News for Advisers

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News Post

Most won’t reach the cap

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The planned cap on the cost of residential care will help only a small minority of elderly men and women according to a report recently issued by the Institute and Faculty of Actuaries.

The report suggests that just 8% of men and 15% of women entering care aged 85 are expected to reach the £72,000 cap that is due to be introduced in 2016.

Under the proposals, a person’s care home fees will effectively be split into 3 parts – a daily living cost, a Local Authority…

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News Post

New Dementia Support Service

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Dementia Pathfinders Community Interest Company is a social enterprise providing health and well-being services for people with dementia and their families and delivering education and learning programmes for people working in the dementia care field.

They value perspectives and experiences of people with dementia and their carers and supporters. They endeavour to work with integrity to ensure that the services they deliver truly reflect the needs and wishes of people with dementia, their carers and supporters and people affected by dementia in communities and organisations.

Take a look at their Read More

News Post

Elderly face much higher care cap

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A recent article published by BBC News reports that elderly people face paying £150,000 for residential care before they reach the proposed £72,000 care cap.

As we have previously posted in these news items, this is because accommodation costs do not count towards the cap.  Also, it is not the amount that you are actually paying in care fees that is counted but, instead, the amount your Local Authority would pay.

To read the full article click here

News Post

Cost of care underestimated

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According to a report issued by The Strategic Society Centre think-tank, people in Britain are ‘oblivious’ to the cost of adult care and the likelihood of their own need for care in the future.

Nearly half of all respondents to a survey said they did not know the average weekly cost of a place in a residential care home.  Of those that did answer, the mean figure suggested was £396.58 – around £140 below the average fee of £531.

 

News Post

Think you understand the care cap?

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Then you are in the minority.

Research recently commissioned by the Financial Times suggests that the care cap of £72,000 – intended to bring clarity and certainty to long-term care from April 2016 – is poorly understood, with thousands of people dangerously overestimating the new state safety net.

The FT commissioned a poll of people likely to need care in the next few years.  The results showed a high level of confusion over what costs will be covered, leaving many at risk of a financial shock.

Amongst the…

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News Post

A solution to the long-term?

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Chris Horlick, managing director of care at Partnership, provides his insights into the detail of the recently published Care Bill and what this means for people moving into care from 2016 and beyond.

To read the article in full click here

News Post

Betrayal of the elderly

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An article published today by Daniel Martin, the Daily Mail’s Whitehall correspondent, highlighted further shortcomings of recent social care reform.  He points out that, regardless of your financial position, entitlement to state help will only apply if your care needs are deemed ‘substantial’.

This is likely to leave many people without the state assistance that they thought they would receive.

To read the article in full, click here

News Post

If the cap fits

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The government has at last published its plans on care funding.  But who will benefit from the changes?

Read Catherine Llewellyn’s article in Health Investor magazine

News Post

Care cap to benefit ‘very few’

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A proposed governement cap of £75,000 on long-term care costs will benefit ‘very few’ of the people actually in long-term care reports Nicola Brittain in IFAonline

To read the article in full, click here

News Post

Numbers of self-funders increase

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New research from Laing & Buisson evidences that more people are funding their own care during their later years.

The study shows that a record total of 175,000 older residents in independent sector care homes (43.4%) paid every single penny of their long term care fees last year.  Another 56,000 (14%) people need to get ‘top-ups’ from family or friends in order to fund their care services, and William Laing says that these figures are only likely to increase further in the future.

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