Insurance Insights

August 31 - September 6, 2015

New health insurance rates approved

By Allen Kerr

Earlier this week, the Arkansas Insurance Department approved new rates for health insurance providers for 2016. Some companies will increase rates, while another will be significantly cutting theirs. On average, health insurance rates in Arkansas will increase an average of 4.4 percent.
I am proud to report that no single company will increase their rates by more than 10 percent, unlike many other states where some companies are planning large double-digit percentage price hikes. I thank the insurance providers in Arkansas who, working with the professional men and women of the Arkansas Insurance Department, were able to submit rate requests grounded in reality and fair for our citizens
The rate requests approved by the Arkansas Insurance Department for 2016 are:
• Arkansas Blue Cross and Blue Shield (individual plans – Increase of 7.15 percent
• Arkansas Blue Cross and Blue Shield (group plan) – Increase of    3.01 percent
• Celtic Insurance Company (Ambetter) (individual plans) – Increase of 0.08 percent
• QualChoice/QCA Health Plan (individual plans) – Decrease of 8.20 percent    
The companies participating in Arkansas’s health insurance marketplace are: Arkansas Blue Cross and Blue Shield (BCBS); Celtic Insurance Company (Ambetter); QualChoice Life and Health Insurance Company/QCA Health Plan; and UnitedHealthcare of Arkansas. UnitedHealthcare will be a new entrant into the Arkansas health insurance marketplace for 2016 and, therefore, has no previous insurance rate filings to compare.
For 2016, Arkansas BCBS, Celtic, and QualChoice/QCA are offering products in all 75 Arkansas counties, while UnitedHealthcare will only operate in central Arkansas before expanding to other areas in 2017.
Open enrollment for 2016 begins on November 1, running through January 31, 2016.
It is my pleasure to continue to serve you as your Insurance Commissioner. For more information on the Arkansas Insurance Department, please visit http://insurance.arkansas.gov, follow us on Twitter at http://twitter.com/ARInsuranceDept and Facebook at http://www.facebook.com/ArkansasInsuranceDepartment.  
Allen Kerr was appointed Arkansas Insurance Commissioner on Jan. 13, 2015, by Governor Asa Hutchinson. 

  • Allen Kerr
    Allen Kerr