Care Advice For Elders
The What, Where, How and Why
of Later Life Care Planning.
In June 2015 there were:-
15 million over age 601
11.6 million people over age 651
1.5 million people over 851
Over half a million people over age 901
In the last decade the number of centenarians has risen by 65%. In 2015 there were over 14,5701
Due to improvements in diet, education and of course by the advances made in health care, life expectancy continues to increase.
It should however be borne in mind that for many, the quality of this extended life, is a different matter.
Looking ahead to 2025, it is estimated that there will be another 350,000 with high care needs. 2
Life Expectancy - If you’re healthy (in years)
In 2013-2015 a man in the UK age 65 had an average of 18.5 more years, a woman 20.91
At age 80, a man could expect to live a further 8.25 years and at 85, 5.823
A female age 80, it is 9.61 years and at 85, 6.83
However, more importantly, a woman age 65 in England in 2009-11 could have expected to live for only a further 11.2 years without a debilitating condition. For men it was only 10.5 years1.
For many these years of deteriorating health and advancing frailty may require medical intervention and/or care.
The Average Cost of Care Per Week
Domiciliary Care costs £15 per hour for just 2 hours per day, that is £210 per week 4
Residential Care costs £562 per week, Nursing Care costs £755 per week 5
Domiciliary/Nursing/Dementia Care costs £20 per hour for 6 hours per day, that is £840 per week 4
Residential/Nursing/Dementia Care range between £750-£1200 per week 6
Potential 5 year gross expenditure
Domiciliary Care - £ 60,732
Residential Care - £162,533
Nursing Care £218,350
Domiciliary Dementia Care £242,934 (6 hours per day)
Nursing/Dementia Care - £216,904- £347,049
The above assumes annual cost increases of 5.2% 7
Domiciliary, residential or nursing care will, for many, become a necessity in later life. It is likely that hard earned assets, built up over many years, can be quickly eroded in the last few years of life. The intention that assets ultimately be passed to beneficiaries, may no longer be possible where no appropriate advanced planning was effected.
Anecdotal evidence suggests that there is a significant risk that one of a couple both aged over 70, will at some stage during the rest of their lives, require Long Term Care (LTC). This may be domiciliary care in their home or residential, dementia or nursing care in a care home.
If your savings and assets (including your home) currently exceed £23,250 you are categorised as a "Self Funder" and will normally be liable for the full cost of your care. There are however circumstances whereby some assets, (including your home) can be disregarded.
Continuing Health Care
In 2015-16 almost 160,000 people received or were assessed as eligible for, CHC (Continuing Health Care) 8
NHS England estimates that at least 207,000 started the process for CHC funding in 2015-168
1 Office for National Statistics
2 The Lancet August 2017
3 Risk Prediction
4 Money Advice Service
5 Paying for Care
7 Daily Telegraph & The Guardian August 2016
8 National Audit Office