Nursing Home Fees Planning

Dominating this subject at the moment is the Care Act 2014 and the detailed Regulations which will be added.

The first part of the Regulations is currently in the consultation stage. This is due to end 15th August and the final rules will come into effect in April 2015.Long Term Care Planning Suffolk Norfolk

Among various topics up for grabs is the possible scrapping of the Disregard for Capital Investment Bonds. A useful financial planning tool which we expect to be lost.

The second part, including thorny questions such as the cap on care costs, will have its own separate consultation later this year with implementation due in April 2016.

Pension Reforms
The Government is also interested (clause 4.21 of the consultation) in seeing how the planned changes to pension rules which will make pension funds more accessible, could affect the funding of care fees.

This will need considerable vigilance.

Social Care and Healthcare
The Care Act is solely concerned with Social Care although it does set out to further define the borderline with the NHS responsibilities for Healthcare.

Professionals believe that the number of people, many of whom are paying for care themselves, actually entitled to full funding of their care by the NHS could actually be as much as three times the number the NHS currently pays for.

This is a serious question which needs greater scrutiny by those responsible for care recipients.

Guide to Long Term Care