Funding Care in the UK – What Financial Support Is Available?
Planning care for a loved one often raises an important question, how will it be funded? A common concern that we hear is how long will their savings last.
Understanding the different types of financial support available in the UK can help families make informed decisions and ensure their loved one receives the care they need.
While many people assume they must pay for care entirely themselves, there are several forms of financial assistance that may be available.
Local Authority Funding
Local authorities can provide financial support for individuals who meet certain eligibility criteria. There is a savings or assets threshold of £23,250. If assets are under this amount then adult social care may provide financial support.
They will always carry out a care assessment and a separate financial assessment.
If someone qualifies, the local authority may contribute towards the cost of care, whether that support is delivered at home or in a residential setting.
NHS Continuing Healthcare
NHS Continuing Healthcare is funding provided by the NHS for individuals with complex medical needs.
If someone qualifies, the NHS may cover the full cost of their care, including live-in care at home.
Eligibility is determined through a detailed assessment that looks at the nature and complexity of an individual’s health needs.
Attendance Allowance
Attendance Allowance is a benefit available to people over State Pension age who require help with personal care due to illness or disability.
This financial support is not means tested and can be used to contribute towards the cost of care.
Many families are unaware that they may be eligible for this benefit.
Self Funding Care
Some individuals pay for care privately using their own savings, pensions or assets.
While this can feel daunting at first, many families find that planning ahead and seeking professional advice can make the process much clearer. Mumby’s are affiliate members of SOLLA (society of later life advisers). Widely regarded as the gold standard in later life financial advice.
Care providers are often able to guide families through the available options and help them understand potential costs.
Seeking Professional Advice
Funding care can sometimes feel complex, particularly when navigating assessments and eligibility criteria.
At Mumby’s we can help navigate the process with our experience and knowledge. We can be present at social care assessment meetings or offer care notes as the care provider to evidence the level of support required. Our care managers collaborate with social workers to make the process less stressful.
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