Care costs break £50k threshold
Caring for someone aged over 65 now costs an average of £50,000 if they are to be adequately supported in their later years.
A new report commissioned by Bupa shows that the total average cost of care is higher than previous Government estimates because they have excluded accommodation costs from the total. Bupa believes that ‘hotel’ costs of living in a care home (such as utilities and food) should be part of the social care package so policy makers and the public estimate the true cost of care and can better prepare for older age.
The new research, was undertaken for Bupa by the Personal Social Services Research Unit which Bupa hopes will help inform Andrew Dilnot’s Commission on Funding of Care and Support, which is looking into how best to fund adult social care in the future.
It reveals that most people will need some social care support in their lifetime and that nearly one in five (17%) of over-65s will need long-term care costing more than £100,000. Under current arrangements, most people have to make some contribution towards this, with