Understanding care funding options for you or a loved one can be a complex and daunting process. The cost of care is dependent on your personal circumstances and by carrying out a little research and utilising resources available to you, your options become clearer and easier to understand. When considering your best options for funding care the first step is to ensure that all state entitlements are explored.
Depending on your individual circumstances there may be benefits to which you or a loved one may be entitled. Main Benefits include:
● Pension Credits
● Saving Credits
● Attendance Allowance
● Disability Living Allowance
● Carers Allowance
You may be eligible to receive help with funding your care from the government. You have the right to request a free care assessment from the Social Services department.
This can include a community care assessment and a means-tested financial assessment to see if you are eligible to receive support with the cost of your care
Should you not be eligible for public funding, or would simply prefer to fund your care privately, you will need to source your care independently. If you need advice on private care funding options we recommend that you speak with a Financial Advisor who has Care Fee Planning’ knowledge and experience.
Independent Living Fund
The Independent Living Fund is funding from the Government to support people with disabilities to live independently in their own homes. Payments are made to people with disabilities so they can afford the costs of a personal assistant or care agency to provide the support they need to remain living at home.
You can find out more about the Independent Living Fund on the Government website by clicking here.