Advice for self-funders
We strongly recommend that self-funders seek specialist information and advice and explore all of the funding options available. The funding of long-term care is likely to be one of the biggest financial decisions of your life – lack of planning could result in depletion of your assets and inheritance for your loved ones.
We are working with PayingForCare, a not for profit organisation, to provide self-funders with valuable information on all aspects of long-term care. We want self-funders to make informed choices about their care and how they pay for it.
Information from PayingForCare includes:
- the state benefits you may be entitled to
- the different types of care available
- the social care system and eligibility rules
- access to specialist advice on the best way to pay for your long-term care
- how to set up a Power of Attorney or Will.
Telephone 0808 208 9994 for specialist advice on the best way to fund your long-term care.
PayingForCare offers help, information and advice about long term care and enables those that need regulated financial advice to make contact with specialist care fees financial advisers. PayingForCare Limited (“PayingForCare”) is registered in England and Wales (Company no. 7866192). The registered office is Regent House, 1-3 Queensway, Redhill, Surrey, RH1 1QT. PayingForCare is part of the Partnership group of companies which includes Partnership Life Assurance Company Limited, an authorised insurer.
My income and assets are below £23,250
If your income and assets (including any property) are below £23,250 you may be able to get support from Nottinghamshire County Council. To work out how much you might have to pay we will do a community care assessment and a financial assessment. These will look at:
If we agree you are eligible you will be entitled to financial support up to a standard limit for the type of care provided for you.
This is a complicated area and we have produced an easy to read guide that explains clearly:
how we work out what you will have to pay
how benefits can help you fund residential care
how other people can contribute towards your fees
guidance on managing your money.
Download a copy of Living in a care home - financial support from your council [PDF 636KB]
The cost of a care home
The amount you might be charged for a care home charges depends on the quality of the home.
Each year we audit every care home in Nottinghamshire looking at factors such as the quality of care and the living environment. Each home is then put into one of five fee bands where level 1 homes are the lower quality and cheapest and level five homes are the higher quality and more expensive.
The band a home is in can change depending on the results of future audits and so the amount you might be charged may also change.
The PayingForCare website has the facility to talk to a specialist care fees adviser online and get instant answers to your queries.
Paying for long-term care in England is a useful guide to getting advice on paying for your own long-term care.
The Financial Services Authority is the national regulator for financial services. They have a telephone helpline for queries about financial services.
Tel: 0300 500 5000 Textphone: 18001 0845 606 1234
Age UK provide useful information about choosing a care home.
Tel: 0800 169 6565 Web: www.ageuk.org.uk/home-and-care/care-homes/