Categories
Uncategorized

Why Risk Writing An Open Cheque From Your Savings For Care Fees When You Could Determine Costs Now?

However, there can be no doubt that the cost of care fees (both in private care homes and at home care) is increasing, for example, the national average cost of a private care home with nursing is £570 per week according to research conducted by Laing & Buisson. Bear in mind that that is just an average. The cost of care homes in and around the Tunbridge Wells area is considerably more than this.

There is also the issue of an ever increasing population aged over 65. Research suggests this is something that is expected to grow by at least another 50% over the next 30 years or so according to the Governments Actuarial Department with those aged over 85, expected to treble in the same period.

So if we know that life expectancy and, by consequence, the need for care is increasing, it would therefore be prudent to predict a rise in demand for care homes and care at home – the costs of which are similar to those residing in a care home.

If this is true, it would suggest one or two possibilities for the future: either there will be more people in need of care, vying for fewer and fewer places causing high demand which would then escalate prices. Another outcome would be more care homes being built/more domiciliary care providers to accommodate the increasing demand. This could at least limit price increases to the “normal” levels. Perhaps it may be worth noting here that SAGA predicts the cost of an “average” stay, in a care home, to double by 2028.

Leave a Reply

Your email address will not be published. Required fields are marked *