Paying for care homes is an expensive business; the average cost of a nursing home in England and Wales is in excess of £1,800 a week, or £93,600 a year.
Paying care fees is an expense that many people are unaware they are liable for until it is too late. Clients tell us that they incorrectly assumed the cost of care in their old age would be met by the state, and were under the impression that because their only asset is the family home they wouldn’t be liable for any costs.
In fact, the reality is that the value of the family home is taken into consideration when calculating whether an individual has assets exceeding the means testing threshold of £23,250. Due to the fact the average home in the UK is worth in excess of £250,000 the typical scenario is that anyone that owns their home will be liable for the full cost of their care.
Many people do not realise how expensive caring for the elderly can be, especially if a relative requires 24 hour care. The average cost of a nursing home in England and Wales is £1,800 a week, or £93,600 a year. This figure can be higher still and often in the region of £2,500 a week, for specialist dementia care and EMI homes.
Once an individual’s assets fall below £23,250, they have to continue to contribute towards care costs until they fall to the lower level of £14,000. Sadly even once their capital assets are below £14,000 the individual will have to continue to pay towards their care from any income they receive, normally from a pension.
The exception to this rule is where the individual’s need for care is primarily a health one. In this case, the NHS are obligated to step in and meet all the costs of paying for care in full by providing funding known as continuing health care.
If an individual has significant ongoing health needs, it is important to secure their entitlement to continuing healthcare to avoid the liability of paying for care. The issue is that the NHS is increasingly restricting access to the funding and individuals who ought to be eligible are being denied continuing healthcare. Compass CHC are specialists in continuing healthcare and have a high success rate in securing funding for our clients in the swiftest possible timeframe.
It is not necessary to wait for a negative decision, we can assist in influencing the assessment in your relative’s favour while they are still in hospital before any discharge to a nursing home. Complete our enquiry form to find out how we can assist, or contact a member of our team directly on 0800 008 7777. Don’t delay, start the process in avoiding paying for care homes today.
Author: Tim Davies LLB
