It can be a difficult decision to move to a care home. And this decision can cause a lot of anxiety for the person who has to move and also for their family and friends. There are lots of things to consider before moving to a home and in the majority of cases the decision will have to be made quickly as a person may be being discharged from hospital.
The cost of the home is the most frequent thought on most people’s minds. And the actual cost will usually be different in just about every case. Many factors will be taken into consideration such as the type of care you need and if you have any savings or capital investments.
The full costs for your stay in a care home may be met by many sources. In some cases you might have to pay for the care yourself, in some cases the local council may pay for your care and in some cases the NHS may pay for your care. A combination of these three may also be possible.
A person themselves may have to pay some or all the costs to live in a care home, but this is usually based on a person’s finances. If you need nursing care, additional premiums may have to be paid to meet the cost of your care. And, if you are assessed to need continuing care, the NHS may pay towards the cost.
The process of working out how much you will get towards the fees can depend somewhat on what savings and capital you have. The assessment figures are different depending whether you live in England, Wales, Scotland or Northern Ireland. But, for example, in England you won’t have to contribute from your savings and capital if the total figure is less than 14,000.
Your home value will be included in your asset total, but there are certain rules and caveats pertaining to who lives in your home and who owns your home. This needs looking at further if this pertains to you. You might even be able to defer selling your home until you are ready to do so.