Factoring the cost of social care into financial planning became easier last week with the government's confirmation it would be capped at £75,000. But is it as simple as it sounds?
Government plans to cap the cost of social care at £75,000 will bring “greater peace of mind” to many people across the country, according to health secretary Jeremy Hunt. The government’s move to make the system fairer was rolled out to stop the “scandal” of people being forced to sell their homes to fund unlimited long-term care (LTC) bills. At present, up to 40,000 people per year are forced to sell their properties to pay for care. The coalition plans to cap the amount anyone would have to pay at £75,000. It also wants to increase the means-tested threshold for people going into a...
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