Arkansas Long Term Care Cost and Insurance Partnership Information
The Arkansas Long Term Care Partnership was passed to further boost the state's efforts to prepare and educate its citizens regarding the advantages of acquiring a long term care policy for their future needs.
With a total population of 2,808,900 as of 2009, 14.3% of this belongs to the bracket of persons aged 65 years and above. 17,889 of which are residents in the 236 certified nursing facilities, or 72.8% nursing facility occupancy rate.
The state's long term care partnership program lets the policyholders plan for their needs when they retire. They intend to keep the senior citizens from spending their hard-earned and life-long savings to expensive insurance policies.
Below is the 2010 median cost of care data as accumulated by Genworth Financial.
| Region | Home Health Aide Hourly Rate (Medicare Certified) |
Assisted Living Facility Monthly Rate (Private room) |
Nursing Home Daily Rate (Semi-private room) |
Nursing Home Daily Rate (Private room) |
| Fayetteville | $17 | $2,715 | $148 | $160 |
| AR/OK - Fort Smith | $15 | $1,725 | $130 | $142 |
| Hot Springs | $16 | $2,418 | $135 | $150 |
| Jonesboro | $15 | $2,300 | $138 | $145 |
| Little Rock | $15 | $2,560 | $145 | $160 |
| Pine Bluff | $16 | $2,150 | $120 | $145 |
| Rest of State | $15 | $2,700 | $134 | $150 |
Features of the Arkansas Partnership for Long Term Care Insurance
- Must have a minimum daily benefit amount
- Must have a 3-year minimum benefit period
- Must have inflation protection at younger ages
A policyholder must also be a legitimate state of Arkansas resident when the coverage became operative. The Partnership program also demands insurance companies who issue Partnership policies to come up with a report consisting of the amount of benefits paid and an acknowledgement of a terminated policy.
Long Term Care Insurance Inflation Protection in Arkansas
All applicants for long term insurance must be offered inflation protection as stated on Arkansas Rule 13. Based on Arkansas Rule 94, all partnership policies must have inflation protection for policyholders until they reach the age of 75. If the requirements for the inflation protection are not sustained, the partnership status might be forfeited.
Medicaid Eligibility in Arkansas
Medicaid eligibility has specific rules for those who are planning to enroll in their long term care partnership program, as set by the Arkansas Department of Human Services. Arkansas will cooperate with the other states for insurance policies and the details of the reciprocity agreements are to be published by Centers for Medicare and Medicaid Services (CMS).
A Long Term Care partnership policy does not ensure access to Medicaid. Individuals who intend to apply for the partnership must conform to the all other Medicaid eligibility qualifications and requirements in order to be entitled for Arkansas Medicaid policy.
The eligibility is determined on a case-to-case basis and completed by the applicant's local Department of Human Services (DHS) county office. It has financial and non-financial requirements, which may include proofs of income and other financial resources, Arkansas residency proof of citizenship and identity, and a Social Security number. Applications may be done online, by telephone, fax or mail.
Medicaid Coverage in Arkansas
The Medicaid coverage and benefits will be discussed by an eligibility worker during an interview with those who will apply for Medicaid insurance. Medicaid caters to aid the policyholders with their needs which may include, but not limited to, emergency hospital services, physician services, nursing facility care, laboratory expenses, and payment of Medicare premiums.
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