The Numbers To Keep In Mind Regarding The Nursing Care Costs UK
After a lifetime of hard work, the last thing you want is to have to spend all of your savings and asset’s value on nursing home. However undesirable this option is, you will sometimes not be able to avoid it and you will have to come up with solutions in order to lower the nursing care costs UK with as much as possible. If that is so, keep in mind certain numbers, because they will be essential for the decision you are about to make.
First of all, keep in mind the fact that L23,250 is the maximum limit to which your assets should be valued in total if you want to receive help from the Social Services. Although this type of help will not be able to account for the entire sum of money you have to pay for nursing care costs UK, it will definitely lower it by a lot. If the minimum you can pay for a care home’s weekly fees is somewhere around L460 (and this does not include nursing fees), this kind of Social Services aid can actually lower the total weekly fee by a lot, according to how much your capital is valued at. For example, if your capital is worth anything below the above-mentioned limit, you will only have to pay L1 for L250 that is part of your capital (which means that for a capital of L20,000, you will have to pay a weekly fee of L72 – much less than paying everything in full).
Also, the number “23,250” is to be kept in mind even if you do have a capital worth more than that because if you run out of money and start going below this limit, you will still be able to receive benefits from the Social Services. Furthermore, if you have to sell your home in order to pay for your care home fees, you can also receive help from the Social Services for up to 12 weeks if your capital is worth less than this limit without taking into consideration your home. This 12 weeks’ time frame is supposed to give you some time to sell your home and receive home care in this time as well.
Do keep in mind the fact that if your capital is worth anything less than L14,250, you will be entitled to full help from the Social Services. According to how much exactly you have, you will only have to pay a maximum amount of L23.90 every week if your capital does not reach this limit.