There are numerous types of financial funding for residents in care homes. Understanding these funding options is crucial for individuals and their families navigating the complexities of long-term care.
Local authority funding
Local authorities play a significant role in funding care for eligible individuals. They conduct means-tested assessments to determine an individual’s financial capacity to contribute to their care costs. If an individual’s assets fall below a certain threshold, the local authority may cover some or all of the care home costs.
NHS Continuing Healthcare
For those with complex healthcare needs, the NHS offers Continuing Healthcare funding. This fully covers the costs of care, including accommodation, for individuals deemed eligible through a thorough assessment of their health and care needs.
Self-funding
Our residents choose to self-fund their care. This means they cover the entire cost of their care without financial assistance from the local authority or NHS. Individuals with savings, investments, or property assets may opt for self-funding.
Pension income
Many residents rely on their pension income to contribute to their care costs. This can be a combination of the state pension, workplace pensions, and private pensions.
Charitable funding
Some charitable organisations in the UK provide financial assistance to individuals in care homes, particularly for those facing financial hardship.
