Helping you to understand how
to finance long-term care
At Oxford Aunts we have been helping thousands of families better understand how they can finance care of a loved one, whilst providing guidance on any funding they may be entitled to. It is prudent for families to plan the financing of care for an elderly loved one as soon as is practically possible. Whilst you may not be entitled to any social care funding or healthcare funding, you will be entitled to some support from your local authority that could contribute to your live-in care costs.
Here we explain some of the allowances, credits and discounts you could access through your local authority.
If you are over 65 you can claim Attendance Allowance through your local authority if you need help and support with personal care. Attendance Allowance payments are non-means tested, so anyone can access them no matter what their financial circumstances. They are tax free and, in most cases will be included with your pension payments. Payments are between £57.30-£85.50 per week. Apply online for attendance allowance.
COUNCIL TAX DISCOUNT
You can apply for a council tax discount if your savings are less than £16,000. If you are living with dementia with a formal diagnosis you may be offered a discount or be exempt from paying council tax. The level of discount is determined through a comprehensive assessment of your condition and how severe it is. It is worth noting that if you have a live-in carer you will not loose your council tax single occupancy reduction just because you have a carer living in your home.
If you have a small income having saved in preparation for your retirement and have reached a state pension age by 6 April 2016, you will be eligible for Savings Credit. Your income should be a minimum of £140.67 a week. For a couple the minimum amount is £223.82. For every £1 over these minimum income amounts that you save, you are eligible to claim a £0.60 savings credit. However, there are maximum thresholds that you can claim per week – £13.40 for a single persona and £14.99 for a couple.
You may be entitled to a greater level of savings credit if you have caring responsibilities, are still paying a mortgage with interest or are severely disabled. Call the Pension Credit helpline on 0800 99 1234 to find out what you can claim.
PERSONAL INDEPENDENCE PAYMENT (PIP)
Personal Independence Payment is a new benefit that replaces the old Disability Allowance and is for people who may need help with daily activities or getting around due to a long-term illness or disability. PIP is broken down into two parts – a daily living allowance and an allowance relating to mobility. An assessment of your care needs will determine which allowance you are entitled to. Some people will be entitled to both. Allowances range from £59.70 to £89.15 for the daily living component and £23.60 to £62.25 for the mobility department. To start a claim, call the Department for Work and Pensions (DWP) on 0800 917 2222.
TALK TO US ABOUT YOUR LIVE-IN CARE NEEDS
Call our friendly and approachable care advisors today to arrange an assessment of your care needs. This will give you a better understanding of the cost of live-in care. We can then help you explore what financing or funding is available to you and your family.