Where is the Best Health Insurance in Arkansas?
The best health insurance in Arkansas will depend on what an individual wants and needs and what premium he or she is willing and able to pay. Arkansas does not have guaranteed insurability and companies who ask about pre-existing conditions may look back as five years into your medical history.
However, the state puts limits on how long coverage can be deferred for certain conditions. The state also allows exclusion riders that permanently exclude certain conditions. There is also the state's high risk pool, called CHIP for Comprehensive Health Insurance Pool. This covers individuals only, and not family groups.
The best Arkansas health insurance plan for the majority of residents will be group health coverage through an employer. Group insurance distributes risk over a large number of individual and reduces the risk to the carrier so that each individual pays less. Whenever this is offered, it is best to take advantage of it.
Private insurance is generally going to cost more than group insurance, so if on the job coverage is not an option, it may be best to find an association to join that does offer group coverage. Membership requirements for such organizations vary as they may be fraternal organizations, trade groups or even age based such as the AARP. The cost of membership is virtually always more than offset by the savings on insurance costs.
Another option is the income based programs such as Medicaid. Very low income people may qualify for this federal program administered by the state. An example would be an SSI recipient or a family receiving TANF funds.
For children, there is the AR Kids First program, based on family income and the federal poverty level or FPL. Children without other coverage are eligible from birth until the 19th birthday bases on parental income. TANF families are also guaranteed Medicaid and/or AR Kids First coverage for up to one year after they stop receiving these benefits.