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Originally Posted by mrmistoffelees
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.
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I don't know why they didn't keep the existing level of 23.5k and then limit the NI increase to 1%
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Theoretically what is there to stop you spending the £86,000 cap in a shorter period of time? If you choose a more expensive care home, where is the extra going to come from? If it comes from their assets, that £86,000 will soon disappear.
Those with £20K-100K assets, will have to have a non-house based asset surplus to cover their required contributions, or else
they will have to sell the house at some point in time.
When people get to that stage, that can't do anything with those assets other than spend it on their care. Why should the taxpayer be expected to pick up the tab for those with over £100,000 in assets, after reaching the £86,000 cap?
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Under the social care plans, no-one will have to pay more than £86,000 for care across their lifetime, while anyone with less than £20,000 of assets will get free care.
People with less than £100,000 of assets will see their care costs subsidised.
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