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.
Choosing a care home, and understanding your funding options are just two of the dilemmas that face a lot of people who are looking to move a loved one into a care home. But the problem that many face is knowing where to go to get care home advice that is impartial and helpful.
There are actually several routes you could go down to find advice:
1. The Internet
The Internet is a huge pool of knowledge, and it can be a great place to find care home advice from councils, charities, support groups etc. But, one of the most useful aspects of sourcing the internet, is that you can find a great deal of information from people with actual experience. They aren’t people who want your money, or have something to gain from you listening to them. Instead, they are people who want to share their personal experiences – not just the good, but also the bad too.
However, it is important to remember that not everyone has your best interests at heart, so you should always be wary of websites that are only looking to make money out of you.
If your local Trust tells you that your parent will need to self fund their care, there are still plenty of care options that they may be entitled to.
The first thing you should do is check to see if there are any state benefits that your Mum or Dad may be entitled to. Millions of pounds of benefits go unclaimed because people do not know that they are entitled to them, so make sure that they are not missing out on anything.
Some benefits that they may qualify for include: Read More
Attendance Allowance is designed to help people, financially, who are:
- At least 65 years old
- Need extra help with their personal needs
Those who qualify are entitled to £53 each week, if they need care assistance only during the day, or only during the night. If they need assistance during both the day and the night, they are entitled to £79.15 per week.
If you qualify for Attendance Allowance and then need to move into a care home, you may still receive the funding, dependent on your financial status.
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.
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.
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.
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.
Choosing a nursing care home can be a lengthy task, because you will probably be looking for a care home that suits the needs of both your parent, and yourself as well as anyone visiting them.
However, making sure that you make the right choice is crucial, because moving a loved one can be a stressful task both emotionally and financially.
Making the Right Decision
The first step is to always ensure that you are working with your loved one, or at least with their best interests at the forefront of everything else. They should be your main priority, even if it means choosing a place that is a little further for you to travel.