Quote:
Originally Posted by 57 On Red
Quite. My family has recent experience of the system in operation. It's grim, and it costs, a lot, but it's reasonable.
As has mine - both home care, and residential care.
Home care might cost around £5k a year for 1 hour a day, or £10k a year for 2 hours a day.*
Residential care is averaged at £30k a year for residential care; £40k if you need nursing.
The point I'm making is that if you're unlucky enough to need residential care, it would wipe out your entire assets down to £23500 in less than 5 years in Epcfast's example.
No one is going to argue that under the new system, people needing care at home are going to be better off - they are not. However, people needing residential care most probably are, and as I've pointed out earlier there is always going to be a relationship where people needing home care eventually need residential care - so they lose on home care, and gain on residential care.
Anyway, this is just my view having experienced the system. I'd personally rather know I'm guaranteed £100k, rather than face the care home lottery where I might get more, but I might also just get £23500.
Last edited by Elrazor; 06-03-2017 at 04:07 PM.
Reason: * of course, family members can always help with care and avoid paying anything, as my family did.