Medicare Supplement (Medigap) Policies

Arkansas has no law requiring the sale of Medicare Supplement Policies to any particular class of adults under sixty-five.

 

High-Risk Pool
The Arkansas Comprehensive Health Insurance Association provides access to health insurance to all residents of the state who were previously rejected coverage by private carriers due to their health. This high-risk insurance pool is available to all Arkansas residents who are HIPAA eligible, Medically eligible and HCTC eligible.

 

Mini-COBRA Policies (Small Group)
In Arkansas, the law requires smaller businesses to cover past employees for four months (120 days) after termination of employment.

 

State Medicare Savings Program
Most states have a form of premium support for low-income Medicare beneficiaries; the amount of support is directly correlated to the beneficiary’s income as a percentage of the Federal poverty level.

 

In Arkansas,

• Qualified Medicare Beneficiaries—individuals are covered who have a monthly income under $903 and couples with a monthly income under $1,215, The state pays all premiums for Medicare Part B, co-pays and deductibles for Medicare Part A and B;

• Specified Low-Income Medicare Beneficiaries—individuals are covered who have a monthly income under $1,083 and couples with a monthly income under $1,457, the state pays premium for Part B;

• Qualified Individuals—individuals are covered with a monthly income under $1,219 and for couples with a monthly income under $1,640 and the state pays premium for part B.

 

Please note that for all types of beneficiaries there is an asset limit of $6,600 for individuals and $9,900 for couples.

 

State Health Insurance Assistance Program (SHIP)

Senior Health Insurance Information Program (SHIIP) is centrally administered by the Arkansas Insurance Department. SHIIP partners with eight regional Area Agency on Aging programs to provide Medicare information and educational programs to Arkansans. SHIIP partners with the Arkansas SMP and Arkansas Attorney General to protect seniors from Medicare fraud and abuse. SHIP counselors throughout the state are able to provide information and guidance on the following topics:

• Medicare Prescription Drug Benefit (Part D)

• Original Medicare and Supplemental Insurances;

• Medicare Advantage Health Plans;

• Claims and Billing Problems;

• Long-Term Care Insurance;

• Medicaid for Home and Community-Based Care;

• Medicare Savings Programs and more.

 

Low-Income Subsidy (“extra-help”) for Prescription Drugs
This program is a subsidy for Medicare Part D recipients with resources under $13,070 (or $26,120 for a couple) to receive money towards a Medicare prescription drug plan. The benchmark of support is different depending on which region of the country you live in. In 2012, the subsidy for Arkansas was $31.62.

 

If you live in Arkansas, and you are interested in getting a Medicare Plan, please contact the Medicare experts at eAmeriFamily Insurance.  They are industry veterans and will guide you through the process of getting the right Medicare, Medicare Advantage, MediGap, or Medicare Supplement Plan for you.