Health Insurance Arkansas

The Affordable Care Act (ACA) and the expansion of Medicaid have reduced the number of uninsured people in Arkansas, bringing it closer to the national average. Residents obtain medical care through the various forms of insurance available.

Arkansas' 2.9 million residents receive health insurance through employers, the private individual market, or programs such as Medicaid, Children's Health Insurance Program (CHIP), Medicare, or ACA (Obamacare).

The sources of health insurance coverage in the state are:

42% employer
No group 6% (individuals and families who bought or covered non-group insurance as dependents)
Medicaid 27%
Medicare 16%
Military 1%
Uninsured 8%

Medicaid is the main source of insurance for its residents. Arkansas accepts federal funds to expand Medicaid provided through the ACA, but uses them to purchase private insurance for many eligible low-income residents. 5 In 2017, 326,900 adults (11%) enrolled in the Medicaid expansion in Arkansas.

The Impact of Obamacare in Arkansas

Under the Obamacare Program, Arkansans can purchase non-group coverage and possibly qualify for premium tax credit assistance through the health insurance marketplace. About 89% of its members received advanced premium tax credit, or support, to help pay their premiums, which is slightly more than the national average of 87%.

About the Arkansas Health Insurance Marketplace

The ACA's open enrollment in its health insurance marketplace begins November 1 through December 15 of each year for coverage beginning the following January 1. You must re-register during open enrollment each year to avoid a gap in coverage.

If you miss the open enrollment period, you won't be able to apply until the next open enrollment unless you encounter a life-qualifying event. Any event that leaves you uninsured or changes your family size (such as loss of job or health insurance, changes in residence or family size, marriage, birth or adoption of a child) carries a registration period special. Such an event opens a small window for you to get your insurance.

Arkansas currently has a state-based federal marketplace platform. In 2019, the Arkansas Department of Insurance created a division called Arkansas Health Insurance Market (AHIM). This division manages and implements the health insurance exchange statewide in accordance with state and federal laws. However, the state relies on federal location for eligibility and registration work.

You can purchase ACA compliant coverage through exchanges or certified agents and brokers. For families and individuals, Obamacare may be the best low-cost health insurance due to the benefits available that lower premiums. If you are self-employed and have no employees, you have access to the same health insurance options as families and individuals.

More than 64,000 Arkansans are enrolled in open enrollment health insurance for 2020. That number has dropped nearly 4% in the past three years.