Care Home Fees

[Coldicote]

I read a newspaper article recently about ‘massive’ care home fees. It appears that all one’s life savings (and one’s home) can be used up in a short space of time. What happens then and how are others coping with it? I have no immediate family and dread the thought of getting old on my own. Is it worth saving up for old age?

[factor-fiction]

If you have a home but aren't able to live in it in later years because of the care you need I suppose you can't take it with you so you might as well benefit from it. If your money runs out the state will support you in the care home.
But it's a complex area- contact CAB or Age Concern (or whatever it's called now)- they can advise

[sandyRoe]

I think once the money you had is eaten up by the fees the state takes over paying.

[black_cat51]

care homes round here can be 1k+ per week
If you are in a care home, you will no longer need your house, as your residence will be the care home. When the proceeds of your house go below around 20k, social services take over your funding (presuming that you are not entitled to NHS funding)

[ummmm]

A small amount does get paid by benefits.

They use your cash and then the state takes over. My nans home is £1,300 a week.

[ummmm]

I think it's about 28k you can have before they charge. That's per person so a couple can have double that.

[woofgang]

I am not sure of the percentage of old people who end up in care homes for longer than a few months, maybe a year or so, and I am sure its grown, but 10 years ago, I was told that the percentage of people who do anything but remain in their own homes and die after a short illness was about 5%. Not saying its not an issue but no one hears about the majority who never need residential care.

[black_cat51]

ps if you need qualified nursing care (nursing home rather than residential home) you can get a payment of £107 per week called funded nursing care. This is made in recognition of the fact you can't have district nursing in a NH.
you also get attendance allowance, which goes towards it

[Old_Geezer]

When they have grabbed most of what you prudently put aside then the State recognises you are/were a tax paying citizen with a right to help when it's your turn to need it. You need to live it up in the few years before reducing life quality means you can no longer cope for yourself.

[gness]

My mother has been in care for three years.....her savings and money from the sale of her house paid for her care until her savings decreased to £23.000.
Then the state pays with a small monthly contribution from her until her savings drop to £14.000 which she can keep and the state takes over completely....unless they can persuade me to pay....☺

The care she has received/receives is exactly the same as those who didn't save or own a home as she did.

This is in Northants....other areas may differ.

[dave50]

As usual those who have contributed end up with the same benefits as those who have which is totally unfair. There needs to incentives or penalties. EIther way, those who have paid in should get more.

[Graham-W]

Things are due to change in 2016 if you can hang on that long.
https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/268683/Factsheet_6_update__tweak_.pdf

ps. I did't say things would get simpler.

[gness]

Dave...we struggled to get my Mum to spend money on herself in her later, healthy years...even heating the house was a no no.....she had to save and had to know there was a house and money in her will for one of her children...not me.....but now it's gone.

Okay...some may argue...well it's keeping her..Hmmmmm?

I intend to die very, very poor.....and I'm enjoying spending all I worked and saved for right now.....☺

[gness]

I skimmed through that last week, Graham.....too late for my Mum....and it will be as complicated as ever I suppose....I'm spending mine just in case...☺

[jennyjoan]

Gness was that response a tongue in cheek - wanting to be poor at the end. Do you not worry that you may not have enough money for a rainy day if you live longer than you anticipate.

[gness]

Hi, Conne.....Not at all.....I can live well enough on my pensions when I get older......just more simply.

I was 58 when MrG died and I decided then that my 60s was going to be my decade.... to dip into our savings and spend the lot enjoying myself while I'm still fairly fit and able to do things I probably won't when I'm in my 70s
So..I dip lots...spend lots....and enjoy it.

If I've made a mistake...tough....I'm having fun.....☺

[jennyjoan]

Well Gness good for you!!

[gness]

Thanks, Conne....☺...I suppose too seeing how MrG worked and saved to make sure we had a comfortable retirement.....which he sadly didn't live to enjoy changed my thinking.

We lost out financially throughout his illness because we had savings....and because I had to retire very early.....bu99ered if they're getting their hands on any more......it'll go on shoes...wine and wild, wild men....if I can just find one..... :-(

[jennyjoan]

LOL Gness I am sure you can get a man but do you really really really want one - aren't you having a great time without one.

[gness]

One in the cupboard to bring out now and again for dinner, theatre etc. would do nicely, Conne....☺

[jennyjoan]

Oh Well make sure he doesn't get his feet under the bed.