Live In Care
Paying for Care | Funding Options
Requiring care for yourself or a loved one can be a daunting position to reach. What will it cost you and your family, and can you afford it? These questions are compounded by an even more important question: what type of care is best for my individual situation?
At Four Oaks Healthcare, we believe that everyone should have access to the care they need, with the preferences they want. In our experience, live-in care or home care is often favoured, as this allows people to continue to live relatively independently in their own homes. To help you find the best possible payment option for you, we have put together this resource on care funding.
What are the options available to pay for home care?
There are a number of care funding options available to you in the UK. A number of these require eligibility and assessments, so it is important to note that you will need to research which will be accessible in your individual case. Here are the main home care funding options:
Local Authority Funding
Long Term Care Insurance
Deferred Payment Scheme with your local council
NHS Continued Healthcare Funding
Do you need to sell your house for funding?
If you move into a care home and cannot afford to pay for care, you may have to sell your house. Since it is one of your assets, it counts as your capital. So if you cannot pay the care home fees, you will not receive funding while still retaining your property.
Tip: To find out more about selling your house and how you can avoid this, read our resource on selling your home to cover care home costs.
What happens when you are self-funding your care and run out of money?
If your capital reduces below £23,250, you can seek local authority assistance. If your live-in care costs more than the local authority is prepared to pay, the costs will have to be topped up by a third party, or you will need to find another type of care.
What financial support can I get from my local council?
As previously mentioned, social care funding is dependent on your needs and eligibility. In order to receive care funding from your local authority, you will first need to get a care needs assessment. Your local council will then carry out a financial means test.
For this test, they will look at your income, property and savings to determine how much you need to contribute towards the cost of your care and support. They will also then outline the support they are prepared to provide.
How much does live-in care cost?
At Four Oaks Healthcare, we aspire to offer the most affordable care prices without compromising on quality. We have created hundreds of bespoke packages for clients with a variety of care requirements across the UK. Each client is matched to a carer based on individual needs and interests. Regular reviews and quality audits are conducted to ensure that only the highest quality of support is offered.
Care costs vary depending on what level of support is needed. The main influences include:
- Whether they have specific medical needs that need to be catered to
- If the care recipient lives alone or with a partner, who also requires support
- If elderly care recipients have been diagnosed with dementia or Alzheimers