Quote:
Originally Posted by nomadking
So if I have £86,000 and need to go into care, I can choose somewhere that costs that each month? Then what? As there is to be a £86,000 lifetime cap, I wouldn't have to pay anything else for the same level of service. There will still have to a cap on funding, as there is now.
Unless in addition to the value of their house(ie not home, consult a dictionary), people have a surplus of £86,000 in assets, they will have to sell it anyway, which is what people are whinging about.
What's going to happen in 20 years time when the costs will have more than doubled?
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I understand it as between 23.5k and 100k you will be means tested for the government's contribution but you can pay no more than 86k in total
So, there's an increase in state funding from the current levels IF you have savings/assets above the 23.5k limit. Whilst those earning over 9k ish per year will pay more. Ultimately those with assets will pay less for their care.
---------- Post added at 14:20 ---------- Previous post was at 14:17 ----------
I don't know why they didn't keep the existing level of 23.5k and then limit the NI increase to 1%