Here at Bristol Care Homes, we know it might be challenging to understand the funding system for a place in a care home. This is why we have prepared this guide explaining the private and social services funding of fees.
How much of the care fee will I pay?
Residents with more than £23,250 worth of capital assets currently pay the full cost of their care home fees to cover accommodation and personal care. In nursing care homes like our homes in Bristol and South Gloucestershire, the nursing care element of the fees is usually funded by the NHS, via Funded Nursing Care (FNC) payments.
Is the value of my house included and do I need to sell it?
Social Services will ignore the value of your house for the first 12 weeks of your stay. During this period, providing your savings do not exceed the £23,250 threshold, your contribution will depend on your income and any savings that you may have – Social Services will usually pay the remainder of your fees.
After this time, your property will be treated as capital unless your partner or an elderly or disabled relative continues to live there. If you have more than one property, only the main property (usually your last residence) will be disregarded for 12 weeks.
If you sell the property within 12 weeks, the proceeds from the sale will be treated as capital from the date when it ceases to be tied up in that property. Otherwise, after the first 12 weeks, if the value of your property and the total of your other capital exceeds £23,250, you will be self-funding and you will not receive financial assistance with your care home fees. However, if you cannot sell or do not wish to sell your property, Social Services may be able to assist with your care fees under the Deferred Payments Scheme by loaning you the money towards your fees and placing a legal charge against your property.
If your care home fees exceed the amount that Social Services would normally fund, then you will need to find money to pay some of the fees from elsewhere during the 12-week period that your property is disregarded.
While you are selling your property, you may be entitled to certain welfare benefits.
What happens when my assets fall below £23,250?
As your assessed capital reduces towards this level you should contact Social Services to advise them of your financial situation. Social Services will then carry out a financial assessment to determine the level of assistance applicable. Any social service contribution will help to ease the financial burden on your capital but please bear in mind that this may fall short of the room fee. Should this be the case a 3rd party top-up contribution will be required to meet the full room rate. This can be paid by either a relative, friend or charitable organisation.
Social Services should be contacted further when your assessed capital reaches £14,250 when further funding may be available. They will then need to carry out another financial assessment to determine the level of funding applicable at this point.
We would ask for your cooperation when these situations arise and would be grateful if you could keep the management at the home updated on the progress of any change to your funding arrangements.
You should also bear in mind that while all parties will work towards the continuation of the placement at the current home, we cannot undertake to provide care at less than the room rate in your present contract which will need to continue to be paid for in full.
If you have any questions or need any help, please feel free to contact any of our 4 care homes in Bristol and South Gloucestershire.
