With the passage of time our parent’s age, their needs and requirements are best fulfilled by care homes. Care homes are the most suitable places to take care of their health needs when they can no longer live unaccompanied. However, an aspect that concerns most families is that they also cost a fortune.
Everyone wants their parents to experience the highest possible quality of care, but practically the affordability factor has a significant impact on that. Your funds are greatly impacted when paying for something as long term as your parent’s care home in Nuneaton.
Legally, you are not in charge of paying for your parent’s care home until or unless you have any joint asset or have signed any contract with the care home. Your money is yours, and no one can claim it if you haven’t signed any joint agreement with any authority.
So, if you find yourself in a situation like this and are concerned, it’s essential to know whether you are obliged to pay for the fees or not. Let’s dive into the plethora of critical points you ought to keep in mind.
When are you obliged to pay care home fees for your parents?
Generally speaking, you are not obliged to pay for care home fees; the same goes for relatives, parents, and partners. However, if you have signed a joint asset with the person treated by the care home, it might be a problem for you. The savings and property you own will get affected by it.
It’s easy to see why people are concerned about paying for care homes as the cost of staying is £738 per week, and the average stay is about 66 weeks. But since the best quality of care is offered in these homes, downgrading to save fees isn’t exactly a viable option.
Who can help you in this matter?
Three bodies are obliged to pay for care home fees; the person who needs care himself, the local authority, and the health authority.
If the person who needs care does not have enough savings, assets, or any possession, their fees should be paid by the local and health councils. If your parents possess savings or investments of more than £14,250, they are asked to contribute to the care home fees.
Seek help from NHS
If your parents or any loved ones (filial relationship) requires health assistance from the care home, NHS can pay out the bill. However, the NHS can only provide its service when your parent is qualified for that; your parent’s health is to be assessed by the medical experts to know if the condition is severe or not.
If your parents don’t possess any means to contribute to the funding of care home fees through financial assessment, NHS is likely to pay the total nursing fees of your parent’s care home.
Having to pay fees is one of the most daunting factors when it comes to moving your loved one into a care home. If you are willing to hand out or possess enough savings to help your parent’s fees, then you can contribute. However, it is not by any means an obligation.
It is in your best interest to seek advice from a professional financial advisor in this matter before making a final decision.