Mississippi Long Term Care Costs & Insurance Quotes
Mississippi's senior population is rising faster than any of the other age groups in the state. The 65 and older age bracket noticeably makes up 13% of the state's current total population but it has not reached its peak yet according to demographers. This percentage is expected to double sometime 2050.
As a nation gets older the demand for long term care increases but if only a small percentage of that nation is financially prepared to face the high cost of care, then a huge problem is in the offing. That is unfortunately the case of Mississippi as it happens be the state with the highest percentage of elderly Americans living in poverty.
Long term care costs in Mississippi are increasing faster than nationally. As a matter of fact, the cost of in-home care services here has increased 7% over the past five years as opposed to 1% on the national level. The state's nursing home cost, on the other hand, has increased 5% over the same period while nationally it has climbed only 4%.
Below is the median cost of care in Mississippi's key areas according to Genworth Financial's annual Cost of Care Survey.
|Region||Homemaker Services Hourly Rate
|Home Health Aide Hourly Rate
|Assisted Living Facility Monthly Rate
|Nursing Home Daily Rate
|Nursing Home Daily Rate
|Rest of State||$16||$16||$2,600||$196||$205|
Mississippi Long Term Care Insurance Options
Middle-class residents of Mississippi who are looking for ways to prepare their long term care needs have many options in the area of Long Term Care Insurance. This type of insurance product covers people's long term care expenses up to what has been agreed upon in their contracts.
Mississippi has yet to establish a Long Term Care Partnership Program but for the meantime, interested buyers may get in touch with their long term care insurance representatives to discuss a potential coverage.
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