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National newspaper social care campaign

ended 10. February 2023

The Daily Express is about to launch a campaign highlighting all the issues surrounding the (social) care sector, including the cost of care, how people cover (or save for) it, and whether people know that the state often does not pay for care until people have exhausted all their assets. Their social affaird editor is looking for anecdotes and quotes from the front line (e.g. IFAs, lawyers and protection/equity release experts). If this is an area you cover, please respond to the following Qs:

  • How do people, in your experience, cover social care costs? Do most people get the support they need?
  • The journalist says many people needing care are increasingly hiring lawyers to deal with the local authorities on their behalf as there is too much red tape. Is this something you've seen?
  • Do you find people put money aside for care in the future, if they need to go to a home, for example? Or do they tend to rely on their property/pension as an asset (at the expense of their children's inheritance)?
  • Are people aware of what the state requires before it steps in and supports people when it comes to (social) care? 
  • With people living longer, and many not having the means to pay for the care they need, are we facing a social care crisis (or perhaps we're already in one)?
  • Apparently, NHS Continuing Healthcare will cover certain types of care, e.g. cancer treatment, but not others, e.g. dementia. Have you had any experience of this?

As ever, if you have any case studies, let us know.

2 responses from the Newspage community

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Editor
Scott Gallacher
Director at Rowley Turton
As a long-term care qualified financial adviser, I have used long-term annuities to help clients generate tax-free income to fund their care fees. These annuities also help people preserve the balance of their estate for their loved ones. Unfortunately, whilst councils are generally very helpful to those needing care, they don't seem to direct them to specialist financial advisers at the outset. Consequently, we receive too many calls when mum or dad has almost exhausted their money, and it's often too late for us to help them. I've got a close family member with advanced dementia, but NHS Continuing Healthcare was refused. We did consult with specialist independent social workers and solicitors, but they advised that NHS Continuing Healthcare was almost impossible to claim for dementia.
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Luke Thompson
Director at PAB Wealth Management
As a financial adviser it can be very difficult to get my customers to plan for their future care costs. It is never at the top of client's list to sort but it is potentially one of the most important financial planning areas to get right. Many people are concerned about the impact of the cost of care on their estate but may not be willing to set aside funds to ensure that the cost of care can be met in the future. As with any kind of financial planning, the earlier you start, the cheaper it can be to protect yourself in the event of you needing long-term care.