What is the difference between Residential and Nursing Care?
Care linked to a medical condition, rather than a long-term disability or old age is supposed to be free and paid for by the NHS. But the boundaries can blur and many families struggle to get the NHS to pay. How much is Long Term Residential Care? This can vary widely from county to county and from home to home. Some annual costs can be as high as £50,000 p.a. Unnecessarily paying such massive fees can anger many elderly people. How can this be paid for? Broadly speaking, anyone with assets of £22,250 or more is expected to pay for their own care on a means tested basis. Payment can be by any of the following: • Savings (excluding the first £22,250) • Long Term Insurance Care Plan. • Selling the family home Is there a way to avoid having to sell the family home to pay for Long Term Residential Care? Yes there is! A couple can set up a Property Protection Will which would ensure that when the first person died, 50% of the property value would be left not to the survivor but to other ben