Alaska Health Insurance Guide 2023
Information, tools, and access to online health insurance quotes for Alaska Residents of Alaska have access to a variety of private insurance company-offered health insurance policies for both individuals and groups.
Through HealthCare.gov, the government exchange, you may also purchase individual and family coverage from participating private insurers. You may also acquire insurance through the federal exchange if you are a sole proprietor without any workers. Additionally, you could be qualified for several federal and state programs like COBRA and Medicaid.
Patient Protection and Affordable Care Act of 2010 and Alaska
The Patient Protection and Affordable Care Act, usually referred to as ObamaCare, the Affordable Care Act, or simply the ACA, went into effect in 2010. After being passed, the law’s provisions have continued to be implemented gradually.
Most U.S. citizens and legal residents must obtain qualified health insurance starting on January 1, 2014, or they must pay an annual tax penalty for each month they do not have insurance. The “individual mandate” is what is meant by this.
The grace period lasts till March 31, 2014. Starting in 2014, the fine for not having qualifying coverage is $95 for adults and $47.50 for children, or up to 1% of your taxable income (maximum of $285 per family), whichever is larger. For the remainder of 2017 and beyond, the fine will rise yearly.
Small Business Coverage in Alaska
You can purchase SHOP, the Small Business Health Options Program, or via a private broker or insurance agent if you own a small business in Alaska with 50 or fewer full-time equivalent workers (FTEs). However, if you utilize SHOP, you can be eligible for tax credits equal to up to 50% of your premium payments.
Employers with up to 100 FTEs will be able to join SHOP starting in 2016. Beginning in 2015, all firms with 50 or more FTEs are required to provide employees with at least one ACA-compliant plan or risk fines of $2,000 per employee under the Employer Shared Responsibility section of the Affordable Care Act.
Plans that are readily available in Alaska
The ACA requires that all eligible plans fall into one of four metal categories: Bronze, Silver, Gold, or Platinum. This makes it easier for you to evaluate costs and features. Each is based on the typical amount of healthcare expenses that the plan will cover, expressed as a proportion of what is paid for by you and what is covered by your insurance company.
Silver and Gold plans are the very least that all insurers participating in a state or federal healthcare exchange are required to offer. The most you can be charged for out-of-pocket expenses in a given calendar year is the same for all metal plans.
Assurance of Issue
Because of their gender or prior medical history (pre-existing conditions), no one is permitted to be denied coverage under the ACA or to pay considerably higher rates. There can be neither a look-back nor any waiting periods. Policies work well in solving problems. If you decide to renew your coverage, it is all renewable. Plans can only be terminated for fraud or nonpayment of payments. All non-grandfathered plans are subject to the assured issue provision.