Arkansas Long-Term Care Insurance (*)

The Arkansas Insurance Department oversees long-term-care insurance in the state and is the consumer contact point for the Arkansas Long-Term Care Partnership — a program the department describes as having been created jointly by Congress and the Arkansas Legislature to help residents prepare for long-term-care costs.

The real value of a qualifying Partnership policy comes down to asset protection: if the policyholder later needs to meet Medicaid's income and other eligibility requirements, Medicaid disregards an amount of the person's assets equal to whatever benefits the Partnership policy already paid out. That's a specific asset-disregard feature tied to Partnership-qualified policies — it isn't a guarantee that every long-term-care insurance policy on the market in Arkansas comes with the same protection.