Arkansas Health Insurance

If you intend to shop for health insurance in Arkansas, it’s important to have as much information at your disposal as possible.  Health insurance regulations in this state are particularly lax, which makes it especially vital to know about the options at your disposal.  Below is a brief summary of the rules under which Arkansas health insurance companies operate.

• Health insurance companies operating in Arkansas are permitted to refuse coverage for pre-existing conditions when setting up a new insurance policy.  Under state law, pre-existing conditions are generally defined as “any health condition for which you have received treatment before being covered by your current policy.”  Health insurers may claim an exemption, which may be temporary or permanent, from paying any claims related to this condition.
• There are few restrictions on health insurance costs in Arkansas, and therefore the premiums you pay can vary dramatically based on your risk factors (current health, age, sex, etc.).  Insurers may also choose to deny coverage to any new applicant if they deem him or her to be an unacceptable risk.
• The chief restrictions placed on health insurers operating in Arkansas benefit those who already have some measure of health coverage.  First, insurers are required to allow policy-holders to renew their current coverage as long as they remain in good standing.  In addition, it is illegal for any insurer to cancel existing health coverage due to illness.  It should be noted, however, that premiums can still be adjusted by your insurer whenever you renew your coverage.
• By law, any small business operating in Arkansas is guaranteed access to the same group health insurance policies that are offered to other small businesses in that state.  For these purposes, a “small business” is generally defined as one with at least two employees, and no more than fifty. 
• Insurers are permitted to require a minimum level of participation among the company’s staff in order to maintain its group health insurance.  In addition, the cost of a small business insurance policy is not significantly limited by Arkansas state law: as with individual health insurance, rates can vary widely based on the health, age, sex, and other characteristics of its members.  Fortunately, insurers are not permitted to cancel a group policy on the grounds that one of its participants has become ill.
• Arkansas residents who are self-employed have the option of purchasing group health insurance as a small business, even if there are no other employees at their company.  If they choose to purchase an individual health policy instead, however, they are permitted to deduct a portion of their insurance premiums from their taxes.

Due to the lassitude of health insurance regulations in Arkansas, it is crucial for residents of this state to learn as much as possible about their options, advantages, and vulnerabilities when shopping for new health insurance.  Most importantly,  you should make sure to carefully compare the rates and coverage offered by different insurers before choosing to buy a new policy.

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