Affordable Health Care Prices Roll Out In Arkansas

Affordable Health Care Prices Roll Out In Arkansas

Prices for Marketplace healthcare plans are announced.
LITTLE ROCK, AR -- There's new information you need to know about as the Affordable Health Care Act rolls into the Natural State.

The State Insurance Department announces average premium rates for health insurance plans that will be sold in the new Health Insurance Marketplace. 

And some of the plans -- appearing pricy -- depending on where in the state you live.

In Central Arkansas the average individual premium cost for an adult is $329 a month.

In Northeast Arkansas it is $302.

In Northwest Arkansas it is $342.

And Southeast Arkansas has the lowest so far at $290.

But the prices you see, may not be what you end up paying, there's more to it than that. 

Surgeon General for Arkansas Dr. Joe Thompson says at first glance the Health Insurance Marketplace prices may seem high, but
a tax credit -- based on income -- will really push those prices down.

Dr. Joe Thompson says, "So a younger individual now could potentially get insurance on a monthly basis of $70-$85 per member per month."

Here's an example for you too...for a family with two 40-year-old adults, the average plan would be sold in the Marketplace for around $950 a month.

But if the annual household income is $35,000, with a tax credit, you would only pay around $118 a month for that same plan.

Dr. Thompson said, "It's going to be a very affordable opportunity compared to the options they've had in the past."

Rates are also based on your age and tobacco use.

Notably not part of the equation is pre-existing medical conditions which will save some Arkansans thousands of dollars a year.

Dr. Thompson said, "So it levels the playing field for everyone who has had a previous condition that insurance companies have charged them more for."

Dr. Thompson expects by shopping in the Health Insurance Marketplace, half a million Arkansans, with no insurance now, will soon have the security of knowing they're covered in the future.

Open enrollment begins October 1st, but you can start the registration process right now.

For more information on how this all works, click here.

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