Arkansas Long-Term Care Partnership Program

The Arkansas Long-Term Care Partnership is a new innovation that combines private long-term care insurance coverage with Arkansas Medicaid. The AR Long-Term Care Partnership program was created to reward residents of Arkansas who plan ahead for their future long-term care needs by providing them with private long-term care insurance coverage and the ability to receive Medicaid assistance without having to spend down the larger portion of their assets.

The Arkansas Long-Term Care Partnership program works in the same manner as most all other partnership programs, in that the program provides a dollar-for-dollar asset protection. Each dollar your long-term care insurance partnership policy pays out in benefits entitles you to keep a dollar of your assets if you ever need to apply for Medicaid.

Under the federal Deficit Reduction Act of 2005, Arkansas is an authorized Long-Term Care Partnership program state. Arkansas Long-Term Care Partnership policies must be tax-qualified, contain certain consumer protection provisions and provide inflation protection.

The average costs of care on a daily basis in the state of Arkansas are listed below:

Homemaker Services
$106
Home Health Aide
$107
Adult Day Care
$64
Assisted Living Facility
$92
Nursing Home, Private Room
$161
Nursing Home, Semi-Private Room
$147

*This information came from the Genworth 2012 Cost of Care Survey.

To request an Arkansas Long-Term Care Partnership quote, click here.

For further information and complete details of the Arkansas Long-Term Care Partnership Program visit the Arkansas Long-Term Care Partnership Program official website.


 

Long Term Care Partnership Only

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