Private Option and Market Place Updates
March 28th, 2014
The Department of Human Services, the Arkansas Insurance Department, and the Arkansas Surgeon General recently presented new information on the status of healthcare coverage in Arkansas to the Public Health, Welfare, and Labor Committee.
Over 150,000 Arkansans have now been determined to be eligible for the Private Option. And another 30,000 have insurance coverage through the Market Place Exchange.
The Private Option is available to individuals making less than 138% of the Federal Poverty Level. That is roughly $30,000 for a family of four and $15,414 for an individual. Premiums for the Private Option are paid for with federal Medicaid dollars. There is no deadline to enroll for the Private Option.
The Market Place Exchange offers health care plans with prices based on your income and household size. These plans are available to anyone making between 138% to 400% of the Federal Poverty Level. That is an individual making up to $46,680 a year or a family of four making up to $95,400. Advance tax credits are also available to help pay the cost of premiums to those who qualify.