Pensioners’ homes should be used to fund social care the head of the NHS said.
Simon Stevens the head of the NHS, said the “accumulated housing wealth” held by older generations should be used to pay for their care,
Mr Stevens said on Tuesday afternoon the assets of the elderly - including their homes - should be used to fund their care, backing schemes which allow councils to reclaim care costs from the sale of pensioners’ property.
Mr Stevens comments came during an inquiry by the Commons’ Housing, Communities and Local Government and Health and Social Care committees, into long-term funding of adult social care.
The comments come amid argument about whether any future funding increases for the NHS should come via an ear-marked tax.
Mr Stevens signalled some enthusiasm for such a course of action, saying it was important to “connect for the public the money they are paying with the service they're getting”. Also stating that allowing pensioners to keep the value of their homes would be “a difficult argument to win,” he said.
With a growing number of people requiring social care, it will become increasingly the case that families owning their home will end up losing tens of thousands of that wealth in care fees. Already 1 in 3 elderly people do go into Care Homes.
The first action families should take is to take advice early and plan for something that is increasingly becoming inevitable. Do you have elderly parents that you were counting on getting an inheritance from?
Assets held in Trust are normally disregarded for care purposes provided that the Trust has been set up correctly and the assets ‘ring-fenced’ at the right time. If the people were fit and healthy when setting up the Trust and could not have foreseen the need for care then the local Authority cannot make the assumption that your motive in setting up a Lifetime Trust was to avoid care home fees.
Also ask about details of the £3,000 money back insurance offered if you are accepted onto a Lifetime Trust.
If you would like more information and to see if you qualify for such a Trust, just call us on 02380 070 169 or email us on [email protected] with a contact number to call you back.