FPA Arkansas is an exciting and active organization. If you didn’t attend the VIP Conference in Tunica or you don’t regularly attend our bi-monthly membership meetings in Little Rock, you are missing a great opportunity to network with professionals in the field and you are missing some great educational opportunities. So, come join us, watch for future meeting dates in our newsletter and this website

In June 26, 2008 Governor Mike Beebe officially announced the kickoff of the Long Term Care Insurance Partnership in Arkansas. This announcement will give you a reason to call each of your clients and let them know about this new opportunity.

What is the Long Term Care Insurance Partnership? Beginning July 1 2008, the insurance companies that do business in Arkansas have the opportunity to offer what is called a “Qualified Partnership Policy for Long Term Care.”

Persons who purchase one of this Qualified Policies have an agreement with the State of Arkansas, specifically an agreement with Medicaid that says, "If the person uses up the benefits in the policy, the person may qualify for Medicaid and keep their assets equal to the benefit that used up in the Long Term Care Insurance Policy". As an example, let’s say a person buys a $200,000 Long Term Care Insurance Policy and uses up the policy after 4 years in the nursing home. The person can apply for Medicaid, keep $200,000 in assets and receive Medicaid assistance for the remainder of their nursing home care. Normally a single person is only allowed to keep $2,000 without the long term care insurance partnership policy.

The Partnership Policies are great news for your clients.

I look forward to see you at our next meeting.

Ed Haas

President of FPA Arkansas