POLL: Are care homes affordable or becoming a perk of the elite?

The cost of living in a care home has seen a sharp increase with some older Britons forced to pay up to £8,000 a month,  a new report by LaingBuisson revealed.

The average fees for care and nursing homes have more than doubled in the past 20 years with the average residential care bill rising from £363 a week in 2002/03 to around £800 this year.

Some care home providers have reportedly hiked their rates by a further eight to 10 percent this month.

Lawyer Lisa Morgan, of Hugh James Solicitors, said it was “not unusual” for some clients to be paying £8,000 a month. 

She explained: “Clients are reporting they have received letters from care home providers that their rates are increasing further by eight to 10 percent this month. The cost-of-living crisis has greatly amplified the issue.”

READ MORE: ‘I had to move dad to a nursing home elsewhere as we can’t afford fee’

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A study earlier this year by UK Care Guide attributed the rising fees to increased staff, food and energy costs.

William Jackson, of UK Care Guide, said: “While it is not surprising that the cost of running a residential care home has increased, the real concern is the significant uplift in cost that residents and their families now face, as well as increases they face in the coming years and this won’t abate any time soon.”

He continued: “The majority of care homes we surveyed warned that they are likely to increase costs again this year so unfortunately, those that might need a care home in the next few years will almost certainly be paying more.

“Over the past year, we have seen an increase in people looking at live-in care as an alternative to residential care.”

In England, individuals with assets of less than £14,250 are eligible to have council-funded care, while those with assets between £14,250 and £23,250 can receive some help. Anyone with more must pay for their own care.

Government proposals to introduce a lifetime cap on care costs have been delayed until autumn 2025.

Speaking about the rising costs of care, Stephen Lowe, director of Just Group, said: “It’s a growing problem that will affect many thousands of the most vulnerable people each year, both those receiving care in their own home as well as residents of care homes.”

So what do YOU think? Are care homes still affordable for everyone or are they becoming a perk of the elite? Vote in our poll and leave your thoughts in the comment section below.