A.C.A. § 23-61-803 (Arkansas Health Insurance Marketplace)

Arkansas Health Insurance Marketplace

The law establishes the Arkansas Health Insurance Marketplace as a nonprofit legal entity.  It is a political subdivision, instrumentality, and body politic of the state, but not a state agency.  Before any rule or amendment is adopted, the Marketplace must give 30 days’ public notice.  The Marketplace will operate subject to the supervision of a Board of Directors to be appointed by the Governor, Senate and House of Representatives.  The Marketplace must also have an Executive Director.  Prior to Jan. 1, 2015, the Insurance Commissioner must work with the Board to apply for grants to run the Marketplace.  After Jan. 1, 2015, the Board will have the authority to do so.  The Board has the authority to enter into contracts with entities to implement the Marketplace. 

The Board may enter into data-sharing agreements with federal and state agencies and other state marketplaces to carry out its responsibilities.  The agreements must include adequate confidentiality protections and comply with all applicable state and federal laws and regulations.  As a condition of participating in the Marketplace, health insurers will be required to pay assessments, submit the reports, and provide the information required by the Board or the Insurance Commissioner.  The Board may also be required to send claims and enrollment data to the Department of Human Services and the Insurance Commissioner upon request in order to ensure compliance with reporting requirements under state and federal law and assess insurer performance.