PayingForCare.org launches care cap calculator

Helen Morrissey
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PayingForCare.org has launched a care cap calculator to help advisers and their clients make informed funding decisions.

The calculator will help people understand how much they will need to pay - and for how long - before they reach the Dilnot model cap. It will also help people understand how much they will still need to pay once the cap has been reached. The proposed Care Bill sets out legislation to introduce a cap on social care costs which will be set at £72,000. It will be introduced in April 2016. Currently 57% of people in residential care fund all or part of their long term care fees. 24% of these self-funders depleted their assets to the point they fell back on the state at a cost of £425m in...

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