Changes to the Funding of Social Care – How does it affect me and what do I need to do about it?

Stuart Maher Watson Ramsbottom Solicitors

This afternoon, the government announced sweeping reforms to the funding of Social Care in England, and a new tax intended to pay for this, set to be introduced as of April 2022.

The changes announced bring in to force proposals which had been previously planned under the Care Act 2014, but postponed due to funding issues.

The key changes are that there will be a cap introduced on the maximum amount an individual can spend on care in their lifetime, set at £86,000, whilst there will also be a significant amending of the current asset limits on means tested support, raising the lower limit, beneath which care needs are fully assisted, from £14,250 to £20,000 and the upper limit whereby partial support is provided, from £23,250 to £100,000.

What Does This Mean For Me?

Whilst the changes will be of benefit to many, there remain hugely important reasons to seek advice to protect your assets against future care fee costs.

For instance, the £86,000 limit will only relate to care costs. All care homes will likely still require contributions towards their residents’ accommodation costs.

Furthermore, the partial support provided for those with assets between £20,000 and £100,000 is likely to be tariff-led in the same way as the current system, meaning many will still be required to use significant proportions of their assets to cover their care costs, possibly as much as £320 per week on top of their existing income.

If you are in any way concerned about the impact the costs of future care fees could have on your assets, we cannot stress enough how important it is to seek professional advice.

How Can Watson Ramsbottom Help Me?

There are many ways in which you can protect your assets against the cost of future care fees, and our experts are able to look at your individual circumstances and identify tailored solutions to do just this.

If you need such advice, speak to us today. Call Stuart on 01254 88 08 34, email, talk to us via live chat or alternatively complete our Contact Us form and one of our expert advisors will be in touch.

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