Assessing your ability to pay for Long Term Care

There are so many tips and procedures that are needed to ensure that you find the perfect long term care provider for your elderly mum or dad. There is usually much confusion and stress that comes with making the decision as to whether care at home will be the best option for you or not however; the good news is that there are long term care advisers you can contact to advice you as to what will work best.

Every good long term care adviser will make sure you understand the cost that involves hiring a home care provider. Also, before you can find a long term care adviser it will be best if you use the internet more for your search. Being able to pay for care in your home can be quite stressful especially now that the economy is quite unstable however; if you have a long term care insurance plan, there is a lot less for your worry about financially.

There are so many people that do not know how home care payment are made and also whether they can plan ahead for it. A registered care provider is the best way of ensuring that you or your mum and dad are safe. However; there are stages by which these care providers are assessed by the Care Quality Commission. Care providers would be fully trained in all aspects of the care they will administer such as medications and handling. (more...)

The Provision of Elderly Care

For elderly people, life can be very frustrating as aging gets worse especially because they feel they are not in control of their lives anymore. Yes, this scares them and also may make them feel they are a burden which is why it is important as a loved one to make sure they get all the love and support they need no matter what your decision with regards to home care will be.

Care plans for the elderly has always come with many concerns over the years as unsurprisingly, the charges keeps on going higher. However; whether you decide on residential home care or care home with nursing; you must make sure only the very best attention and care is given. Also, making sure you are aware of the positives and negatives that come with each of these options will go a long way to ensuring that you are well informed before any decision is taken. There are so many ways by which good long term care for the elderly can be provided but it begins with you and how far you are willing to help your parents, grandparents or other friends or relatives.

Another area that comes with much concern has to do with finances and paying for the selected home care option you decide on. There are so many people that plan ahead by having in place the very best insurance policy to ensure that elderly care for them during their old age is not a difficult issue with regards to finance. However; for those that do not; pensions are always turned to especially if the family is not well off. Having an elderly care plan insurance can go a long way to ensuring that your children or family suffers less which will also make you more independent. (more...)

Where can Carers Turn for Help in Providing Care for an Elderly Relative?

Elderly care is quickly rising in society as something that we all need to care about. As people in the UK live longer, this means that elderly care is something that will remain a fixture in how society lives. One of the biggest trends in elderly care are the people who act as carers whether it is formally or informally.

Long term elderly care is something that continues to grow. Sometimes it can include support for diseases such as dementia or it can also be residential in that the clients live on site. If you are a carer (formally or informally), there are plenty of resources available to you to ensure that you thrive in your role as a carer. Some of these resources include:

NHS: The NHS can help with advice on how elderly care should be done if you are doing it informally. Take a look at the NHS resources and read publications and research on the trends that are happening in medical care for elderly people. (more...)

Ways of Managing the Financial Affairs of a Parent in Long Term Care

There are various ways in which you can manage the financial affairs of an elderly parent or relative but which option will be best is largely down to the individual’s situation.

    For example:-
  • Government agencies such as the inland revenue or welfare benefits departments will allow you to appoint an agent to act on your behalf.
  • The aformentioned option will only be available however if the elderly parent or relative is of sound mind and retains their mental capacity wholely.
  • A letter of authority or signed mandate could be sufficient for you to manage a bank account or building society on their behalf if they are immobile and cannot get out and about to pay bills or get to the bank.
  • A Lasting Power of Attorney could be in existence having been made when the elderly had the capacity to transfer the power of decision making to their attorney.
  • A Lasting Power of Attorney would need to registered with the Office of the Public Guardian once mental capacity has been lost. Because all the decision making then falls on the Attorney they are in a position to control any capital on deposit or investments and they will also potentially have to control the sale of the elderly persons property in order to access the funds to pay their long term care costs.
  • If someone has already lost the mental capacity to make decisions for themselves and no Lasting Power of Attorney or its predecessor the Enduring Power of Attorney exists then a Deputy of the Court must appointed by the Court of Protection. They have a responsibility to appoint an appropriate adult that is trustworthy and capable of managing the overall financial affairs of the elderly person requiring care.

Will You be Providing Care for Your Elderly Parents?

Much as we hate to think about our parents aging and becoming more dependent by needing more and more help with day to day needs such as shopping cleaning and taking care of their personal needs like washing, dressing or using the toilet, many of us will find ourselves in the position of informal carers at some point in our lives.

Because the care a parent requires may start off with just a little extra help here and there we just find we step up to the roll without considering their escalating long term care needs. Dependency in most cases is likely to increase with advancing years unless the care is only required for a limited time for example t recuperate from an illness or operation.

Charities and consumer groups such as Carers UK are there to provide useful help and support for carers and their families. Forums can help connect you to other families facing the issues that you have and they can give you advice on how you can deal with the bad days cope long term. (more...)

A Lasting Power Of Attorney Protects the Property and Financial Affairs of Long Term Care Sufferers

Advances in medical services means that as a nation we can expect to live many years longer than our grandparents and great grandparents. Inevitably with age will come health problems including illness that affects memory and mental health such as dementia and AlzheimerÂ’s.

When an elderly person starts to fail in this area it is important that they have someone they trust to manage their property and other financial affairs. This can be achieved by setting up a Lasting Power of Attorney before loss of mental capacity. Once mental capacity has been lost the Lasting Power of Attorney must then be registered with the Office of the Public Guardian.

A Lasting Power of Attorney will convey decision making powers to the attorney but they must act in the best interest of the elderly person at all times. Should someone have already lost capacity the Court of Protection will need to appoint a Court Appointed Deputy to take care of their financial affairs. The Court of Protection oversee transactions to ensure that they are being done in the best financial interests of the elderly person. (more...)

Long Term Care - The Facts

A great many considerations need to be given to the growing need for providing Long Term Care to the elderly. In the United Kingdom we are set for an explosion in the number of the population reaching their retirement over the next ten years. Because of the advances to medical science an increasing number of these retirees can expect to live many more years than their parents or grandparents.

Because we can expect to live longer there is a greater risk that we will need some form of elderly care in our later years. Traditionally UK long term care was provided by the family and community that they live in, however modern day living now means that families are more widely spread from a geographic point of view and their children may hold down full time jobs. This makes the provision of long term care for an elderly relative much more difficult.

If long term care cannot be managed within the family unit options then need to be considered to provide care that is needed. Long Term Care can be provided in a number of settings which include:-

  • Domiciliary Care – this is long term care that would be provided within our own home. It may just be for a couple of hours each day to perhaps to help you get up in the morning and prepare meals the again to put you to bed at night. This type of care can easily be adjusted to cater to increased care needs when required. An example of this may be extra help at home following a stay in hospital to assist with your convalescence. Whilst this type of care may be the preferred option for most as it allows them to stay in their own home in reality the more dependent a person becomes the more prohibitive the costs would be.
  • Residential Care Home – Once long term care is required round the clock it is more cost effective for the care to be provided within a residential setting. The cost of this care will also include the cost of accommodation. There are two categories of residential home, those with nursing care and those without. Someone who has high dependency due to their medical conditions would need to be cared for within a nursing home. The average cost of care in a residential home is £25,000 per annum compared to £35,000 for long term care in a nursing environment.
The first stage in providing long term care is to arrange for a care assessment to be carried out by the social care department of your local authority. This assessment will result in a care plan clearly showing the level of care that is required. This may be as simple as just making alterations to the home for example installing a stair lift or adapting a bathroom to make access more manageable though to more complex solutions involving residential care or residential care with nursing. (more...)

The Task of Determining Mental Capacity In Elderly Care

As we get older our memory will quite often start to fail, however when someone has some form of dementia this deterioration in their mental capacity can be quite rapid. There are many forms of dementia and the part of the brain that is effected will determine the diagnosis. It is often difficult to diagnose dementia in its early stages. Sometimes the symptoms may be caused by other factors.

A series of tests will be carried out to gain the correct diagnosis which could include; an assessment of your mental abilities, medical history, CT or MRI scans of the brain and also any medication that you may have been prescribed as this can sometime have an effect on our mental capacity. Full details of the Mental Capacity Act can be found if you click here to understand its powers.

Under the law in England a person is presumed to have mental capacity unless evidence exists to the contrary. When considering the long term care needs of the elderly it is important therefore to keep them involved in the decision making process unless proof exists that they no longer have the mental capacity to make decision for themselves. (more...)

The Correlation Between Long Term Care and an Ageing Population

As a nation we are now going through a major transition in our demographics. This is likely to have huge implications on the ability of the nation to provide the much needed long term care required for the ever increasing numbers of our older population.

The Office of National Statistics estimates that in 2010 there were 2.6 million people in the UK aged 80 and over and they expect that by 2031 the over 65’s will total the 16 million mark. This will certainly put a strain on the long term care measures required to support this demographically challenged age group.

These figures illustrate the problems that lie ahead for providing care for the elderly. In the past long term care tended to be provided in the form of informal care from the family, but with society not changing and there are more and more single households this is likely to place an increased burden on the state and individuals in paying for care. (more...)

Welfare Benefits in Later Life

The NHS and Welfare State were introduced to the UK in the post war years in order to provide much needed additional help especially for the elderly in our community. In fact the UK State Pension is often the main stream of income for those in their later years. It is important to consider the benefits that you may be entitled to in later life to help fund the cost of providing long term care in your own home or in a residential care home.

Often many elderly people fail to make a claim for benefits that they may be entitled to because they are simply unaware they can make a claim or else they are put off claiming believing that the process is too complex. In a bid to make claiming easier it is now possible to claim many benefits on line or over the phone with staff from the Department of Work and Pensions completing the forms for you. The primary state benefit for those in retirement is the State Pension, however with changes in recent years many people will not receive their state pension until much later in life.

Care and mobility benefits are available to help pay for additional service or to just get around. If someone has care or mobility needs prior to their 65th birthday they may be able to claim Disability Living Allowance this benefit can be paid at various levels and is dependent on need. This benefit is often replaced once the claimant reaches the age of 65 by Attendance Allowance. Attendance Allowance can be paid either at the lower level for those needing care either through the day or through the night or at the higher level if the care needed is both day and night. (more...)

Assistance From Charitable Foundations With Providing Elderly Care

We have a predominantly aging society and as such, issues of geriatric concern are becoming ever more important. Long term health care is at the forefront of these issues, as a growing number of people need some type of long term health care in old age today.

Long term care can include help with a variety of things, and can range from help with daily chores to continuous nursing care. Depending on the nature of care services needed, it can be provided in a variety of settings – either in your own home, in community settings or in residential care facilities.

Long term care costs can include a wide variety of things. From carers’ or nurses’ fees to any modifications that need to be made to the home to make it more adaptable to your situation – all these expenses are included in care costs. The general cost of living is on the rise, and so is the cost of care. So who pays for long term care during old age? (more...)

When Does a Lasting Power of Attorney Come into Force?

A lasting power of attorney is a legal document that must be made in accordance with the proper legal code by a solicitor. It empowers another person to make important decisions on behalf of another person who for any reason is unable to make decisions for themselves. A power of attorney can be particularly significant in the case of individuals in long term care.

It can take up to nine weeks to register the document with the Office of the Public Guardian these days. The document only comes into force once it has been successfully registered. The Mental Capacity Act clearly sets out guidelines on how to determine whether a person is incapable of making decisions themselves. Generally a court or medical professional will help determine whether this is the case.

A lasting power of attorney can be registered by an individual in advance – while they are capable of making decisions. The document can set out the person or people who will be responsible for making decisions on the applicant’s behalf, as well as what those decisions will be and how they will be made. This means that a lasting power of attorney can essentially be like a will to be executed if and when the individual loses the mental capacity to make decisions on their own. (more...)

The Paying For Care Survival Guide

Rising care costs is a rising social concern. People are living for longer today than ever before, and issues related to old age are becoming more and more important. How does the care system work? Who is expected to pay for long term care? And what help can you expect from the state or from commercial lenders to pay for long term care?

Long term care can include a number of different things. And as such, long term care costs vary with every individual case. However, that costs of care - whether it is carers’ fees, care home fees, or affiliated costs like home adaptation – are soaring is a fact. Care costs can be significant, especially when considered over a long period of time.

The NHS provides fully funded continuing care for those that qualify for it based on a needs test. Continuing care includes any nursing component of long term care as well, and this is fully funded by the NHS irrespective of your financial means. The local Council provides help with care costs subject to a means test rather than a needs assessment. (more...)

Who Can Receive NHS Continuing Healthcare?

The UK care system involves many different players, and adheres to a certain standardised set of guidelines. Depending on the type of long term care you require and your personal circumstances, you may receive state funded care from the NHS, the local council or a combination package. The NHS provides a service known as continuing health care for those that qualify to receive it. Let us consider how the NHS continuing healthcare system works.

Continuing healthcare is provided by the NHS outside a hospital setting (in your own home or a residential care home) and is also fully funded by the NHS. For those who are eligible to receive NHS funded continuing healthcare, the NHS will fully fund healthcare costs - for instance, paying for the services of nursing staff, specialist therapists, or personal carers.

While social care services provided by the local council are subject to your financial status and savings, the NHS continuing healthcare service is free irrespective of your circumstances. For this service your primary need for long term care must relate to your health. The eligibility test for NHS continuing care is stringent and involves a multi level analysis of an individualÂ’s health status. (more...)

Where Do We Stand in Relation to Paying Care Home Fees?

The care system in the UK sets out those that are in need of either temporary or permanent care receive it. Long term care can mean anything from assisted living to ongoing therapeutic care. The agencies involved in providing care and who pays for the care depends on the type of care required and the circumstances of those who need it.

The NHS has a system known as continuing healthcare and provides this free of charge to those who need it. Any costs of care for those who are eligible for continuing healthcare are met by the NHS. Continuing care can be provided in any setting agreed upon by the individual, the local council and the NHS. Therefore, if you’re eligible to receive fully funded continuing care from the NHS, this may also cover care home fees and other care services such as specialist therapy etc.

The local council does a means assessment for those who need care and are not entitled to NHS continuing care. The means test assesses your income and capital to decide whether you are entitled to any help and if so, whether you need to contribute towards your care costs. The threshold for full, part or no state funding are set each year. (more...)

Even the Cost of Care Triggers a North South Divide

Cost of care includes all the expenses related to long term care and can therefore vary from case to case. Different care homes charge different fees and prices can range widely. Another important factor that can impact how much you will end up spending for long term care is – where you are situated.

Independent research suggests that in England there is a significant difference in social care spending between the north and south. This means that according to some research carried out after the last spending review, it has been observed that there are more cuts in the social care budgets in northern councils than in the south of the country.

While some northern councils seem to be cutting spending down to the bare bones in order to make savings, it seems that spending might have even increased in some southern neighbourhoods. So, how does this apparent divide impact on individuals and the costs of their long-term care funding? (more...)

How Future Assured is the UK Long Term Care Market?

UK long term care is facing unprecedented changes. On the one hand the costs of care are soaring, and on the other, ruthless spending cuts are being put into effect. How does this affect the care system and what does the future hold in store for long term care UK? Let us consider what the Dilnot Report suggests with a view for reform of social care funding.

In July 2011 the Dilnot Report was released. This report addresses how the funding system for adult social care in England can be reformed in the face of the changing social and financial circumstances of the nation. The report was a result of the work of the Commission on Funding of Care and Support, an independent body commissioned by the government to review the funding system for social care in England.

The fact that individual contributions to long term care are potentially unlimited at the moment creates a daunting prospect for most people. Long term care costs can be high particularly for residential care and especially when considered over time. It is not uncommon for people to lose their entire life savings and even their home in the process of paying for their own care. (more...)

Optimising Your Assets to Fund Care Long Term

The costs of long term care can be daunting when considered over a period of time. Care home fees are the biggest component of care costs, but depending on the type of care needed, there could be significant costs associated even with home care. Here is an overview of funding for care and different options for self funding.

There are ways to manage care costs in a way that you can protect your assets and still pay for care. A financial advisor with specialist knowledge in care funding could help you understand different options and choose the best possible option to suit your needs. The main ways open for care funding are Long Term Care Insurance Plans.

Insurance care plans are annuities and a way to ensure that long term care costs are met for as long as you need, in exchange for a lump sum. There are different types of care plans: deferred care plans, immediate care plans, and cash plans. Another way to meet with the costs of care is by taking a release of equity from the home. It is important to seek independent specialist advice before making important decisions related to your finances. (more...)

By Avoiding Long Term Care Costs Could Save the Family Inheritance

Long term care costs are rapidly on the rise. Recent research estimates that by 2025, the average cost of long term care will be £33,000 per person. Big budget cuts combined with rising costs means that it is more important than ever to plan in advance for the possibility of self funded care.

Long term care costs, especially in residential care homes, can mount-up very quickly and become unmanageable. Savings and investments that once seemed significant could be entirely lost to the rising costs of long term care, leaving you at risk in the most vulnerable time of your life.

Care costs can impact on your estate, affecting not only you but your family as well. Long term care insurance plans are a way to protect your assets while ensuring that the costs of care are met for as long as needed. They are insurance based products that involve investing a lump sum (premium) in exchange for a guarantee of payments. The terms and conditions of care plans depend on individual circumstances and needs. (more...)

Who Can Provide Advice on Paying For Care?

According to the Dilnot Report, based on the work of an independent commission set with the task of reviewing public funding for social care in England, there is a stark lack of understanding of the care system within our society.

The long term care system is complex and not many people are aware of the benefits they may be entitled to, or the different options available for self funding for care. This is why quality independent long term care advisers are hugely important.

Long term care is a matter of much importance, as we live in an increasingly ageing society. As people live for longer, more and more people require some type of care in their old age. At the same time, the costs of care are on the rise. Given these facts it is more important than ever to plan properly for old age, and make informed and considered choices. (more...)

How Do Local Authority Deferred Payment Schemes Work?

When an elderly person requires care there is an assessment competed to establish the type and extent of the care that is required. Following this a care plan will be provided and a financial assessment will be carried out to determine if the individual or the local authority will pay for the care required.

If the recommendation is for the care to be provided in a residential care home their local authority will carry out a means test and if their available assets are below the lower means test thresh hold of £14,250 the local authority will fund the cost of care up to their maximum cost. Each local authority will have a limit set for the cost they will pay for a bed in a residential home. Should a more expensive home be chosen then a ‘top up’ payment may be required by the person needing the care.

On entering care the Local Authority will disregard the value of any property for the first 12 weeks for the means test. This is known as the '12 week property disregard'. After 12 weeks the value of your home will be assessed with your other assets. At this point your local authority may be able to continue to cover the cost of care but on a Deferred Payment Scheme basis. (more...)

Principles of the 12 Week Property Disregard

Often elderly people find themselves being admitted into residential care as a result of a crisis, for example being released from hospital after and illness or accident or with mental capacity issues that may have resulted in wanderings.

Because there is sometimes little warning that an event like this is going to happen, their family is often thrown in at the deep end when gathering information about the provision of care. It is vitally important to know the welfare benefits that your loved ones could be entitled to as this can have a major impact on the overall cost of paying for care required.

During the first 12 weeks of being admitted into residential care the value of the individuals property will be disregarded from the means test. This was introduced to allow a decision to be made as to whether the property would be sold and to allow the elderly person to settle into the home before they had to sell their home to pay for their care. Details of the 12 week property disregard can be found in CRAG which stands for the Caring for Residential Accommodation Guide and helps understand the prinicples of the 12 week property disregard. (more...)

Could Equity Release Provide Solutions to Fund Long Term Care?

One of the greatest concerns for us all in later life is having to leave our well established home and move into a residential care home as our mobility or mental capacity starts to fail. Some elderly people are in a very fortunate position in that they have family or friends living close by who can provide much needed support as informal carers. However the sad fact is that as dependency grows your informal carers may not be able to provide the constant level of care required.

It would usually be at this point that a move to a residential care home may be considered. Many people feel that this is the only option as they have little or no savings to pay for care so they would expect that their property would be sold and the money would then be available to pay for their care.

There is however an alternative. There are various equity release schemes available that can help you to access the funds that are tied up in your home without the need to sell. This could enable you to pay for your care in your own home for as long as possible. This option may not be the answer for everyone but it certainly opens up more choice for the provision of your long term care. (more...)

Legal Services Made Available to the Elderly in Care

Due to advancing years many elderly people may start to struggle when taking care of their personal and financial affairs. The pressure may be eased by their family or close friends helping when asked to do so. It is likely that this situation will grow progressively worse at which point an attorney may need to be appointed.

Here is where Solicitors for the Elderly can help you to find a specialist legal adviser who has a vast amount of experience in dealing with elderly client issues you can find a specialist by clicking on their website here where information is provided in assisting the elderly on all things legal.

A Lasting Power of Attorney allows you to appoint someone your trust to take care of your affairs. There are two different forms of Lasting Power of Attorney (LPA). One of them deals with your property and financial affairs and the second one deals with your health and welfare. A Lasting Power of Attorney needs to be registered with the Office of the Public Guardian before you are able to use it. (more...)

Support For Carers of Elderly Parents

Owing to advances in medical science we as a nation are expected to live longer. Although we can expect to live longer, this brings with it the greater potential for more and more of us to need care in our later life. Many of us can expect to provide informal care to an elderly parent, friend or elderly relative when we would have expected to start having more time for ourselves between the ages of 45-60 years old.

Initially this care may just take the form of helping with tasks such as shopping, cleaning and washing to help our loved ones adjust to the later stages of their lives. As they advance in years their dependency on you is likely to increase considerably. Many people responsible for providing care are still of working age and may even still have dependent children to take care of. Trying to provide a balance I their own lives and providing the level of care required to a loved one can often be extremely stressful.

For the sake of your own health it is vitally important that you know where you can go to ask for help. Nobody can be expect to provide care to a loved one day in day out without being able to take a break otherwise your own health can suffer. Organisations such as Carers UK can provide vital information on where you can ask for help. It can also put you in touch with others who have been placed in the same position who may be able to provide tips on how to survive being a full time carer. This fantastic service is funded by the National Lottery Fund. (more...)

Top Up payments for Residential Care Purposes

On entering residential care a financial assessment would be carried out in order to establish if you need to pay for your own care of if your assets were below the means test limit of £23,250 you will receive some assistance from your local authority or if your assets fall below the lower limit of £14,240 your care should be fully provided by the local authority.

Each local authority will have an upper level that they will be prepare to pay for your care in a residential home. Because they will be taking many beds in residential homes they will normally be able to secure the places they require at a much lower cost than the care home may charge as their standard rate to a self funding individual.

Providing your assets are below the lower means test limit, you may be offered a deferred payment schemes which is will enable your care costs to be secured as a loan against your property. It may be possible to also include any cost of the top up against the property also. The debt will accrue during your remaining lifetime in care and would be paid off from the eventual sale of the property. The loan is interest free providing it is repaid within 56 days of the death of the individual. (more...)

How the Mental Capacity Act Affects Those Needing Long Term Care

The Mental Capacity Act 2005 was established to protect those who lack the mental capacity to make decisions on their own.

This may be due to a stroke, dementia, accident or brain injury. Its aim is to allow adults to make decisions for themselves for example how they would like to receive medical treatment or deal with their day to day personal and financial matters.

One important function of the act is ensure that all individuals are to be treated as though they have the mental capacity to make their own decisions until they prove beyond doubt that they do not have the capacity. (more...)

Changing Attitudes of Local Authorities Towards Those Self Funding Long Term Care

Many elderly people find that they are less able to cope on their own with their day to day needs in their later years. When the time comes a care assessment will need to be carried out in order to establish a care plan. A means test will also be carried out in order to determine who will pay for the recommended care plan.

The general means test would see anyone with assets exceeding the upper means test level of £23,250 in England and Wales paying for their care in full for themselves. They are known as self funders. The current lower level for the means test stands at £14,250. Someone with total assets below this threshold would be in the position where their local authority would pay for their care after taking into account any pension income or benefits that you may be entitled to. An individual with assets assessed between the upper and lower limit would receive some contribution for their care by the local authority.

In years gone by you may have found the Local Authority less than helpful in providing information to those who are self funding. You may have found yourself being cast away from the help and advice you required as the Local Authority may have felt it was a wasted resource. A tide of change is now sweeping the country which is being driven by Partnership who are a major provider of Long Term Care Plans and enhanced annuities for retirement purposes. (more...)

How are Self Funders Treated When Calculating Care Home Fees?

Research by the Government shows that nearly 40% of those in residential care will be self funders who are likely to be paying their fees from the proceeds of the sale of a family home. It is therefore essential to know the rules regarding the treatment of your property in respect of paying your care home fees and to be in a position to make the right decisions in the future.

If your need for care has been assessed as primarily needing care due to your health either through disability, accident or illness you will be entitled to receive your care free of charge due to funding through the NHS. This is known as continuing healthcare and because it is a needs based benefit, your home would be disregarded as no financial assessment would be required.

If you feel that your loved one should be entitled to this type of free care you need to ensure that an assessment is carried out. Recently the Government has opened their doors to a flood of claims from people who believe they had a case that should have been fully funded healthcare but had found themselves paying for their care themselves. It is likely that three out of four people in care who should have received NHS funded care. (more...)

Products designed to pay for elderly care

For an elderly person who requires care there are a great many decisions to be made either by themselves or their attorney if they have lost the mental capacity to make decisions for themselves.

The first decision will be where their care will be provided. Someone considered to be a self funder because they have assets above the upper means test limit of £23,250 could have a good deal more choice of how they receive their care than someone who is reliant on their local authority. This is because the local authority will have a cap on the maximum they will pay for a bed in a residential care home. An elderly person who owns their own property may wish to stay in that home but may need to access some of the capital tied up in the property in order to pay for their care needs. This can be achieved with an Equity Release Scheme which includes both a Lifetime Mortgage and a Home Reversion Scheme.

A Lifetime Mortgage is a loan that is secured on the property that will not require repayment until you die or leave the property to move into residential care. No interest repayments are required as this can be added to the loan amount and paid off once the property is sold. Home Reversion schemes differ in that the ownership of the property transfers to the plan provider in return for a lump sum. Again the arrangement is repaid from the sale of the property. (more...)

Freephone 0800 678 5139 Now for all you Long Term Care Advice & Needs

• What is Long Term Care?

• Things you need to consider

• How much does it cost?

• Can I stay at home?

Long Term care advice is also available from Independent Financial Advisers such as these:

SOLLA • Society of Later Life Advisers
Information on NHS Care
Carers UK