When it comes to later life care, one question shapes every decision your clients will face: how to pay for it? While most people know care is expensive, few understand the complex and conditional funding landscape. Your clients are asking more than just what care costs; they are asking how to pay for it without compromising their financial legacy.
Your guidance in this area is invaluable. Let's break down the myths and realities of care funding in the UK.
The Most Common Myth: "The government will step in if I need care."
Reality: State support is limited, conditional, and often misunderstood.
- NHS Funding: Options like Funded Nursing Care provide a relatively small weekly contribution towards nursing costs in a care home. Continuing Healthcare (CHC) offers full funding but only for those with significant, ongoing medical needs. Eligibility is strict and assessments are complex.
- Local Authority Funding: A client may qualify for help, but only if they pass both a Needs Assessment and a Financial Assessment (a means test). The thresholds for this test vary across the UK; in England, for example, a client with assets over £23,250 is expected to self-fund in full.
The Sobering Cost of Care
With inflation and a shortage of care staff, costs are consistently rising. While figures vary, these are indicative weekly costs:
- Residential Care: Approximately £1,300 per week (£67,600 per year)
- Nursing Care: Approximately £1,600 per week (£83,200 per year)
- Home Care: £23 to £40 per hour
For clients with dementia or complex needs, you can expect a cost premium of 15% to 25%.
A Missed Opportunity: Unclaimed Benefits
An estimated £3.4 billion in support goes unclaimed by older adults in the UK each year. Benefits like Attendance Allowance and Carer's Allowance are not means-tested in the same way as social care, and even affluent clients may qualify.
Your role is not to know every rule, but to know where to turn. By starting informed conversations about the real cost of care, you become more than an adviser; you become an advocate.
