Arkansas Medical Insurance Plans
Medicare is a federally sponsored health insurance program available to those over the age of 65, as well as to individuals who have certain disabilities. At the state level, however, there exist specific organizations that help beneficiaries better understand the Medicare process, and Medicare recipients may even qualify to receive state subsidies, depending on their circumstances. Consider the following information if you are interested in obtaining Medicare coverage in the state of Arkansas.
Medicare Supplement Insurance (Medigap) Policies
Arkansas does not mandate insurance carriers to sell Medicare Supplement Insurance (also called Medigap) policies to Medicare recipients under age 65. However, in 2017 there are two insurance companies offering Medicare Supplement Insurance policies for qualifying individuals under 65: Liberty National Life Insurance Company and United American Insurance.
Mini-COBRA Policies (Small Group)
Arkansas state law requires small employers (less than 20 employees) to offer COBRA continuation coverage for 120 days to employees who were covered under the company group insurance plan for at least three months immediately prior to coverage ending.
Arkansas Medicare Savings Program
*The following data is from 2017 and is based on federal amounts. If your income and resources are slightly higher, you should still apply, you may qualify for benefits even if your income is higher than the limits listed.*
- *Qualified Medicare Beneficiaries (QMBs): For individuals with a monthly income under $1,010 or couples with a monthly income under $1,355 who are receiving or are eligible for Medicare Part A, the state pays all premiums and deductibles for Medicare Parts A and B, Medicare Part A co-payments, Medicare Part B coinsurance, and the Part B late enrollment penalty (if applicable).
- *Specified Low-Income Medicare Beneficiaries (SLMBs): For individuals with monthly income under $1,208 or couples with monthly income under $1,622 who are receiving Medicare Parts A and B, the state pays the Medicare Part B premium and the Part B late enrollment penalty (if applicable).
- *Qualified Individuals (QIs): For individuals with monthly income under $1,357 or couples with income under $1,823 per month who are receiving Medicare Parts A and B, the state pays the Medicare Part B premium and the Part B late enrollment penalty (if applicable).
- *Qualified Disabled and Working Individuals (QDWIs): The state pays for Medicare Part A premiums for individuals with a monthly income under $4,045 and couples with a combined income under $5,425 per month.
*Data from Medicare.gov
Arkansas Senior Health Insurance Information Program (SHIIP)
The Arkansas SHIIP is a one-on-one counseling service to help Medicare beneficiaries and their families and caregivers understand their Medicare options. It is an independent organization made possible by federal funding with no ties to health insurers. Arkansas SHIIP is staffed with trained volunteers who provide expertise in Medicare benefit programs and assistance with applications.
Low-Income Subsidy (Extra Help) for Prescription Drugs
In 2017, you may qualify if you have up to $17,820 in yearly income ($24,030 for a married couple) and up to $13,640 in resources ($27,250 for a married couple).
If you live in Arkansas and have questions about the benefits listed above and how to choose the health care coverage that is best for you, consult with one of our Medicare Solutions licensed sales agents for customized help. Our licensed sales agents can help you compare plans in your area to ensure you find the Medicare insurance benefits that are right for your needs.