Some Affordable Care Act plan rates in Arkansas will jump nearly 25% in 2018, a spokesperson for the state's insurance regulator confirmed to S&P Global Market Intelligence.
The Arkansas Insurance Department has approved a 24.97% average increase for QualChoice Life & Health Insurance Co. Inc. and a 24.66% increase for QCA Health Plan Inc. Celtic Insurance (Ambetter) received approval for a 21.4% rate hike, while Arkansas Blue Cross and Blue Shield was approved for a 14.2% average increase.
The spokesperson said the approvals assumed cost-sharing reductions from the government would not be paid to insurers, which the White House decided Oct. 12 it would stop.
The final rates will be released Oct. 17 to reflect actual increases. The spokesperson said the actual numbers will slightly vary.