Long Term Care

There are many thousands of elderly people requiring residential care of some kind and the number is set to increase considerably.

The average price of a place in a care home is £500 a week and a home which gives nursing care can cost more than £800 a week. Under current rules, anyone with a home or savings of £23,500 or more is not usually given state funding for care home accommodation or personal care in a care home. We provide advice on possible ways to fund the cost of the care you have chosen.

In the first instance, we recommend that you contact your local authority to get a health and social care assessment. This will tell you what care you will be entitled to. All councils have to use government guidance to work out whether a person is eligible for services. The guidance is “Fair Access to Care Services” (FACS) and is to ensure that services go to people who are most in need using eligibility criteria. The Department of Health defines social care as “the wide range of services designed to support people to maintain their independence, enable them to play a fuller part in society, protect them in vulnerable situations and manage complex relationships.” The system for deciding where the line is drawn between free NHS continuing care and paid-for social care has been hazy for many years.

There are also several State benefits which may be available, including disability living allowance, carer's allowance, attendance allowance and pension credit.

Once this is known, all options for funding, such as savings, investments, family loans and the equity in the home can then be discussed. There are also specialist long-term care plans which, in return for a one-off lump sum payment, pay a guaranteed income for as long as the policyholder lives. All will have advantages and disadvantages which we will be happy to run through with you and, if you wish, your family.

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