Care can be expensive. Most people pay some, or all, of their care costs themselves. If you have investments and/or savings of more than £23,250 you will pay for your own home care. If you have between £14,250 and £23,250 we may be able to make a contribution to your care fees. If you are going into residential care, the value of your house will be taken into account too.
You can reduce the risk of needing care by:
- staying fit, whatever your age. Information on staying 'Stronger for Longer' on Be Well website.
- taking steps to reduce the risk of falls. Many people are never able to live independently again after a bad fall.
- organising family support, using organisational tools like RallyRound, for example
- getting community support
- using equipment and technology that can keep you safe, well and independent
If you are assessed as being eligible for care and support services we will work out how much it will cost to meet your needs.
We will then carry out a financial assessment to see whether we will make a contribution to these costs.
The total amount needed to fund your support is called a personal budget.
Once your care needs have been assessed, we will give you a financial assessment form to complete. We may ask to see any documents you have which show your income and savings. These will include:
- details about your benefits, pensions or other income
- evidence of bank and building society accounts, national savings, shares or other investments.
- evidence of Council Tax, rent or mortgage interest payments
- evidence of any Disability Related Expenditure. (An additional expense that you have because you have a disability or frailty or something that costs you more because of this. You must be eligible for a disability benefit e.g. Attendance Allowance.)
We will work out the most you will have to pay each week. Full details of how we work out how much you will pay are in the Fairer Contributions Policy,
Independent financial and legal advice
If you will be paying for care, we strongly recommend that you get independent financial and/or legal advice. You must weigh up each option carefully. We are unable to give advice on financial matters.
You should choose a financial adviser who:
- can give impartial advice
- can help you make an informed decision
- has experience of providing advice on long term care
Fees for financial advice will vary. Costs should be transparent, make sure you understand how much you will be paying.
You may also need an adviser with a good understanding of the Mental Capacity Act 2005.
The Society of Later Life Advisers (SOLLA) helps people find Independent Financial Advisers in their area who specialise in the financial needs of older people. SOLLA members are independently accredited to offer the added reassurance that, as well as holding professional qualifications, they can offer practical guidance to help you make decisions about financing your care needs.
The Citizens Advice Bureau can also advise on local sources of support for financial advice.