Saga welcomes social care review but urges people to seek financial advice in the interimMonday 12 May 2008
Saga welcomes social care review but urges people to seek financial advice in the interim
Commenting on the government's proposed social care reforms, Saga says:
"We welcome Gordon Brown's decision to hold an in depth consultation looking at making care services fairer and more affordable. Action needs to be taken as soon as possible. Indeed our research shows that the future average cost of a 4 year stay in a care home is set to double from £112,312 to £223,476* in the next 20 years.* Saga will be entering a submission into the consultation process. However, naturally any reforms will take time to implement. It is essential for people to seek professional financial advice as most people could protect an inheritance whilst still making funding provision for their long term care needs."
*This figure is based on today�0027;s cost increased by inflation (2.5%) combined with increasing care home fees (3.5%).
For further press information please contact the Saga Press Office on: 01303 771529.
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