Funding Options for Live In Care
We want you to be in full possession of the facts so you can make an informed decision about funding live-in care.
With Live in Care from CRW Consultancy, we promise you that our costs are fully explained, transparent and free from hidden extras.
If you are interested in having a live-in carer, there is probably one question that is holding you back; How will I pay for my live in care at home?
Financing live-in care can seem overwhelming with all the different options, but it is easier than you think, and you may even have more than one option to fund your care. Whilst many people funding live-in care choose to do so privately, there are other options for you to explore. We have outlined the main healthcare funding options below, so you can access help if you are entitled to it.
Additional sources of information on funding live-in care:
UK Government Guide
Age UK
Money Helper (Previously known as the Money Advice Service)
Social Care Funding
You may be eligible for social care funding which requires an assessment from your local health authority. This will be a financial assessment and it is means-tested. If you do not qualify for the funding, you may be expected to pay all or parts of the costs of your care.
If you prefer, you can receive your funding from the local authority directly into your bank account and pay for the care you chose rather than accepting care from your local authority, you will have to top up your direct payment if you use more care.
Healthcare Funding
This is funding for those who have ongoing, complicated or unpredictable health care needs. It is funded by the NHS who will arrange an assessment to determine your eligibility for the funding, however the criteria are very strict.
You can access this via an initial assessment by your GP. If your GP thinks you may be eligible you will be referred for a full assessment by a healthcare team.
State Benefits
Are you entitled to the following state benefits? If you are not already claiming state benefits then they could help towards paying for your care:
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Privately Funding
If you are responsible for funding your own care, there are a number of options you can consider. A good place to start would be speaking to a financial advisor. One of your options would be to invest in an investment that can provide you a return or equity release. We cannot offer financial advice but would encourage you to consult a professional financial advisor.
To discuss the funding options that may be available to you please get in touch.