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Protecting savings from nursing home costs
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I was reading recently that the are changes afoot, and that there will be a maximum lifetime charge for care, and that the means test threshold would be significantly increased.
It's not quite as simple as it sounds, and there are notional splits of care cost and accommodation cost, so it would still actually cost more overall than the stated capped care figure. Also the limit is based on what a local authority would pay, so someone voluntarily choosing a more expensive place does not reach the limit faster.
Some of the info may be based on press releases on proposals, but it seems to have been passed.
http://www.ageuk.org.uk/home-and-care/social-care-funding---the-lowdown/
http://www.saga.co.uk/money/news/2014/july/what-you-need-to-know-about-care-home-fees.aspx?pid=mn
https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/268683/Factsheet_6_update__tweak_.pdf0
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