Elderly Long-Term Care: How to Avoid or Cope with Costs

Aug 18

Elderly Long-Term Care: How to Avoid or Cope with Costs

Many citizens are concerned about elderly long-term care and how they will be able to cope with rising costs in the future. Many families have been forced to sell their homes and other assets just to be able to afford these costs….

It helps to understand the criteria for assistance eligibility but those who do not qualify may find themselves at a loss as to how they are going to fund these rising costs. Long-term fees are expected to see a steady increase over the next few years, going as high as £33,000 by the end of 2025. Knowing how to offset these costs, what assistance you may qualify for and how you can increase your qualification is important. Here are a few things that you can do to help fund your long-term care and give yourself a little peace of mind:

 

  1. Learn what help is available from your local authority and what you must do to qualify. Your local council will be able to tell you where you stand regarding assistance and assess your specific needs based on your location. Once you have determined your need, you can allow the council to provide you with an assessment of your eligibility for financial assistance. As a general rule, anyone with assets that total £23,250 or more are not eligible for assistance and will be required to fund their own long-term care.
  2. Look for assistance in other areas as well. There are a number of charities that fund long-term care costs if you are not eligible for assistance and you have no relatives that can help you to pay for these fees. Applying to charities is not restricted so you can apply to any third party that you want. Keep in mind however that charities focusing on retirement or long-term care issues are the most likely to offer assistance.
  3. Make sure that you understand your benefits and that you are receiving all of the benefits to which you are entitled. Attendance Allowance and Pension Credits can help to offset long-term care costs. Make sure that you check to see if you are eligible for benefits and that you know how much benefit amount you are entitled to.

 

 

This article was written by Cheselden Continuing Care, the leading review specialists of care home claims in the UK. Visit us at cheselden.co.uk to learn how to cope with or avoid care home fees.