Care home funding - What you need to know

We recognise that when people first start researching care home funding and begin thinking about how they might pay for any care that is needed, the wealth of written information available online can sometimes seem overwhelming and complicated.

We have worked with Eldercare, an independent firm of care funding experts, to create a series of short videos answering some very common questions about paying for care.

We hope these videos provide a gentle introduction to some important topics, help you feel more informed and show that there are organisations and people you can contact with your questions who can support you with your decision making.

Episode 1 - Moving into a care home and your property

 

Do we have to sell our family home?

In our first video Cliona and Nicky start by discussing if the move into a care home means you have to sell your home. They talk about how the 12-week disregard period can help give you time to make decisions. They look at the option of renting the property out to help finance care and explain what the Local Authority deferred payment agreement is.

Episode 2 - Support available for anyone paying for their own care

 

Is there any funding assistance for self-funders?

Nicky explains what Attendance Allowance, NHS-funded nursing care and NHS continuing healthcare (also known as CHC) are, and who may be eligible for each type of support.

You can find more information on Attendance Allowance and how to claim it on the Gov.uk website here.

The NHS continuing healthcare checklist Nicky mentions in this video can be found on the Gov.uk website here.

Episode 3 - What to do when funding becomes an issue

 

What happens when the money runs out?

Next Nicky and Cliona discuss how to approach your Local Authority to ask for an assessment if your personal funds decline. They also discuss how cash-flow modelling might be helpful and how exploring the option of a care fees annuity might actually prevent funds depleting, which may help offer peace of mind for some people. 

Episode 4 - Lasting Powers of Attorneys 

 

Why do people need a lasting power of attorney?

In this video Nicky answers questions about what a lasting power of attorney (LPA) is, the different types and why they are so important for everyone to have – not just something we need as we reach later life or need care.

You can find more information on lasting power of attorneys on the Gov.uk website here.

More information

For more information on when you might be entitled to funding assistance, including details of the current capital limits, visit Gov.uk, the Government’s public services information website, or speak to your local Social Services department or GP.

If you would like to find out more about the advice and services Eldercare can offer visit the Eldercare website here. They also produce this free downloadable "Paying for care" guide.

If you would like to know more about specific fees in Anchor care homes please contact your chosen home and the management team will be happy to answer any questions you have.