Long-term care costs in Oklahoma continue to rise at a rate outpacing inflation, putting significant financial pressure on those in or near retirement. AARP members residing in Oklahoma can now take advantage of a new program designed by Genworth Financial Inc. to simplify the process of purchasing affordable long-term care insurance.

Recently introduced My Future, My Plan is a suite of long-term care insurance plans created exclusively for AARP members. The program is the result of Genworth combining its expertise in the area of the long-term care insurance products with what it has learned about AARP's demographics. With My Future, My Plan, local AARP members can access industry-leading features while maintaining the ability to customize a plan that falls within their price range and meets their lifestyle needs.

“Two-thirds of people over age 65 will need long-term care in their lifetimes,” said Buck Stinson, president of insurance products at Genworth. “The current economic downturn has depleted the nest eggs of many Oklahoma residents, making it more important than ever to plan ahead for future long-term care costs.”

According to a 2009 Cost of Care Survey conducted by CareScout, the annual cost for a private nursing home room in the U.S. is $74,208, or $203 per day. In Oklahoma, the cost has risen 6 percent a year over the past five years in Oklahoma City and 4 percent annually in Tulsa over the same time period. The median annual cost for a private nursing home room in Oklahoma ranges from $46,888 in Lawton to a high of $56,575 in Oklahoma City. The cost in Tulsa is $54,750.