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Arkansas Long Term Care Insurance Information


Arkansas, as of 2015, has an estimated population of 2,978,204 residents. 50.9% of these individuals are females.

According to America’s Health Rankings, a major health factor that is prevalent in the state is obesity, with 35.9% of residents recorded with a body mass index of more than 30.0. Connected to obesity, 12.7% of adults have responded as being diagnosed with diabetes. Additionally, Arkansas has registered a high count of cancer deaths, with 216.9 fatalities per 100,000 individuals in the state.

More than 93,000 seniors in Arkansas receive LTC in their homes. 15,000 have been recorded to stay in nursing facilities, with the number expected to increase to more than 142,000 by 2025.

Average Cost of Long Term Care Services in Arkansas

Annual costs (2016) for LTC services in Arkansas are as follows:

Home Health Aide (Daily Rate): $113

Nursing Home Care (Daily Rate, Semi-Private Room): $161

Nursing Home Care (Daily Rate, Private Room): $193

Assisted Living Facility (Monthly Rate, 1 Bedroom-Single Occupancy): $3,133

Arkansas Long Term Care Partnership Program

Arkansas has an approved state LTC partnership program. The program was approved by the U.S. Department of Health and Human Services last July 1, 2008. The state will honor partnership from other DRA (Deficit Reduction Act) partnership states.

What is a Long Term Care Partnership Program?

The partnership program is designed to encourage people to purchase long-term care insurance by providing a plan that will allow Medicaid to disregard some or all assets for Medicaid eligibility and estate recovery purposes. Through partnership plans, people will receive asset protection whenever policy benefits are exhausted and will need continued benefits through Medicaid.

Partnership qualified insurance policies allow their holders a much easier time of applying for Medicaid when their current policy benefits have run out. Instead of needing to reach below the asset threshold set by the federal health care program, policy owners can protect an amount of assets equal to their total benefits – allowing them to continue receiving care without the risk of losing their assets to Medicaid estate recovery procedures.

For insurance policies to be certified as Partnership policies in Arkansas, the Deficit Reduction Act of 2005 has set a number of requirements that must be met:

  • Issue Date: The policy must be issued after the effective date of the Partnership Program in the state (July 1, 2008).
  • State of Residence: The policy holder must be a resident in Arkansas at the time the coverage became effective.
  • Inflation Protection: All Partnership policies must include inflation protection. Policies issued to individuals under age 61 must provide compound annual inflation protection. Policies sold to individuals who have attained age 61 but not yet attained age 76 must include some level of inflation protection. Inflation protection may be offered, but is not required to individuals who have attained age 76.
  • Qualified under Federal Tax Law: All Partnership policies must adhere to the definition of a Long Term Care Insurance policy in section 7702B (b) of the Internal Revenue Code of 1986.
  • Consumer Protection: The policy must adhere to the requirements defined in section 1917(b)(1)(C)(iii)(III) of the Social Security Act (42 U.S.C. section 1396p(b)(1)(C)(iii)(III).

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