If you, or someone you know is considering going into a Residential Nursing or Care Home, you/they need to be aware of the Financial Cost implications, where assets are available to that person.
If funding is required from the Government, then a Financial assesment will need to be made by the relevant authority.
The following quotes, with links to the original sites, may be of some assistance, in providing a general idea on this.
How funding for Care Homes is worked out.
If your savings and property are less than £13.500, then the full cost of your care will be met by social services.
If your savings are between £13.500 and £22.250 inuding your property, some of the costs for the care home will have to be met by you,
If your total savings including your property exceed £22.250 then you will have to pay the full cost of your fees.
If you own your own home.
The value of your home will not be taken into account for the first 12 weeks of your stay in a care home, giving you time to decide what is to done with your property.
Be aware that if you give your home over to your family or rent it out, you could still be liable to pay towards your care. This is a complex issue, and advice would best be sought. The assessment valuing your property only applies to funding for care homes,and not for care in your own home if you stay there.
The above information was correct in April 2008 but can change each year.
and from a solicitors viewpoint:
If you need ongoing care in relation to complex physical or mental health needs, your care fees may be paid by the NHS. This is known as NHS continuing healthcare.
Unfortunately, Primary Care Trusts often make arbitrary NHS care funding decisions. As a result, you may not receive NHS care funding in a residential care home, nursing home or in your own home, even if you are eligible.
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