Arkansas OKs new rate increases for marketplace insurers
LITTLE ROCK, Ark. (AP) -- Arkansas has approved average rate increases ranging from 14.2 percent to nearly 25 percent for plans offered through the insurance marketplace under the federal health care overhaul.
The move comes a day after President Donald Trump said he's ending Affordable Care Act cost-share subsidies.
The Insurance Department said Friday it approved a 24.97 percent average increase from QualChoice Life and Health Insurance, 24.66 from QCA Health Plan Inc., 21.4 percent from Ambetter and 14.2 percent from Arkansas Blue Cross and Blue Shield. The state allowed the insurers to resubmit their silver plan rate requests to reflect the decision to end the subsidies to insurers for reducing copays and deductibles for people with modest incomes.
Arkansas previously approved rate increases ranging from 7.8 percent to 9.9 percent for the plans.