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.

Self Funding Care: What’s a Self Funder?

January 27, 2014 in Self funding care FAQs 0 Comments

assessment of capitalA 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.

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What Does it Mean to be Self Funded?

October 30, 2013 in Self funding care FAQs 0 Comments

care-homesIf you are “self funded” then you are responsible for paying for all expenses, relating to your personal care needs. You may be able to receive some assistance with costs, however, it may be likely that you will be expected to pay some of it back, either when you sell any property, or as a part of your estate.

If you are self funded you will be expected to pay for Care Home costs, including rent, meals etc, or in-house care, for example the costs for care assistants to visit you in your home.

You will need to pay the bills directly to the home, or service provider.
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Self Funding Care: Guide to Probate

October 23, 2013 in Self funding care FAQs 0 Comments

helpProbate is a legal process that is used upon someone’s death, to determine whether their will is correct.

Anyone who has been named as an executor of the will will need to apply for a document known as a “grant of probate” that will entitle them to sort out all the details relating to the deceased’s estate.

Sorting out the estate and affairs of someone who has died is never a quick process, as everything needs to be organised, including:

  • Any property that they owned, including businesses and rental properties
  • Financial assets, including money in bank accounts, savings (such as ISAs and premium bonds)
  • Possessions, such as vehicles, jewellery etc.

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Self Funding Care: How does Nursing Care Work?

July 31, 2013 in Self Funders, Self funding care FAQs, Self funding nursing care 0 Comments

HelpMany people confuse nursing care with residential care, and that’s understandable because they are very similar.

However, it is important to distinguish between the two so as to help you to understand how nursing care works.

Residential care is when you move into a care home, and are looked after by trained care workers.

This is the ideal option for you if you struggle to do things by yourself, but do not have any serious illnesses or disabilities.

Nursing care, on the other hand, is essentially the same as a care home, however the care home will be registered as a nursing home, and instead of care assistants, you will be looked after by fully qualified nursing staff.

Nursing care is typically recommended for anyone whose health has deteriorated and would benefit from round the clock medical care.  Nursing care is not exclusive to later life, but anyone with a serious illness or health problem may be referred to nursing care.

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What are Self Funders?

July 17, 2013 in Self Funders, Self funding care at home, Self funding care FAQs, Self funding nursing care, Self funding residential care 0 Comments

what is NHS registered nursing care contribution?Paying for your care in later life can be unnecessarily confusing and stressful, so it helps if you have an idea about where you might stand financially to determine whether you will have your costs paid for, or whether you will be officially classed as a Self Funder.  However, what are Self Funders?

Self Funders are people who are deemed, by the government, as having sufficient amounts of assets to be able to pay for their own care, in later life.

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What Does Self Funded Mean?

July 10, 2013 in Self Funders, Self funding care at home, Self funding care FAQs, Self funding nursing care, Self funding residential care 0 Comments

Self Funded

Self funded is a term that is thrown around a lot, especially when it comes to later life solutions.  In really basic terms, when it comes to paying for your later life care needs, you will either be funded or self-funded.

Funded means that your costs are paid for by the government, whilst self funded means that you have to pay for your care out of any assets that you might have, including any money and property that you own.

To be considered as “self funded”, you will ordinarily have assets of at least £23,250.  But the real criteria is that you are considered to have enough weekly income to cover all of your care costs.

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What are Self Funders?

July 3, 2013 in Self Funders, Self funding care at home, Self funding care FAQs, Self funding nursing care, Self funding residential care 0 Comments

geneSelf funders are individuals who are deemed capable of paying for their own care needs.  This could be care in their own home, or care in a residential or nursing home.

Someone is normally considered able to pay for themselves if they have assets over £23,250.  This could include savings, pensions and any other money that might be paid to them, such as rent payments.

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What is Self Funded?

June 20, 2013 in Self Funders, Self funding care FAQs 0 Comments

do I have to self fund my nursing care?In later life when doing the daily routine becomes a real chore, there are several options that you might choose to help make life a little bit easier. You might choose to remain in your family home whilst receiving regular visits from a Care Worker who will assist you in doing the things that you aren’t able to any more – things like cooking or getting out of bed in the morning. Another option is to move into a home where you will be taken care of on a 24-hour basis. These two are the most popular alternatives to later life living, however what does it mean if you are told you your needs will be self funded?
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