% increase varying by plan and network type (not finalized yet)
Alaska small group market rate filing requests look like this:
- Aetna - filed for an average rate increase of 5.92% varying by plan and network type (not finalized yet)
- Moda Health Plan - filed for a rate decrease range of a 5.2% to 18.6% varying by plan and network type (not finalized yet)
- Premera Blue Cross Blue Shield of Alaska - filed for an increase range of a 7.8% to 11.10% varying by plan (not finalized yet)
- UnitedHealthcare - filed for range of a 4.7% decrease to a 2.3% increase varying by plan and network (not finalized yet)
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.