Will I End Up Having to Pay My Parent’s Care Home Fees?
If one or both of your parents is moving into a care home, it can be a very emotional and stressful experience. While you may feel reassured that someone will look after them at all times, round-the-clock care is expensive, and you might be afraid you won’t be able to afford the costs.
How much will I have to pay for care home fees?
Your local authority will make a financial assessment, taking into account your parents’ income (including pensions and benefits) and their total capital (house, savings, assets).
If you live in England, the current rules are:
- If the total amount is more than £23,250, your parents will be expected to pay all fees.
- If the total is between £14,250 and £23,250, your parents will have to pay £1 for every £250 of capital between these amounts.
- If the total is less than £14,250, your parents will receive the maximum support available for your local authority. Your parents will still have to contribute to their pension, minus £23.50 a week, which is safeguarded.
The good news is that these rules are expected to change soon. The government has announced plans to increase the maximum threshold from £23,250 to £123,000 and introduce a cap on care home fees of £75,000 by 2017.
For now and in the future, if your parents do not have significant savings, they will not have to pay for their care. Your parents may also be exempt from paying care home fees if they require continual medical help, have specific nursing requirements or have a terminal illness. If this is the case, the NHS will cover the cost of care. If you believe your parents are eligible, a medical assessment can help determine whether they are entitled to have their care costs covered.
The rules are complex, and it’s often difficult to work out whether you, your parents, the government or the NHS should be paying for your parents’ care. The best way to be sure is to speak to us. We’ll help you understand your position, what you need to pay and how much, and your payment options. We’re here to support you while you support those you love.
For more information or a copy of our free guide to Paying for Care Home fees, please call us now on 01273 604123 about how to protect your inheritance, email us at firstname.lastname@example.org fill out our enquiry form or come in and visit us in our Brighton, Worthing, East Grinstead or arrange a meeting in our London office.
This note is general comment. Don’t forget you need to take advice specific to your circumstances before acting or deciding not to act.