Paying for Care

Paying for care

Too many people move into care homes without taking appropriate Financial Advice because they don’t know where to get it. When paying for care, seeking advice is easy and vitally important and will help you achieve real peace of mind.  A good advisor will help you consider your options but will not push you into doing something that is not right for you.

Running out of money – A big concern for many is losing the ability to pay for care, not normally an issue with charities but often is with other organisations. Understand before moving in!

Getting all your benefits – Attendance Allowance, Funded Nursing Care or other allowances can be a minefield if nobody explains them to you.

Financial advice – As part of the bigger picture they will support you with inheritance tax, capital gains and other investments.

Selling your home – Often the main source of care funding but there may be other options: renting, equity release etc.

12 week disregard – If you have a house to sell but no cash to pay for care the Local Authority will help you, but you need to know your rights.

Entitlements

Attendance Allowance – A non-means tested allowance of up to £85.60 per week. A long form to fill in but it is easy if somebody shows you how. You keep AA if you move to a care home.

Funded Nursing Care – A non-means tested contribution to the cost of a nursing home of £158.16 per week. A strict criteria applies; your Nursing Home will be able to advise, if you ask.

Continuing Health Care – A non-means tested method of paying for your nursing care, there is a very strict entitlement process applied. It is best to start the process when still in hospital, your ward sister or social worker should be able to advise you.

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