Long-term care expenses represent a significant financial risk for the elderly. Most residents face an average stay of two to three years. Long-term care is extremely expensive: the average rate for a semi-private room in a nursing home in the Golden Triangle area was over $50,000.00 per year in 2015. A three-year stay will cost approximately $165,000.00, not counting ancillary supplies or prescription drugs.
Many spouses cannot afford to support themselves and pay the nursing home. Fortunately, the law recognizes this and there are numerous spousal impoverishment provisions of which an experienced elder law attorney is aware. Many cannot afford to go without help.