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Ark. regulator announces approved health insurance rates for FY'20

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Ark. regulator announces approved health insurance rates for FY'20

The Arkansas Insurance Department approved a 2.08% average combined increase, based on projected premiums, for individual health policies sold in the state for the 2020 coverage year.

For individual on-marketplace qualified health plans, the regulator approved, on average, a 1.90% increase for Ambetter, a 2.89% increase for Arkansas Blue Cross & Blue Shield, a 0.56% increase for QCA Health Plan Inc. and a 0.51% increase for QualChoice Life & Health Insurance Co. Inc.

Customers in Arkansas' health insurance marketplace will save a combined projected $13.1 million because of the elimination of a fee charged to companies in previous plan years.