Will we live long enough to have our care costs capped?

Average care fees paid by local authorities are £700 a week or £36,400 a year and the original Dilnot Report, on which the new proposals are based, suggested that around a third of this total is for board and lodging. That leaves £24,000 a year of “social care costs” which will count towards our care cap. This means it would take more than three and a half years of self funding before someone reaches the new spending cap.

According to the British Geriatrics Society, the average life expectancy in a UK residential care home is 24 months and 12 months for care homes with nursing.

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In 2020/21, local authorities spent £7.8 billion on long-term support for older people, of which £4.8 billion was on nursing or residential care, £2.9 billion on community support, including home care

Each local authority has an amount which they will pay for a given care need. This might be an hourly rate for home care or a weekly fee for residential care. Not all care providers will accept this r