The problem is, if you are faced with a situation where you or your spouse require long-term care, where will the money come from to pay for it? Many families today are two-income families and require both incomes to meet their current financial needs. There is not enough extra money for a long-term care situation, particularly if one of you loses the ability to earn an income because of an accident or illness. With the average costs listed above, again, we have to ask the question, where will the money come from to pay for it?
The examples that follow will be based on the Combined Average shown above for Texas.