If we receive the blessing of a long life we may eventually need a little assistance to help us along. Perhaps we no longer ought to drive a car and need a little help with shopping, or we are unable to bend down easily and need help with daily tasks. It could even happen that we develop a need for more intensive Long Term Care.

What is Long Term Care? It’s assistance for people who need help with regular activities on an open-ended basis. It can be provided by a carer who visits them at home, at a community centre, or in a care home. There is inevitably a cost attached. Sometimes a local authority may pay for it subject to a means test, otherwise the recipient must pay for it themselves, which is why it’s important to make financial provision while you can.

What Does It Cost? Many people in the UK are unaware of long Term Care costs. A quarter of the population may spend little on it, while the next half may need to pay £20,000. The top 10%, however, could find themselves facing a bill of £100,000 or more. This is why it’s better to remain in your own home for as long as possible before going into care.

Could I Qualify for Long Term Care Support? Your local authority determines whether an individual qualifies for support.

• If your assets are valued at less than £14,250, you qualify for full funding by your local authority.
• If your assets (including your home) are valued between £14,250 and £23,250 you should be eligible to receive support.
• If your assets are valued at more than £23,250 you must fund care yourself. This is why one so often hears of elderly people having to sell their houses to pay for their long term care.

Could Things Get Better? The suggestion that the elderly pay no more than £35,000 in total for care is under consideration. At the moment, this remains little more than a hope for many of our older citizens.

How Can I Plan for Long Term Care Costs? If you are reading this and still have time to set aside provision for the future, then you really should start planning seriously for your elderly care needs. Your best options could include equity-release plans and insurance policies. You’ll find independent advice in the caring industry itself from sites like Paying for Care, which provides a wealth of information about elderly and long term care.