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Senate committee approves transfer of state insurance marketplace into Arkansas Insurance Department
Summary
After oversight testimony and public comment, the Senate Insurance & Commerce Committee voted to transfer the state health insurance marketplace into the Arkansas Insurance Department, arguing the move reduces duplication and may allow elimination of the marketplace fee for plan year 2020; opponents warned of marketing conflicts and consumer remedies loss.
The Senate Insurance & Commerce Committee voted to adopt an amendment and pass legislation transferring operations of the state health insurance marketplace into the Arkansas Insurance Department (AID). Committee members cited oversight findings, duplicated functions and potential savings as reasons for the change.
Ryan James, legislative liaison and communications director for the Arkansas Insurance Department, told the committee that marketplace fee arrangements are complex but said AID could absorb marketplace duties without continuing the roughly 1% marketplace fee for plan year…
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