Self Funding Care
Help self funders understand their self funding care options; understand care funding jargon and help to guide your self funding care actions.
In 2012 a small group of healthcare staff sent a tweet ‘just one’ because they wanted to do something better for their patients. It started what is now known as
Last year, more than 189,000 people made their own personal pledge to do something different, in their own little way to improve the care of their patients .
So far this year the total is already 280,000.
AgeUK estimates that “more than £5 billion of means-tested benefits go unclaimed by older people every year”, the main reason is believed to be because people don’t know that they are eligible for anything. With the ageing population, the number of people requiring care has increased substantially, but with it has seen a rise in people who choose to remain in their own home, with family members – often the spouse – taking care of them, and often giving up work so that they can do so.
Older men are more likely to be carers for their partners or family and can find themselves feeling like they are not being listened too. They can be ignored by GPs, leaving them feeling isolated and unwilling to ask for help.
This is not that unusual, given the fact that conventional ideas of men acting as carers is not seen as the norm. It is important to to take this into account, because it is at the centre of a larger issue of who will be taking on the carers roles as the UK society gets older, combined with the impact on local health services if fewer people come forward wanting to take up the role or feel that they are capable of doing it.
The NHS offers several care packages that are available to anyone who qualifies for them. They are designed to finance people who need extra help due to an ongoing illness that requires extra attention.
NHS Continuing Healthcare
NHS Continuing Healthcare is a care package that is aimed at helping people who have been in hospital, and continue to need care once they have left. It doesn’t matter if the person chooses to move to a care home or remain in their home, they will still be entitled to help.
To qualify, the person will need to be assessed and determine that they have what is considered to have a medical condition that they are likely to need extensive care with in the long term. Nevertheless, not all long-term ailments will qualify for assistance.
There are serious failings in the way mental health services are being commissioned and run, it is damaging the care of patients detained under the Mental Health Act 1983 which was undermining their human rights, says a report by the regulator Care Quality Commission has found.
There are a record number of people which are being detained for mental health treatment, prompting concerns that conditions for patients have been steadily worsening due to understaffing issues and a lack of hospital beds.
There were 50,408 cases of people being detained for mandatory treatment under the Mental Health Act in England during 2012-13, this equates to a 12 per cent rise over the previous five years.
A Self Funder is usually someone who has assets of over £23,250 in the form of savings, premium bonds, property, business’ etc. As a result, they take full responsibility for the full payment of their own care home costs, whether they receive care in their own home, in a residential home or in a nursing home.
Most self funders are in long term care, and will probably remain in care for the rest of their life.
Income protection (IP) has the scope for a money-back guarantee so that the premium is returned to the consumer in the event that it does not match the expected payout amount.
Theresa Fritz, an independent consultant and member of the Financial Services Consumer Panel who previously held roles in Which? and Moneyvista, made these comments during a Q&A session in response to Nick Kirwan and Alan Tyler’s speech on welfare benefits.
Income protection insurance is taken into account and seen as a source of income and could affect the level of state means tested benefits a person off work through sickness, disability or injury, is entitled to.
Care Home fees in the UK will vary depending on a variety of factors, such as: location, size and type of care home.
The services that they offer will also impact on how much they cost.
As a rule of thumb, a Nursing Home will probably have higher fees than a Residential Home as residents in Nursing Homes require more help than those living in a Residential Home.