The statistics for Texas and the rest of the country say that seven out of 10 people over age 65 will need some level of nursing home care at some point. It is an unfriendly topic, one that most would prefer to file away in that special drawer called "procrastination," but the economic figures are so foreboding that it is a topic that needs to be discussed. The fact is that paying for long-term care is such an expensive proposition that many people may be well-advised to consider long-term care insurance.
The harsh details are that nursing home costs generally range from $5,000 to $10,000 per month. That can come to at least $300,000 for an average stay. The bad news is that this tab is not covered by health insurance or Medicare. That is a big chunk of worry to digest at one time, at least for those who do not have ice water flowing through their veins.