Private Health Insurance Arkansas

Affordable Individual Health Insurance Arkansas

All the uninsured residents of Arkansas who are getting intimidated by the health insurance marketplace can seek professional advice from leading health insurance portals like InsureMeNow to find a health plan that is ideal for them. Individuals while shopping for stand-alone health plans should keep in mind a few aspects. Individuals before shopping should know about their specific health care needs and the number of members in their family for whom they have to obtain the coverage. Individuals who need to regularly visit a doctor to manage a chronic condition should opt for a health plan with a low copayment, as this will help them save money while availing health care services.

Shopping for health insurance is complicated, and even the smartest and most savvy individuals may find difficulty in understanding the nuances of the health plans and may find difficulty in finding the best and affordable health plan as per their needs and budget. If you are finding trouble picking the best plan, then you can take the help of our portal to obtain the best coverage. To address the ongoing pandemic, the Biden administration has reopened the enrollment window from February 15 to May 15, 2021. Thus uninsured residents of Arkansas have another opportunity to obtain health coverage for themselves and their families.

Vital Updates on Arkansas Health Insurance Marketplace

  • Around 66,094 people enrolled in health plans through the Arkansas exchange for 2021 health coverage.
  • The average individual health insurance rate increased by 3.4% in Arkansas for 2021
  • The average cost of an individual health plan is $378 per month in Arkansas in 2021.
  • The average monthly cost of health insurance for a 40-year old in Arkansas is $426 in 2021.
  • The Ambetter Balanced Care 12 is the cheapest Silver plan in Arkansas in 2021.

Different Tiers of Metal Plans available in Arkansas

Uninsured residents of Arkansas shopping for health insurance plans need to understand that both metal-tier and age are vital factors that affect their health insurance premiums. Individuals need to know that plans in the higher metal tier have high monthly premiums but have lower out-of-pocket costs, whereas plans in the low metal-tier have lower monthly premiums but have higher out-of-pocket costs. Besides, the cost of health insurance also increases with age and the monthly premium for a 40-year old will be higher compared to the monthly premium for a 21-year old. In Arkansas, the individual health plans are available in four different metal tiers, Bronze, Expanded Bronze, Silver, and Gold. Gold plans are the higher metal-tier plans that cover the greatest share of out-of-pocket expenses, though the benefits come with more expensive monthly premiums. Despite the higher monthly premiums, the Gold plans turn out to be the most cost-effective for individuals having chronic medical conditions and have high expected medical costs. A Gold plan pays around 80% of the health care expenses whereas the insured pays just 20% of the health care costs.

Average Cost of Health Insurance in Arkansas by Metal Tier in 2021

Types of Plan Monthly Premium for 21-Year Monthly premium for 40-Year
Bronze $257 $329
Expanded Bronze $281 $359
Silver $327 $418
Gold $424 $541

Private Health Insurance Options in Arkansas

Uninsured individuals of Arizona will find some good options while shopping for affordable private plans, as three leading health insurance carriers have come up with different types of private individual health plans for people with different health care needs and budgets. Individuals can buy ACA-compliant private health insurance plans through the exchange or certified agents and brokers. Besides, individuals can also take the help of a comprehensive health insurance portal like InsureMeNow to find the best and ideal plan for themselves and their families. Residents of Arkansas who earn between 100% and 400% of the federal poverty level qualify for a premium subsidy that considerably reduces the premium amount.

Some Popular Private Plans available in Arkansas

  • Ambetter Essential Care 1
  • Bronze Plan 1
  • Ambetter Balanced Care 12
  • Ambetter Secure Care 5

Health Insurance Carriers in Arkansas

In Arkansas, individual health plans are offered statewide by three health insurance carriers, thereby giving residents plenty of health insurance options.

QualChoice – This health insurance carrier offers health plans under two separate entities called QC Life and Health and QCA Health Plan. However, from the year 2020, both QualChoice and Ambetter are owned by Centene.

HMO Partners or Health Advantage – This carrier is new in the Arkansas marketplace for 2021 and is an affiliate of Arkansas Blue Cross and Blue Shield. So health plans are available from US Able and HMO Partners, both are affiliates of Arkansas Blue Cross and Blue Shield.

Essentially, health plans available statewide in Arkansas are offered by just two entirely separate entities, Centene and Blue Cross Blue Shield of Arkansas.

Find a Right Affordable Plan For You