New company licensed under Act 775
LITTLE ROCK – Arkansas Insurance Commissioner Allen Kerr today released the following statement announcing that he has granted Certificates of Authority to a fourth domestic company under the provisions of Act 775 of 2017, the Medicaid Provider-Led Organized Care Act:
“I am proud to welcome the fourth provider-led organization as a domestic insurance company under Act 775. The attractiveness of the unique system Arkansas has developed to serve its Medicaid beneficiaries is confirmed by the addition of yet another company led by Arkansas healthcare providers.”
Kerr granted authority to Forevercare, Inc., a newly-formed Arkansas-based For Profit Corporation, to be a domestic Risk-Based Provider Organization under Act 775 and AID Rule 117. Forevercare, Inc. is a wholly owned subsidiary of the newly-formed immediate parent company Forevercare Holdings, LLC. The ownership of the immediate parent company is led by healthcare providers that represent 51% of the collective ownership as required by statute: Community Service, Inc.; the Ouachita County Medical Center; Rehabilitation Network Outpatient Services, LLC; St. Francis House NWA, Inc. (dba Community Clinic); and Arkansas Pharmacy Providers, LLC. Gateway Health Plan, LP, of Pittsburgh, Pennsylvania owns the remaining portion of the immediate parent company.
A total of five entities expressed interest in forming provider-led organizations under Act 775, which must meet financial and Network Adequacy standards regulated by the Arkansas Insurance Department and Department of Human Services, respectively.
This is the 26th new company Kerr has granted authority to in 2017 and the seventh Arkansas-based company. Since becoming Commissioner, Kerr has welcomed 61 new companies to Arkansas.
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