Deciding where to spend your later years can be a difficult decision. If you’re looking for a place with a laid-back, easy pace of life, then Mississippi could be right for you. Here’s what older adults can expect when moving to Mississippi.
One of the most significant benefits of living in Mississippi is that it is very affordable. Many experts rate Mississippi as the most affordable state to live in the United States. Median home prices and rental prices are much lower here than they are in other states, so you won’t need to break the bank to find a comfortable place to live. Other living expenses are generally very low here as well, so you can enjoy a good quality of life even if you’re on a budget.
Another benefit of living in Mississippi is warm and pleasant weather. This area doesn’t get too cold or experience snowstorms in the winter. Summers can be hot and humid with thunderstorms. There’s plenty to do outdoors in Mississippi. Cities like Gulfport and Biloxi have beaches on the Gulf of Mexico, and while inland, there are plenty of lakes and rivers to go boating. There are also plenty of nature trails that run through the state for hiking and biking. Exercise and time outdoors are essential for a healthy lifestyle as an older adult.
As you get older, you might prefer a slower, more laid-back pace of life. Mississippi has a small-town feel and is known for Southern hospitality. Even in larger cities like Jackson, the culture is very welcoming and friendly. This focus on community is great for older adults looking to make friends.
Mississippi is a very tax-friendly state, especially for older adults. Income tax rates are less than 5 percent, and property taxes are very low as well. There are no estate taxes in Mississippi. There is also no state income tax for most forms of retirement income, including Social Security, 401ks, or IRAs. This allows you to keep more of your money in retirement.
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It’s important for older adults in Mississippi to have a reliable health insurance plan. Medicare in Mississippi covers most adults over the age of 65 as well as disabled adults. Medicare covers inpatient hospital services under Part A and most outpatient services under Part B.
Medicare recipients can supplement their coverage with a Medigap plan, which provides coverage beyond what’s included in Original Medicare. You can also opt to add a Part D plan, which covers prescription drugs. Many low-income residents will purchase a Part D plan on its own and then will qualify for the state’s low-income healthcare subsidy.
Finally, you can opt to purchase a Medicare Advantage (Part C) plan instead of Original Medicare. Medicare Advantage plans are provided by private insurers and often have extra benefits beyond what Original Medicare provides.
Mississippi is a great place to live for older adults. If you want to learn more about your Medicare options in Mississippi, contact Time For 65’s licensed partnered agents. Fill out this form or give us a call today to see how we can help.
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