Worrying about fees and the ability to pay is never easy, but there are various funding combinations available from part to full local authority funded as well as solely private funded.
The capital threshold is usually a good indicator of how your care will be funded. The threshold figure of £23,250 will determine the level of support you can expect. If your capital is above this figure, you will be expected to pay for the full cost of your care.
Those with limited local authority contribution or zero contribution, may have to either sell or refinance assets. The majority of our private residents decide to downsize their home or on some occasions, sell the property. During this scenario, the local authority will disregard the value of your property for the first 12 weeks of your care (and pay for your costs on your behalf). The local authority will then reclaim the amount at a later stage, or place a second charge on your property – known as a deferred payment agreement.
If your capital is below this amount, we recommend contacting your local authority as you will qualify for funding. The next step will involve the local authority carrying out a care and financial assessment to establish the level of care required and the possible level of financial contribution offered. On occasion, the local authority may ask for a client contribution towards the cost of your care based on your income (based on your pensions, other sources of income etc). Dependent on the care home you select, some homes will also require an additional third party top up.
If you qualify for financial help, the local authority will make payments on your behalf directly to the care home – either full or part payment. If you disagree with the outcome of the assessment, or you feel your care needs have changed, you can ask for a reassessment at any time.
We are always here to help as well, so please just call us for any advice or help.