Health care costs are skyrocketing for most Texas residents and others around the country. Those with reputable Insurance plans still often face outrageous premiums and high deductibles. Unfortunately, the likelihood of a catastrophic illness or injury increases as the population gets older. The long-term care required for these medical situations can be a personal and financial burden for most, even for those in a higher income bracket.

A national industry survey recently showed that nearly half of the adults over the age of 50 who had over $150,000 in household income were concerned that they would be a burden to their families one day. Of this same group, just slightly over a quarter of them had any type of long-term care insurance Policy in place. Yet, over 70 percent of them hoped that their families would take care of them should the need arise.

While many do not make plans for their future care needs, statistics show that 70 percent of individuals over 65 need long-term care at some point in their lives. Since most do not have insurance for this, the expenses must come out of pocket. The average annual policy premium for long-term care policy is around $3,500. Certainly, this seems quite expensive; however, nursing home costs and skilled care expenses may be overwhelming.

It is important to discuss options with family members while everyone is able to participate. A Texas attorney familiar with elder law can provide valuable input into these discussions. A respected lawyer will help clients -- regardless of income level -- develop a plan that takes their personal needs into consideration while planning for long-term care.