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Arkansas insurance officials report marketplace funds, say 1.25% user fee removal will lower 2020 premiums
Summary
Insurance Commissioner Alan Kerr told the joint Public Health committee the state’s takeover of the Arkansas Health Insurance Marketplace generated fee collections that will fund the division while the 1.25% state user fee will be eliminated for plan year 2020, a change officials say reduces premiums about $13 million statewide.
Insurance Commissioner Alan Kerr and insurance-department staff briefed the joint Public Health committee on the financial status of the Arkansas Health Insurance Marketplace and the department’s initial review of insurers’ 2020 rate filings. Kerr said the department took operational control of the marketplace in April and presented fee-collection totals, estimated year-end collections and an expenditure and staffing comparison showing lower ongoing costs now that marketplace payroll and certain IT fees no longer flow through the state office.
Kerr and staff said the 1.25% marketplace user fee that had been assessed in Arkansas will be…
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