Changes to Residential Care Home Fees
The rise in savings limit allowed to people in residential care came into effect on Monday 10 th April 2017. Raising the limit of savings allowed to care home residents from £24,000 to £30,000, as the first part of the Welsh Government’s overall plan to raise the savings limit to £50,000, is expected to benefit many care home residents in Wales who currently have to fund their own care fees. Following the rise, care home residents will now be allowed to retain £30,000 of savings at which point they will no longer be responsible for paying their own care fees; however those with savings over £30,000 will still be responsible for funding their own care costs. Whilst the move is a step in the right direction for anyone who needs to move into full time residential care, a large amount of those requiring care will still be responsible for funding their own care fees. With this in mind, people are encouraged to seek professional advice as to what they can do in order to minimise the...