Mississippi Long-Term Care

Specific long-term care information pertaining to Mississippi.

Important State Information

Federal Partnership Program

Mississippi has yet to adopt the federal/state partnership program although efforts have been made to do so. The state does, however, offer state tax benefits if a consumer purchases a qualified long-term care insurance policy.

Reciprocity

Since Mississippi has not yet adopted the federal long-term care partnership program there is no current reciprocity with other partnership states. This means if you own a partnership policy from another state and move into Mississippi your dollar-for-dollar asset protection will not be honored. However, you can receive benefits in the state from your policy.

Medicaid

Long-Term Care Medicaid spend down is $4,000. A spouse’s minimum asset allowance is $126,420. Your spouse’s minimum monthly income allowance is $2,313. *  

For more information about the Medicaid program visit www.medicaid.gov.

Products Approved in Mississippi

A variety of products are approved in Mississippi for Long-Term Care planning. These include tradition policies, short-duration plans, and asset-based plans.

Tax Incentives

A credit is allowed against income taxes imposed under Chapter 7 in an amount equal to 25% of the premium costs paid during the taxable year for a qualified LTC insurance policy that offers coverage to either the individual, spouse, parent or parent-in-law or dependent. The credit shall not exceed $500 or the taxpayer’s income tax liability, whichever is less, for each qualified Long-Term Care insurance policy. Any unused tax credit may not be carried forward to future tax years. No credit is allowed if the taxpayer deducted the premium amounts when net taxable income was calculated or the premiums were excluded from net taxable income.

*The federal government sets a new minimum and maximum amounts each year, but states can set their own minimum requirements at any level between the federal limits. This information is based on the best available sources.

Mississippi state emblem
State Breakdown
State Partnership Program
State Tax Incentives
Federal Tax Incentives
Rate Stability Rules
Medicaid Spend Down $4,000
Minimum Asset Allowance $126,420
Minimum Monthly Income Allowance $2,313

Calculate the Cost of Care in Mississippi

View the costs of Long-Term Care in your area. Use the slider below to view future costs of care services with inflation.

Mississippi Median
Long-Term Care 2019 2034(+16 Years) 2019 2034(+16 Years)
Homemaker Services $40,063 $62,417(+$23,521) $40,063 $62,417(+$23,521)
Home Health Aide $40,063 $62,417(+$23,521) $41,241 $64,252(+$24,212)
Adult Day Care $9,373 $14,603(+$5,503) $10,712 $16,689(+$6,289)
Assisted Living Facility $43,167 $67,253(+$25,343) $43,569 $67,879(+$25,579)
Semi-Private Room $82,709 $128,858(+$48,558) $87,596 $136,472(+$51,427)
Private Room $87,596 $136,472(+$51,427) $96,056 $149,652(+$56,394)
MonthYear

Long-Term Care Throughout Mississippi

Jackson

Jackson is the capital and largest city in Mississippi. The average skilled nursing facility cost runs $6,540 a month. The cost of an Assisted Living Facilityaverages $4,123 a month. Adult Day Care Centers average $1,517 a month. Care at home, based on a 44-hour week, averages $3,241 a month.

More Locations

Other population centers in Mississippi include Biloxi, Brandon, Clinton, Columbus, Greenville, Gulfport, Hattiesburg, Horn Lake, Madison, Meridian, Olive Branch, Oxford, Pascagoula, Pearl, Ridgeland, Southaven, Starkville, Tupelo, and Vicksburg.