"Free" Care Homes?

"Free" Care Homes? It's More Complicated Than You Think!

You might be surprised to learn that some people, even those with significant assets, can actually live in a care home for free – thanks to the NHS.

How does it work?

Let's break it down.

• Paying Your Way: Many people choose to pay privately for care. Costs vary wildly, starting from around £950 to well over £1,300 a week depending on the location and the level of care; meaning residential or nursing providers.

  
  

• When the NHS Steps In (Sometimes): If your assets are below £23,250, your local authority usually contributes. However, your income (pensions, investments) will also be taken into account. It can get confusing fast!

• Enter: Continuing Healthcare

This is where things get interesting. If your health needs are complex enough, the NHS might cover the entire cost of your care, regardless of your income or assets.

• How Do You Qualify?

  • It's a complex assessment, looking at things like your mental and physical health, and how well you can communicate.

  • You need to meet certain criteria based on the severity of your needs.

• The Catch:

  • The rules can vary significantly between different parts of the country.

  • Some areas are more generous than others, and getting funding approved can be a real battle.

  • Professor Clements from Cardiff Law School highlights this, saying, "Families are facing a stressful and often unfair process to get funding that should be covered by the NHS."

The Good News:

Despite the challenges, around 20% of people in care homes receive NHS funding.

The Bottom Line:

If you or a loved one needs care, it's crucial to understand the funding options. Don't hesitate to seek advice from professionals and explore all available avenues.

This is a simplified overview. The rules and regulations surrounding care home funding are complex and the figures used are an approximation from a selection of homes in the UK

Important Note:

Navigating the complexities of care home funding can be challenging. We strongly recommend seeking advice from a qualified financial adviser who is a member of the Society of Later Life Advisers (SOLLA).

Why SOLLA?

SOLLA advisers specialise in providing financial guidance to older people and their families. They can help you:

• Understand your financial situation: Assess your income, savings, and assets.

• Explore funding options: Evaluate your eligibility for Continuing Healthcare, local authority funding, and other financial assistance programmes.

• Develop a financial plan: Create a budget that accounts for care home costs and other expenses.

• Minimise your care costs: Explore strategies for reducing your care home expenses, such as maximising tax benefits and exploring alternative funding sources.

Disclaimer: This article is for informational purposes only and should not be considered financial advice. We encourage you to consult with a qualified financial adviser for personalised guidance on your specific circumstances.   

By consulting with a SOLLA adviser, you can gain valuable insights and make informed decisions about your care options and financial planning.