Arkansas Healthcare Savings Options | Ambetter Health Insurance


Healthcare Savings

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You deserve health insurance that fits your health needs and your budget. The Affordable Care Act brings new ways to get financial assistance from the government to save on the cost of your health insurance. Some are unique to Arkansas!

Financial Assistance eligibility is primarily based on your family size and income level. There are two types of financial assistance:

  1. Payment Assistance on Premiums
  2. Out-of-Pocket Payment Reductions

Payment Assistance on Premiums (Premium Subsidies)

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This is also known as a Premium Subsidy. This is an amount of money, or tax credit from the government to help reduce your monthly premium amount. Whether or not you are eligible for a subsidy depends on your family size and your annual income

In Arkansas, if your income is below 138% of the Federal Poverty Level (FPL), you won’t have any monthly premium payments. These are covered by the government. And if you’re between 101-138% of the FPL, you might pay some out-of-pocket costs like copays and/or coinsurance. Anyone below 100% of the FPL will not have any out-of-pocket costs. Check out our Plan Options page for more detailed information.

The Federal Poverty Level is the set minimum income a family needs for food, clothing, transportation and shelter. The government decides this level. Check the levels at the Department of Health & Human Services website. The Federal Poverty Level range, as it pertains to subsidy eligibility, may change based on the state you live in. People who can get health insurance through their employer or through public coverage, like Medicaid, cannot, in most cases, qualify for a subsidy.

Out-of-Pocket Payment Reductions 

Out-of-Pocket Payment Reductions are also known as Cost Sharing Reductions. While Premium Subsidies make your monthly premium payments less expensive, these reductions lower the price of your out-of-pocket payments. These payments can include your copay, coinsurance and/or deductible.

Remember, Out-of-Pocket Payments Reductions are only available on Silver level Health Insurance Marketplace plans.