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.
Approximately 5.5 billion pounds of benefits goes unclaimed by older people each year.
If you find you need to self fund, or if you have a low retirement income, claiming the benefits you are entitled to could make the world of difference to your circumstances.
This is a tax free, income related benefit and comes in 2 parts:
- Guarantee Credit tops up your weekly income to a guaranteed minimum level of £148.35 (for single people) or £226.50 (for couples).
- Savings Credit is an extra payment if you’ve got some savings or your income is higher than the basic State Pension.
You may be eligible for either one or both. Due to the recent changes in legislation, if you reach State Pension age on or after 6 April 2016, you may not be eligible for Savings Credit.
Even if you are only entitled to a very small amount of Pension Credit, it is worth taking as having this benefit will open the door to other benefits such as Housing Benefit and Council Tax Reduction.
Once an assessment has been undertaken, a care plan will be provided. This doesn’t necessarily mean that a person has to go into a residential or nursing home permanently. Often providing domiciliary care is preferable for the individual as they remain in their own surroundings and retain a level of independence.
Respite care can aso be provided where an individual has a short stay in a home to provide respite for either the individual or their carer.
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.