Whether you’re self-funding care home costs or accessing available benefits, this guide explains the options available to you.
Care home costs will naturally vary depending on the individual care home and the level of care required. Care home fees can even change according to where in the country the care home is. This is why it’s important to look at the care provision as a whole and decide if the fees reflect the service. Care homes offering more comfort and a greater staff ratio may cost more, but may also provide a better quality of life for residents.
Different types of care will also incur different costs; for example, care home costs for those solely needing residential care may be less than for those accessing dementia care services. Therefore, assess all elements, including the care home costs and the services expected and included in those costs. Visit each care home so you know exactly what you’re getting for your fee.
There is no single set price of care homes and there are many factors that will be taken into account when care homes set their care home fees. These include:
Paying For Your Own Care Home Costs
You will need to self fund any care home costs if you have capital worth over £23,500. Capital includes savings and any other assets, such as your house. Your house is not eligible to be included as capital if your partner, a relative who is over 60, a relative who is incapacitated, or a child under 16 who you or a partner have legal responsibility for still lives there.
If you’re paying for your own care home costs, forward planning and seeking advice on the options available to you will help you make your money go further. Care home funding information can be obtained from charities, such as Age UK, or an independent financial advisor who specialises in long-term care funding.
Even if you are self-funding your care home fees, it’s important to have an assessment of your care needs from your local social services department, as you may miss out on financial support, such as Attendance Allowance and Pension Credit.
Help With Care Home Costs
If your assets are between £14,250 and £23,250, then you may need to self fund some of the care home fees, with the remainder being eligible for some types of funding. If your capital falls below the £23,500 threshold, there are some care home funding options available.
The only element of care that is free of charge to everyone is nursing care. Your nursing requirements will be determined by an independent nurse who will carry out a comprehensive assessment prior to you moving to a care home or during your stay, should your needs increase.
If you’re aged over 65 and need someone to help care for you, you may be eligible for Attendance Allowance, a non-means tested, non-taxable benefit from the Department of Work and Pensions, or for Pension Credit.
Attendance Allowance is currently £68.10* a week for those needing care by day or night, and £101.75* a week for those needing care both during the day and night (*August 2023).
NHS Continuing Healthcare
NHS Continuing Healthcare is a care home funding package arranged and paid for by the NHS. It is non-means-tested and to be eligible, your primary needs must relate to your health and meet the criteria set out by the NHS National Framework. A healthcare team will assess your eligibility and decide if you’re able to receive any help towards the cost of your care home fees.
NHS Funded Nursing Care
NHS-funded nursing care is another NHS care home funding option. This package covers the cost of nursing care only. Accommodation and personal care is paid for separately.
If you require nursing care, you may be able to get help towards your nursing home cost with NHS-funded nursing care. This is non-means tested and is paid directly to the home by the Clinical Commissioning Group (CCG). The current rate is £209.19* a week (*August 2023).
Third Party Payments
Depending on the amount of care home funding you receive, there may be a shortfall and, if this is the case, you’ll have to ask a family member or friend to make up the difference in any care home costs. This is known as a ‘third-party payment’ or ‘top-up’.
If you are thinking about becoming a third-party payee for a family member, it may be wise to seek professional advice first. Care home fees can be subject to change, while council funding may not increase in line with this. Therefore, you could end up paying more care home costs than originally planned, so be sure to consider this option carefully before making a commitment.
New Care Homes
If you’re interested in New Care Homes, we’d be happy to talk you through the care home costs you can expect and offer any additional advice on funding or benefits that you may be eligible for. Please contact us with any questions you may have, or arrange a visit to one of your local care homes to see the standard of care we offer across Cheshire, Manchester, Leeds, or Nottingham.