Paying for your Care – Funding your own care at home or in a care home is a new guide produced by the charity, Independent Age.
About the Guide
The number of people paying for their own care is growing. While some people will qualify for funding from their council, many will end up paying for all of their care. This can be dicult, financially and emotionally, but it’s best to plan ahead and avoid snap decisions. This guide is intended for people paying for all of their own care, and their friends and family.
It also explains council assessments and how they could help you. Whether you’re looking at residential care or need care at home, it’s important to consider your options carefully and
review them regularly. Make sure you’re getting everything you’re entitled to and thinking about what you can aford in the long term. We spoke to older people about their experiences. Their quotes appear throughout.
1. Terms you might encounter 3
2. Getting started 5
3. Home care or a care home? 10
4. The financial assessment 18
5. Getting rid of assets to avoid
paying for care 26
6. NHS help to pay for care 29
7. Ways to pay for your care 31
8. If your financial situation changes 38
Terms You Might Encounter
“Terms you might encounter” is a small section included in the guide and well worth a repeat here. The social care system can be full of jargon. Here are a few words and phrases you may come across:
Social care: Help and support services provided to people who need them, for example because of illness, disability or old age. Social care helps people to carry out everyday tasks, like washing, dressing and household chores – it doesn’t include healthcare. It might be provided at home or in a residential care home.
Personal care: This is one part of social care. It describes help and support with everyday tasks to care for yourself, such as washing, dressing, eating and going to the toilet. It doesn’t include help with household chores like laundry and shopping.
Self-funder: A person who is paying for all of their own care themselves (self-funding), rather than getting financial help from the local council.
Means testing: Looking at your finances to work out whether you qualify for financial help from
the government or local council. Social care is usually means-tested.
Capital: Wealth in the form of money or items that have a financial value, such as savings, investments and property (buildings and land).