Paying for Care

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News Post

Self-funders can still cap their own care costs

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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

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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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News Post

Five star service

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See what people think about the service and advice they received from Eldercare Solutions by visiting the Trading Standards Buy with Confidence website.

buy with confidence

 

 

 

News Post

Half the UK to pay more than £177,000 before cap reached

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While the introduction of the £72,000 limit on care spending has been widely anticipated, Partnership has warned that many consumers may need to spend the equivalent of the value of their home before they reach it.

The typical English homeowner would need to spend £177,500 on social care costs over more than six years before they hit the cap, according to Partnership, which calculated this is equivalent to 92 per cent of their housing equity (£193,426).

Under the new system, while a person in England may spend…

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News Post

The Alzheimer’s Show

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Come and visit us at the Alzheimer’s Show taking place at Olympia London on the 16th and 17th May.  The event will give you direct access to the best information, products and services as well as practical help and solutions for families caring for a person with dementia.

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

Thinking about downsizing?

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A new website has been launched, providing advice and practical support to assist people wishing to downsize.

According to www.downsizingdirect.com, older homeowners could get their hands on £100,000 in capital and save up to £2,000 a year in running costs if they were able to move to a smaller property.  Enabling them to move would also help to tackle the housing crisis, with “last-time buyers” potentially selling at least a million family-sized homes.

Eldercare Property Partners is pleased to be a key partner of this…

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News Post

Speak to the experts

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Bupa has launched a new, free service providing advice on aged care to the people that need it.  Call 0333 920 8189 to speak to an expert or to obtain more information about their care homes.

Bupa Helpline

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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