LONG TERM CARE

Long term care encompasses residential and nursing homes, as well as care in your own home. Depending upon your financial circumstances, long term care can be provided to you or your loved one by private or voluntary organisations, or through the Public Sector in the form of the Local Authority or NHS.

Entering into long term care is a complex and usually costly business where professional advice should be sought at the earliest opportunity. Leaving decisions on long term care to the point where it is actually needed will mean that your options are severely limited through your own inability to make complex decisions or through what may be available at short notice. MaxLyte Financial will help you plan ahead for your long term care, for if and when it is needed.

YOUR LONG TERM CARE OPTIONS

HOME  CARE

Home care is the simplest of the long term care options open to you. Normally, you will still be capable of living and running your life in your own home, but will need support for some aspects. This is where services such as meals-on-wheels and community nursing come into play.

Local authorities are generally the organisations which arrange home care for you, though private care is also available. They may arrange for a nurse to visit you each day to ensure your health is as good as can be; or for meals to be delivered to you every day, where you are incapable of preparing food for any reason.

Long term home care is also often provided by family members who act as carers.

Care Homes

Care homes fall in to two main categories - private care homes, where the individual pays for their own long term care; or local authority care homes, where the state covers the cost - unless the individual's capital is high enough that they are forced to partially or fully self-fund their care.

In private care homes, you naturally have the choice of long term care to suit your financial budget, giving you the greatest flexibility in the choice of the level of luxury you can afford.

However, local authority care homes will mean that you are means tested. In 2018, if your income or capital amounts to more than £23,250, you will be required to contribute to your long term care costs. The rules around this are complex and expert advice from a long term care specialist is strongly recommended.

MaxLyte Financial will help you find the best solution for you in dealing with your long term care for the day it is needed. Our impartial and expert advice will ensure that your investments and equity are protected as well as possible and that the best options are made for your long term care.

Age UK's Long Term Care Recommendations

Please find below the process recommended by Age UK which they have recommended you read on this website.

We look forward to offering the additional information you may require

Click here to go to Age UK's page to view their advice.

This is what it covers:-

  • The main steps of the process.
  • What the means test looks at.
  • What happens if you give away money.
  • How capital will be treated.
  • How income will be treated.
  • How much you’ll have to pay.
  • What happens if you prefer a more expensive care home.
  • How you go about paying for the care.
  • What if you run out of money.