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Page last updated at 17:08 GMT, Friday, 25 May 2012 18:08 UK

Money Box Live: Paying for care

person in a wheelchair and helper
BBC Radio 4's Money Box Live
Wednesday, 30 May 2012 at 1502 BST On Radio 4 and Online

With the UK's ageing population, the annual cost of long-term care is expected to rise to £38 billion by 2025, according to research by the insurer, Liverpool Victoria.

That would amount to £33,000 per person, per year.

But who pays?

Currently, in England, if you have more than £23,250 in savings, including your home, you must pay the full cost of your own care.

A government-commissoned report last year recommended the assets' threshold should be raised to £100,000 and the total amount you pay in your life should be capped at £35,000.

This summer, the government is due to publish new plans for social care, including how it will be funded in the future.

In the meantime, what can you do now to plan for the future?

Who will pay for your care? The NHS, the council or you?

What are your options if your care costs more than your local authority is happy to fund?

Who qualifies for NHS-funded care?

Where can you seek advice?

Paul Lewis was joined by:

Jeanette Roberts, NHS Continuing Healthcare Specialist

Frances Auger, line manager, FirstStop Advice

Jean French, Head of Advice and Information, Carers UK

Dave Robinson, Partner, Albert Goodman Chartered Accountants and founder member of the Society of Later Life Advisers (SOLLA)

Presenter: Paul Lewis
Producer: Sally Abrahams




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SEE ALSO
External internet links
25 May 12 |  Moneybox
Age UK: Money management for the elderly
29 May 12 |  separator
Age UK: Care Homes Advice
29 May 12 |  separator


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