The State of Arkansas participates in the federal/state partnership program. The program was authorized when the federal Deficit Reduction Act of 2005 became law. It provides consumers with additional “dollar-for-dollar” asset protection if they exhaust the benefits from their qualified long-term care policy.

This “dollar-for-dollar asset protection” or “asset disregard” will impact the spend-down requirements if you exhaust the benefits from the policy. If you have a qualified Arkansas Partnership Long-Term Care insurance policy and exhaust all of your benefits you are able to protect your estate, based on the total amount of benefits paid by the policy, and still qualify for Medicaid.

Long-Term Care Medicaid spend down is $2000. A spouse’s minimum asset allowance is $24,720

Most states have reciprocity with other states' long-term-care partnership programs including Arkansas.

The state of Arkansas permits the same tax deduction as is allowed for federal income tax purposes for premiums paid for the purchase of qualified LTC insurance. The federal tax incentives also apply.

A variety of products are approved in Arkansas for Long-Term Care planning.

Arkansas Long-Term Care Costs

Home Health Aide Average Monthly Rate $3,432
Homemaker Services Average Monthly Rate $3,423
Adult Day Care Average Monthly Rate $1,733
Assisted Living Average Monthly Cost $3,013
Skilled Nursing Home Semi-Private Monthly $5,171
Skilled Nursing Home Private Average Monthly $5,779