Local Assembly Member Lee Waters has welcomed the announcement that residents in Welsh care homes will be able to keep more of their savings as the threshold for support with care fees is increased. The move delivers on Welsh Labour’s manifesto commitment two years early. The Welsh Government has announced that the limit on the amount a person can hold in savings before qualifying for financial support in residential care will be raised from £40,000 to £50,000. This will allow people in Llanelli and across Wales to keep a further £10,000 of their savings when entering care.
Local Assembly Member Lee Waters said, “This step shows what Welsh Labour in Government can achieve. This commitment by the Welsh Government to raise the limit for financial support in residential care for the third time is a huge step in allowing more people in care to keep more of their money. I know it will help people in Llanelli, and provide peace of mind to families across Wales. I’m proud to demonstrate the Welsh Government’s determination to support those living in care and their families and carers.”
“Despite increasing pressures on health and social care budgets, this announcement symbolises how advanced Wales is compared to other areas of the UK in delivering good public services for its people and ensuring equal access to quality care”.
The capital limit establishes whether a person receives financial support from their local authority or is expected to pay out of their own pocket, based on individual savings and assets.
Since April 2017, 1,500 Welsh care home residents have benefitted from the two increases to the capital limit; a number that is set to rise with the most recent announcement. Wales is ahead in this field, with the government implementing the highest capital limit for residential care in the UK.
To help local authorities such as Carmarthenshire County Council to adapt to the changes, £7m of additional funding has been allocated to local authorities through the local government settlement.
The new capital limit came into force on 8th April.
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