This weekend we were asking ourselves; What is next for social care funding?
Ahead of the budget being announced this week, we were doing some research of our own into the social care market. We came across ‘A fork in the road: next steps for social care funding reform’ (May 2018) https://www.kingsfund.org.uk/sites/default/files/2018-05/A-fork-in-the-road-next-steps-for-social-care-funding-reform-May-2018.pdf
This informative and accessible paper from The Health Foundation and The King’s Fund looks at the costs of social care funding options, public attitudes to them and the implications for policy reform.
As dry as this sounds (!) we can assure you it is an interesting and easy (if slightly anxiety provoking) read. We recommend this paper for everyone; regardless of whether you know very little about the social care sector, have recently had some involvement supporting a family member to get support, or you are a professional working in it every day.
The paper gets right to the point reminding us that there have been concerns about how social care is funded for over 20 years, particularly in relation to the sustainability given the ageing population. The report finds that demand for social care is projected to rise by around £12 billion by 2030/31 which is an average growth rate of 3.7% per year. Growth in spending on social care is predicted to be 2.1% per year, causing a funding gap of £1.5 billion in 2020/21 and £6 billion by 2030/31. This is just to maintain the levels of 2015/16.
With this in mind the £700million being set aside for councils announced in the budget today, is put into stark perspective. As put by Richard Murray (Director of policy at The King’s Fund) today “The social care system can’t continue to get by on last-minute, piecemeal funding (sic). We need a long term plan to fund and structure social care to meet increasing demand”.
We want Eleos Care Consultants to be a part of changing the way that social care is viewed in society. Our service offers an alternative to the status quo and in turn reduces pressure on the local authorities and councilsand the public purse.
The paper goes on to inform us of the current system with regards to funding of social care provision. Reiterating that public funding is only provided to those with the greatest need and lowest means. You will not qualify for public funding until assets are below £23,250 and will not receive full funding until your assets are below £14,250. Were you aware of this? If this applies to you, for a fixed up front cost, we can offer an assessment of need that is led by you and takes the stress out of trying to organise or negotiate the social care sector yourself.
The report found that the “lack of knowledge around social care is more pronounced when it comes to how social care is currently funded, coupled with a perceived lack of information available to people who want to start planning for future needs”. Having worked in the social care sector for a number of years, we are aware of this from the everyday conversations we have with our clients and their families and even our colleagues and professionals. The social care world is not the transparent and accessible sphere it sets out to be. We have designed Eleos Care Consultants with exactly this in mind. We know the type of service you need based on what is lacking in current service provision. We can give generic free information and advice over the phone and if a more personalised and detailed assessment of need is required, we can provide this for a reasonable cost.
As part of the holistic assessment service we offer, we will look at all aspects of your life and any support you might need to keep the way of life you are used to as well as plan for when things might change in the future. We have links with financial planners, care providers, solicitors, OT’s; all of whom can help to take the stress out of planning for your future.
What are your thoughts on the Budget 2018 and funding for social care? Have you started planning for your future social care needs? Let us know by responding to our post on here or find us on social media and get involved in the discussion! –
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Gemma and Ashton (Co-founders of Eleos Care)