A quarter of pensioners stand to lose their home and savings to pay for care
One in four pensioners will end up losing their home and the majority of their savings in order to pay for care home fees, a new report has revealed.
Currently if a person requires residential care for a social reason and has assets in excess of £23,250 they are required to fund their own care. However, with care now costing on average £27,000 a year, it is easy to see how a person’s assets can be, very quickly, eaten away. In fact, as many as 40,000 people who pay their own care home fees will see their assets so depleted they will end up relying on the state.
Should this happen, and the patient is unable to continue to pay for their own care, they could face being moved to a smaller room, forced to share or even face relocation to a lower-quality home.
Ros Altmann is from the over 50’s group, Saga:
“It is outrageous that we are in a position, in our advanced, economy, where we can’t say to someone that – no matter how much you have paid, no matter how much you have saved – we can guarantee you will be able to stay in the same place to get the care you need.”
If you, or a loved one, are going into residential care and are unsure whether you are eligible for NHS funding, or if you believe you have been assessed incorrectly, our dedicated team of legal experts can offer some much needed clarity.
As part of our service, you will benefit from a detailed discussion with one of our team who will carry out an assessment of your eligibility. If we believe you are entitled to NHS continuing care, and your Primary Care Trust (PCT) has deemed you ineligible, we can make a claim on your behalf on the grounds of either non-assessment or incorrect assessment.
Content correct at time of publication