Just over a week after we ended our Fiscal Session, many of us were right back at work looking at what needs to be addressed in 2015. Healthcare will be one of the issues we will continue to study over the next several months. 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. These numbers along with a breakdown of enrollment by county and by age groups were provided to the Public Health, Welfare, and Labor Committee this week. It is easy to become confused with the Private Option and the Market Place, but there are some very important distinctions that Arkansans need to know. 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. However, you can still be penalized for not having coverage for an extended period of time. There is a deadline of March 31 for the coverage in the Market Place Exchange. This is found at HealthCare.gov or arhealthconnector.org. After March 31, a consumer must have undergone a life changing event such as a marriage, divorce, or birth of a child. The next Open Enrollment Period will begin November 15, 2014. The committee heard testimony that 200,000 Arkansans who qualify for plans on the exchange were still not enrolled by March 27th. 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. We are still in the very early phases of the Affordable Care Act, but the committee did hear what implications it is having on our state so far. Surgeon General Dr. Joe Thompson told the committee he is already hearing from hospitals across the state reporting a decrease in cost of uncompensated care since January. The committee also heard that the average price of premiums on the Private Option is more than anticipated. The average premium right now for those enrolled is $483 a month. These premiums are currently fully funded by federal Medicaid dollars. Members were told some providers are offering coverage for dental and vision which is raising the costs. This will be addressed next year and it is expected to decrease the price of the premiums. The Department of Human Services along with members of the Public Health Committee continue to explore options for cost sharing for those in the Private Option. One of the options currently being studied is creating health savings accounts for individuals making above 50% of the Federal Poverty Level.
Posted on: Sat, 29 Mar 2014 01:52:23 +0000
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