The means test limits for care home purposes is set to increase on 8 April. The upper limit has in...
The means test limits for care home purposes is set to increase on 8 April.
The upper limit has increased from £18,500 to £19,000. Clients with assets in excess of this figure will qualify for no local authority help with long term care (LTC) costs.
The lower limit increases to £11,750 up from £11,500. Below this amount clients are entitled to keep their savings.
Chris Ellicott, technical manager at Age Concern Financial Partnerships, believes the amounts should have been increased by a more substantial figure.
He said: 'The amounts are increasing, but it is not going to be enough to protect people's homes as house prices are shooting up. The low increase emphasises that means test limits will stay at low levels.'
As a result, clients that own their own home are unlikely to qualify for any State support.
'The means test levels are no where near house values,' Ellicott added.
He also said the increase indicates a lack of support from the Government.
'With house prices rising at a faster rate than means tests levels, more and more individuals will be forced to sell their home to pay for care. It does offer a bit of help, but it is clear the State will not look after your savings for you.'
