UPDATE: Arkansas Insurance Department Approves Rate Increases for 2025

(Original post published July 25, 2024)

The Arkansas Insurance Department has approved average rate hikes of 6.2% for individual market plans and 10.2% for small group plans for the 2025 plan year.

Health insurance carriers in Arkansas file proposed rate adjustments each year in response to market trends, healthcare costs, and policy shifts. The state’s carriers had initially proposed average rate increases of 4.2% for individual market plans and 9.6% for small group plans for 2025, but Arkansas law requires that the state insurance commissioner not approve any proposed rate adjustment that is deemed inadequate, excessive, or unfairly discriminatory. The Insurance Department relies on outside actuarial analysis to determine whether proposed rate adjustments are sound.

Below are the final rate filings for 2025 plans that comply with the requirements of the Affordable Care Act. These include individual plans offered through the Arkansas Health Insurance Marketplace and individual and small group plans offered outside the marketplace.

Individual On/Off-Market Plans