Long-term care

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"Most people will end up in a care home eventually these days."

"Most people will end up in a care home eventually these days."

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The good news is most people won’t end up in a care home. The numbers could change, but currently only about 1 in 4 men and 1 in 3 women aged 65 will require care at some point in their lives. There is a rising trend for people to need care in their own home, but this is usually less expensive and often carried out by family and friends.

How social care is funded currently

Care costs can be very substantial if you have to pay these in full.

If the total value of all your capital exceeds certain limits you will be required to fund all or part of your care. Capital includes any savings and investments you may have plus the equity in your home may be included.

If you have more capital than the amounts shown in the map below, it’s very likely you’ll have to contribute to the costs of care:

PB cost of care

If you have less than these amounts, you may still need to contribute towards the costs of your care. In England, for example, you must have less than £14,250 in capital before the cost of your care will be funded entirely by the State.

In Wales, the figure of £50,000 applies to residential care costs. Non residential care costs are capped at £24,000.

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