The sum is almost double the £72,000 figure the cap will be set at when it comes into force in 2016 and could increase to around £250,000 if an individual is in long-term care for 10 years.
This is because the cap only covers the cost of care set at local authority prices and does not include daily living costs such as food and accommodation.
A person entering a home in London aged 85 is expected to reach the cap in around four years and pay around £117,000 whereas a person in the Midlands would face costs of around £170,000 but take seven years to hit the cap. ......
[via - cityam.com]