Navigating the complexities of care funding can be a challenging task. Understanding what care funding you might be entitled to is essential to ensure you or your loved one receives the appropriate support.
To begin, it’s crucial to differentiate between healthcare funding and social care funding. These two types of care serve distinct purposes, and determining which one applies to your situation is the first step.
These needs are related to the treatment, control, prevention, or aftercare of a disease, illness, injury, or disability. They may involve tasks carried out by health professionals.
Social care focuses on assisting with daily living activities, maintaining independence, social interaction, and more. It aims to enable individuals to participate fully in society and may involve complex relationships and supported accommodation.
The National Framework for NHS Continuing Healthcare and NHS-funded Nursing Care provides these definitions to help you get started.
In England, understanding the financial aspect of care funding is critical. If your assets exceed £23,250 (including most savings and investments, excluding the value of your property), your local authority may expect you to cover your care costs.
For jointly held assets, such as a joint bank account, only your portion of ownership is considered. For example, a couple with £30,000 in joint savings would be seen as having £15,000 in assets per person.
To determine your eligibility for financial support towards your care costs, you can request a Financial Assessment from your local council. This assessment evaluates your financial means and calculates:
The Financial Assessment Officer will review various aspects of your finances, including income, savings, investments, benefits, property, and pensions.
If you have assets less than £23,250, the council may contribute to your care costs, often through a direct payment as part of your personal budget. It’s important to note that your financial situation is subject to annual reassessment.
At Horizon Care South West, we’re here to assist you with any questions you have about the costs and funding of home care in Devon. Our experienced, family-focused care providers can offer guidance on available care options and the full cost of your care.
As a private care provider, we directly employ all our carers, enabling us to provide a fully managed home care service. This means we handle every aspect of your care, giving you more time to enjoy meaningful moments with your loved ones.
To learn more about care funding qualifications and discuss your unique situation, please don’t hesitate to contact us today.
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