July 2015

News Post

Self-funders can still cap their own care costs

Posted on July 20, 2015

Those who are looking for the opportunity to cap the amount they have to spend on care costs do still have the option to buy a care fees payment plan (sometimes called a care annuity).

If affordable, this type of plan secures a guaranteed income for life and means that the balance of the estate is protected against future, ongoing care costs.

There are two versions of the plan – one that you buy with a lump sum, up front payment which starts paying an income straight away…

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News Post

Care cap delayed until 2020

Posted on July 20, 2015

Plans to cap the cost of care at £72,000 have been shelved until 2020 after lobbying from cash-strapped local councils.

The Department for Health said in an announcement that it was still ‘committed to implementing the cap on care costs’ but the implementation date would move from 2016 to 2020.

The change in deadline has come after lobbying from the Local Government Association (LGA), which represents councils. The LGA is concerned that councils, which have been hit by budget cuts, will not be able to afford to…

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