“New measures for funding care to ensure the elderly or disabled get the care they need without facing unlimited costs”
Starting April 2017, Financial support will be extended to those with assets worth up to approx. £123,000 (£100,000 in 2010/11 values) – currently up to £23,250.
The benefit will be means tested and scaled down between the lower threshold approx. £17,500 in 2017 ( currently £14,250) and the new upper limit of approx £123,000.
Assessed payments toward “eligible” care costs will be limited to approx. £75,000 from April 2017.
“Room and board” costs will not count toward the Cap and a contribution will be required of around £12,000 pa toward this cost.