It can be a real overwhelming process to work out towards paying for
care home. It also depends upon where the individual or relative
resides in UK, causing care cost to vary outside free NHS provision.
A report published sometime back stated long term care home fees to
be paid by individuals during their lifetime, being capped around
£35,000. Presently, fees paid by the individual are unlimited. The
above limit set by government can be increased in near future, in case,
free NHS provision continues to suffer.
Knowing the details
The fee for heating, lighting and food stands at £7,000 - £10,000 /
annum with respect to care fees. The report also states adding this
charge to the capped limit of £35,000. As individuals are required to
pay for it, the report states it is quite fair for the additional
charges to be included, irrespective of the fact, with the individual
receiving care from a care home or own home.
Presently, means tested threshold prior to paying full care cost is
£23,250. But the report suggests increase of about £100,000 prior to
the individual being liable towards social care’s full cost, with
lifetime £35,000 being added later.
Moreover, a criterion in the form of national eligibility is
suggested for ensuring better regularity. Hence, if the individual
moves to the other local authority, no further assessment is required.
If the person is short on information with regards to paying for care
home, then following are the keypoints to be considered.
- Advice: A reputed company is to be found for providing long term care home advice.
- Care types: Two long term care home options are prevalent, which is Caring Home and Home Care.
- Fees: It can vary depending upon care option, with Home care being affordable option.
- Financial support: Depending upon assets and savings, the person can take support from local authorities.
- Power of Attorney: Friends and family can act on the individual’s behalf through legal arrangement known as Power of Attorney.
- Online tools: Several online tools exist for making payment to care like live chat with financial adviser, FAQs, videos, care calculator cost .
- Financial advice: Contacting qualified Financial Adviser can help to know on care fees as well as paying before committing.
- Means testing: State would offer maximum fund for people qualifying means test.
- Annuities: Numerous financial companies exist that offer annuities to help with care cost.
Knowing all the above with regards to care home fees advice can help the individual to take a wise decision.
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