Insurers seek average 2% rate increase for Arkansas exchange

Insurers seek average 2% rate increase for Arkansas exchange
(Source: Gray News)

LITTLE ROCK, Ark. (AP) — Arkansas officials say the four companies providing coverage through the state's insurance exchange under the federal health care overhaul law are seeking an average rate increase of about 2% for next year.

Insurance Commissioner Allen Kerr said Monday all four insurers cited the elimination of an exchange user fee in their rate requests.

The highest average initial rate request for individual plans came from Arkansas Blue Cross & Blue Shield at 2.89% and the lowest from QualChoice Life and Health at .51%. The average increase requested by Ambetter from AR Health & Wellness was 1.9% and the average from QCA Health Plan was .56%.

The requests are subject to an independent actuarial analysis under state law and the Insurance Department has until Sept. 18 to approve rates for next year.