Partnership-owned website PayingForCare.org has launched a care cap calculator to work out how much people in care will personally have to pay before they reach the Dilnot cap.
The calculator, which is available to both advisers and consumers, works out how much people must pay before they reach the cap, how many years it will take for them to reach it and how much they will still have to pay once the cap is reached.
The Government published its Care Bill in May, which confirmed plans to cap care costs at £72,000 from April 2016. The cap will not cover “hotel costs” of accommodation or food.
The website asks for information about where a person lives, what type of care they require, what state benefits they are entitled to and whether people will use state entitlements towards their cost of care.
PayingForCare chairman Chris Horlick says: “We have developed this calculator which provides people with an indication of what they can expect to pay and for how long under the proposed care cap model.”
Forty Two Wealth Management partner Alan Dick says: “Care costs are a complex issue at the best of times, especially with incoming changes in the rules. Anything which can make the calculation of costs simpler has to be a good thing.”