Selecting the right care for ourselves, or a relative, is something few of us have experience of. After all, for most of us, it is something we may only have to do once. It is however a growing issue for many people in the UK and, as life expectancy continues to lengthen, it is something that an ever-increasing proportion of the population will need to address.

If you are planning for your own care, the costs involved can be daunting to say the least. The average cost of residential care in the UK is currently estimated at £622 per week. If nursing is also required, this can rise to £856 per week. The average cost of care in your own home is £15.52 per hour*. However, these averages not only vary from region to region throughout the UK, but are suppressed by local authority rates, and fees of £1,000 to £1,250 a week are not uncommon. While the state can help with some costs, eligibility is limited and many people find themselves over the threshold at which state support is provided.

The subject of state care funding continues to receive persistent attention, with the Government recently announcing that the introduction of the greatly anticipated care cap, which had previously been until delayed until 2020, would be abandoned.

The Government have committed to a further consultation on how to improve care and support for older people and tackle the challenge of an ageing population, with a promise of the proposals being published later this year.

We hope this guide serves to point you in the right direction, and starts to take the stress out of assessing your options. When you are ready to make some decisions St. James’s Place have a number of specially qualified advisers who can help you navigate the maze of paying for your care fees.
(* Source: Laing Buisson Care of older people, UK market report 2017/18 *)