Who pays for Care Home fees?
In the UK, care home fees are typically paid by the resident or their family. However, if the resident has limited financial resources, they may be eligible for support from the local authority.
This support is based on a means test, which assesses the resident’s income, savings, and assets. It’s important to note that if a resident’s assets exceed a certain threshold, they may be required to cover the full cost of their care.
What financial support is available?
Several financial support options are available, depending on the resident’s circumstances. The local authority may contribute to care costs if the resident’s assets fall below a certain level.
Additionally, NHS Continuing Healthcare may cover the full cost of care for individuals with significant health needs. Attendance Allowance and other benefits can also help offset some of the costs associated with residential care.
Understanding these options and how to access them is crucial for managing care home fees effectively.
What happens when funds run out?
If a resident’s savings are depleted while in care, they may become eligible for local authority support.
It’s important to engage in early financial planning and consider all available options, including selling assets or setting up a deferred payment agreement, to ensure continuous care.
Speaking with a financial advisor who specializes in elder care can provide valuable guidance and peace of mind, helping you navigate this complex landscape.
Navigating the financial aspects of care can be complex, but you don’t have to do it alone.
At Heritage, we’re committed to helping families understand their options and plan for the future.
If you have any questions about financing care or want to explore the support available, don’t hesitate to contact a Heritage home near you.
Our team can provide the information and assistance you need to make informed decisions.
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Let's Talk Finance: Understanding Care Home Costs
Having the Conversation: Discussing Care Options with Loved Ones