Commenting on the government's proposed social care reforms, Owain Wright, head of long term care funding at Saga says: "We welcome Gordon Brown's decision to hold an in depth consultation looking at making care services fairer and more affordable. Action needs to be taken as soon as possible. Indeed our research shows that the future average cost of a 4 year stay in a care home is set to double from £112,312 to £223,476 in the next 20 years. Saga will be entering a submission into the consultation process. However, naturally any reforms will take time to implement. It is essential for people to seek professional financial advice as most people could protect an inheritance whilst still making funding provision for their long term care needs."
Long term care insurance: News update: May 2008