Meeting the cost of care is a growing issue for many people in the UK. As life expectancy continues to lengthen more of us can expect to require some form of long term care.
Whatever your circumstances the costs involved can be daunting to say the least. The 'single' average cost of residential care in the UK is currently estimated at £31,200 a year. If nursing care is also required, this can rise to £43,732 a year*. While the state can help with some costs, eligibility for help is limited and many people find themselves over the threshold which state support is provided, currently £23,250 in England (with national variations).
The whole subject to state care funding continues to receive increased political and media attention. Following the Government announcement in 2017 that it would not be taking forward plans to implement the highly contemplated cap on care. They have instead committed to a fresh consulation on the issue of social care and how to fund it, with a Green Paper expected to be issued in Summer 2018.
Unfortunately, for now, it remains the case that the issue surrounding the care and the funding of care costs can be detailed, complex and will often vary depending on your personal requirements and location. For more information to help you make the right decision for your care, please get in touch.
* Laing and Buisson Report 2016/17