Rapidly rising care costs

A new survey by consumer group Which? has found that the cost of providing care in the home has risen by an average of 160% during the past five years.

Over the same period of time, the number of areas in which state support is available to most elderly and disabled people has halved.

The Which? report suggests that local authorities are effectively rationing the delivery of care, as they face squeezed budgets.

They found only twelve local authorities in England and Wales still offering care to those assessed as having ‘moderate’ care needs.

The same Freedom of Information Act request made five years ago revealed 26 local authorities offering care to those assessed at this level, out of the 455 local authorities across England and Wales.

Those individuals that are required to pay for their own care, as a result of need and ability to pay, have experienced a variety of fee increases.

Fees for the provision of care in the home range of £6 to £20 an hour, depending on the area of the country.

One potential consequence of this lack of local authority provision and rapidly escalating costs is vulnerable elderly people opting to forgo care and struggle on alone.

Age UK believe this could have “the possibility of a disastrous result”.

Despite government plans to introduce a lifetime cap on some elements of care fees, it appears that local authorities remain without sufficient resources to cope with rising demand for care.

As our population continues to age, individuals will increasingly be responsible for funding their own care, which introduces numerous financial planning considerations.

Do speak to us to discuss the various options for funding the cost of care.

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