Long Term Care Planning
Types of care
- Sheltered or assisted living: These options offer independence with a safety net. You have your own home, but help is on hand in an emergency, and a warden may provide limited assistance.
- Domiciliary care: A carer visits you at home to help with daily activities such as washing, dressing, and preparing meals. This can range from short visits to several visits a day.
- Live-in care: A carer lives with you in your home to provide round-the-clock support and companionship, offering a comprehensive alternative to moving into a care home.
- Reablement care: This is a short-term, intensive form of support, usually following a hospital stay or illness. It concentrates on helping you regain skills and confidence to live independently again.
- Care homes: When more support is needed, a care home may be the next step. A residential home provides accommodation and personal care, while a nursing home also has registered nurses on-site to provide medical care.
- Palliative and end-of-life care: For individuals with a terminal diagnosis, this specialised care focuses on managing pain and symptoms to provide comfort and the best possible quality of life.
Who pays for your care?
NHS - Continuing Healthcare (NHS CHC)
In some cases, the NHS might cover all your care costs. This funding, called NHS Continuing Healthcare, is for people whose care needs are mainly health-related rather than social. Eligibility is decided through a thorough assessment process and isn’t based on your financial circumstances.
NHS – Funded Nursing Care
If you are not eligible for full NHS CHC but have been assessed as needing care from a registered nurse in a nursing home, you may qualify for NHS-Funded Nursing Care. This is a fixed weekly contribution paid directly to your nursing home to help cover the nursing part of your fees. It is not means-tested and is tax-free. Rates differ across the UK.
Local authority
Your local council may assist with funding for care, whether at home or in a care home, but this support is both needs-assessed and means-tested. The council will evaluate your care requirements and then review your financial situation, including your income and capital. If your capital exceeds a certain threshold (which varies between England, Scotland, Wales, and Northern Ireland), you will probably need to pay for your own care.
Under Section 117 of the Mental Health Act 1983, certain individuals may be entitled to free aftercare services upon leaving hospital, which are not means-tested.
Benefits
You might be eligible for certain state benefits to assist with care or disability costs, whether you’re at home or in a care home. Those providing unpaid care could also qualify for support.
It’s worth checking your eligibility for:
- Personal Independence Payment (PIP), Disability Living Allowance (DLA), or Adult Disability Payment (in Scotland)
- Attendance Allowance
- Carer's Allowance
- State Pension and Pension Credit
- Council Tax Reduction
Eligibility depends on your age, health status, and location within the UK.
Self-funding
If you are not eligible for public funding, you will need to pay for your care yourself, either partially or entirely. This usually comes from your income and any capital or savings you possess.
If you are concerned about how long your funds will last, there are financial products and strategies to consider. An Immediate Needs Annuity, for example, involves paying a lump sum in exchange for a guaranteed, regular income for life to cover care fees.
Alternatively, you might need to use the capital invested in your property. This does not necessarily mean you have to sell your home; options like equity release are available. However, it is essential to seek professional independent financial advice before considering any course of action involving your home.
EQUITY RELEASE WILL REDUCE THE VALUE OF YOUR ESTATE AND CAN AFFECT YOUR ELIGIBILITY FOR MEANS-TESTED BENEFITS.
Executive Pension Plan
Long Term Care Planning
Long-term care planning is about taking measures to ensure you are equipped for any support in later life.
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Where we are
HCF Partnership
Ground Floor, 8 Beaumont Gate,
Shenley Hill, Radlett,
Hertfordshire, WD7 7AR