The long-term care means test limits are due to change on 6th April, in response Saga has highlighted the fact that the annual increase has consistently failed to keep pace with the rising cost of care in both residential and nursing homes.
Saga comments "In England and Scotland the threshold of earnings above which someone will not be eligible for care funding support will increase from 6th April by 3.4% and 3.5% respectively. This is a step in the right direction towards reducing the regional differences across the UK"
Saga continued: "It's disappointing to see that care fees are increasing at a higher rate than the means test limits, in fact the cost for residential care rose by 5.5%* and nursing care has gone up by 4.7%*. The result being that a larger number of people are having to pay more for their care, and relatively, will have to use more of their capital before the government offers any financial assistance."
* Source Laing & Buisson Care of Elderly UK Market Survey 2007 & Laing & Buisson Care of Elderly UK Market Survey 2
** Forecast commissioned by Laing & Buisson November 2007 exclusively for Saga
Saga Care Funding Advice Service
* Independent and impartial advice
* All advisers have CF8 qualification as a minimum and are experts in all aspects of care funding legislation and the financial products available
* Initial discussions and advice is free
2008/2009 Local Authority Assessment Capital Disregard figures
Upper rate – from 21,500 to 22,250
Lower rate – from 13,000 to 13,500
The personal expenditure allowance [PEA} is increased to 21.15.
Upper rate remains unchanged at 22,000
Lower rate - increased from 17,250 to 19,000
The personal expenditure allowance is increased to 21.38
Lower Limit 12,500 to 13,000
Upper Limit 20,750 to 21,500
Northern Ireland :
Lower Limit 13,000 to 13,500
Upper Limit 21,500 to 22,250.
For further press information please contact the Saga Press Office on: 01303 771529.