Social care reform: National Insurance increase and the funding caps under Boris Johnson’s new plans explained

The new system of funding social care relies on both a cap on overall care spending, and a “floor” on assets which stops anyone who needs care from running their savings down too far.

The system will kick in from October 2023. From that point onwards, no one will have to pay more than £86,000 for care over their lifetime, including social care for vulnerable younger adults and for elderly people.

Read the full article on this link to The i

 

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