Paying for any type of care, regardless of someone’s age, can be an expensive thing to do. Often, the care that is needed is so specialized that it can only be done by specialized carers or nurses. No matter how old or young you are, it is always good to know how much you can expect to pay for care. If you are elderly, it is important to know whether or not you will be able to afford care on your own. If you are younger, you may be expected to pay for a family member’s care or want to plan accordingly should something happen to you.
The Anticipated Costs of Caring
or the costs of care homes vary but a good indication of what you can expect to pay was given in an article in the Independent (Macerlean, 2010) who says that the average weekly fees at a residential care home in the UK are $479 and $669 that makes it $24908 per annum for a care home and about $34,788 for a nursing home. This can be quite scary if you are expected to pay for someone else’s care. However, if the person in need of care is deemed to have less than $14240 in capital assets, he or she will not have to make contributions from their capital. Income and benefits will however be assessed and most of it will have to go towards care. It is, however, good to know that the government is willing to help you out. If the local council the individual lives in is expected to contribute towards care, everything except a small personal expenses allowance will be used to fund care.
Who pays for care?
If you have an elderly parent who needs care and cannot afford the right care, you may want to seriously consider contributing some of it yourself. They have raised you and taken care of you when you were young, so it is no surprise that many do this for their parents. If you can’t afford, the government has programs which assist the elderly as well. You may need to do some good research first before you can choose the best home care scheme.
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