Arkansas Health Insurers Ask For Average 2% Rate Increases
LITTLE ROCK (TB&P) — Health insurers participating in the Arkansas Health Insurance Marketplace requested an average 2.08% increase for plan year 2020, Arkansas Insurance Commissioner Allen Kerr announced Monday (July 29).
The rate increases would apply to insurers participating in the Marketplace serving private citizens purchasing their own insurance, as well as those served by Arkansas Works, the state program that uses mostly federal Medicaid dollars to buy insurance for about 240,000 lower-income Arkansans.
The Arkansas Insurance Department has until September 18 to approve the requests, which are subject to an independent actuarial analysis.
Of the four insurers, Arkansas Blue Cross & Blue Shield requested the largest increase, 2.89%, for its 166,139 covered lives.
Ambetter from AR Health & Wellness requested a 1.9% increase for its 67,959 covered lives.
QCA Health Plan requested a .56% increase for its 18,935 covered lives.
QualChoice Life and Health requested a .51% increase for 18,401 covered lives.
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