Arkansas has approved average rate increases ranging from 1 percent to 4.6 percent for plans offered through the insurance marketplace under the federal health care law.
The Insurance Department on Thursday announced the new rate increases for the plans for 2019. It approved a 4.6 percent average increase from Ambetter, 1.5 percent from QCA Health Plan, 1.06 percent from QualChoice Life and Health and 4.4 percent from Arkansas Blue Cross and Blue Shield.
State Insurance Commissioner Allen Kerr says he believes the new rate increases showed stability in the insurance market. Last year, the department approved average rate increases ranging from 14.2 percent to 25 percent.
The rates apply to the state’s hybrid Medicaid expansion, which uses state and federal funds to purchase private insurance for low-income residents.