ARKANSAS — Arkansas residents have a medical insurance option to help them cover the cost of medical care.
According to the American Medical Association, Arkansas residents have the most comprehensive and comprehensive health insurance plans in the country.
The Arkansas Insurance Association estimates that nearly one in four residents has health insurance, compared to one in 10 in Alaska, one in three in Alaska and one in 12 in Illinois.
Arkansans can sign up for health insurance through Arkansas Insurance and Financial Assistance (AIFA), which provides coverage through a state-run insurance exchange.
AIFAs premiums can be higher than what the federal government pays for Medicare and Medicaid, but are less than what residents pay out of pocket.
It is possible for a person to purchase a private health insurance policy from AIFA through a private provider, but a person must pay a $3,000 premium, and the insurance company has to provide health coverage and coverage of dental care.
AIFAs rules allow Arkansas residents to purchase private health plans for $5,000 per person and up to $15,000 for a family of four.
State law requires Arkansas residents who are under age 25 to get health insurance.
In Arkansas, residents with an income of up to 200% of the poverty line can purchase private medical insurance.
For residents with incomes above 200% the amount of the premium is capped at $7,500 per person.
Individuals over age 25 must obtain their own health insurance to qualify for private health coverage.
If a family member does not have insurance, the family member can get a waiver from the insurance commissioner.
To qualify for health coverage in the state, individuals must have a current income of $547,000 or a $15k household income for a single person.
Household income is capped to $37,000 if both the spouse and the dependent children are enrolled in Medicaid or the Children’s Health Insurance Program (CHIP).
If individuals are under 18 and do not have health insurance coverage, they must obtain an individual health insurance card from a health insurance carrier.
The card must be valid for a year, and can be renewed through an agency, which is a non-profit corporation.
Residents can apply to receive a waiver and pay the waived amount through a form of a tax credit.
A tax credit is not refundable.
This is an expanded version of a story that originally ran on Axios on March 30, 2018.