Care Fees Advice
We are here to advise if you need help understanding how to pay for care, if you are dealing with yourself or a family member, wanting care at home or in a nursing home.
What Does A Good Financial Adviser Do?
The first thing is to work out whether you do need to self-fund care fees. Sometimes the approach by local authorities, the NHS and the care homes can be to charge fees, without having conducted the correct assessments.
If you might benefit from specialist help to check whether any fees have been correctly billed, we will introduce you to "My Care Consultant" (founded by Jacqueline Berry, pictured above) who is one of a group of specialists referred to as ‘Care Navigators’. Their purpose is to provide a safe space to help those in need of care, their family, carers, or their legal representatives, to find quick, accurate answers to the many questions that arise when someone needs care.
They understand that for many people the complexity of the UK's social and health care system means that getting answers to the many questions that arise can be difficult, frustrating, and stressful. No matter what stage of the journey you are at, from planning ahead for potential future care needs to arranging an immediate need for care, My Care Consultant will help you to understand your options and entitlements, and establish a clear route forward.
My Care Consultant offers a free, no-obligation 15-minute telephone consultation for new clients to answer some initial questions and help you with some first steps. Thereafter they can offer more comprehensive fixed priced services.
For any self-funding clients in need of a recommendation relating to the best way or combination of ways to pay for their care from the 9 options available, our role at Chestnut Financial Services is to provide a recommendation regarding the best way to pay for care.
More than just care fees planning, we give broad advice to make sure our clients feel in complete control and have planned their finances with absolute confidence.
What Can The State Provide?
There are some facts that even though either the NHS (the hospital or the GP) or social services may say you are not entitled to, you are in fact legally entitled to them!
- If you have care needs when discharged from a hospital, the NHS should be paying for the cost of them for the first 6 weeks, or until they have undertaken an NHS Continuing Healthcare (we call them NHS CHC) assessment.
- NHS CHC assessments and local authority care assessments are conducted free of charge and everyone has a right to a care needs assessment regardless of their circumstances. They only relate to your healthcare and not social care needs. However, there is no mean-test. There are circumstances when an assessment won't be done but I can advise better if I know your personal circumstances.
- Have you felt like you were fobbed off when trying to get a NHS CHC? Did they say there was no need for one because the medical needs didn't fit (sometimes that will be said of a dementia patient) or that you had too many assets (such as a house) - then it is highly likely they are wrong and you are entitled! That is particularly the point where My Care Consultants might be very useful for you.
- If you have been turned down for NHS CHC following a full assessment, you may still be eligible for NHS funded nursing care instead.
What Support Can I Get From the Local Authority ("LA")?
The LA will conduct a care needs assessment, following a list of questions to identify what your care needs are. If you are eligible then they should provide you with a copy of the agreed care plan.
The LA will then want to do a means test (a financial assessment) to see if you can pay for the agreed care plan. The LA can’t charge for the first six weeks following hospital discharge or up to £1,000 of adaptations. There are other rules but it might be best if you let me know your personal circumstances before I get bogged down in detail.
There is a Minimum Income Guarantee (MIG) and a Personal Expenditure Amount (PEA) that might apply, which is income that the LA must ignore each week. However, if you have significant income and/or significant savings you could well be told that you have to pay for the cost of care yourself.
You might be entitled to benefits - Attendance Allwance, Personal Independence Payments, Disability Living Allowance and Pension Credit are all good starting points.Can agree a top up with the LA o pay for better care (otherwise will have a financial liability to the care home!)
There are options such as topping up the cost of care with the Local Authority or having a Deferred Payment Agreement, but again, let me know your personal circumstances before I can help any further.
Ian Francis is a fully qualified member of the Society of Later Life Advisers, having demonstrated his professionalism in giving advice for those clients looking to the future and undertaking professional qualifications, as an independent financial adviser.
Ian is also a fully qualified member of the Society of Later Life Advisers retirement advice standard. He has built his expertise with numerous qualifications and professional development each year.
Our Care Fees Advice
We give specialist care fees advice on funding solutions available if you need to self-fund care fees when the NHS or local authority won't pay.
Our care fees advice can help you plan with confidence.
We take the time to understand and advise on what solutions will help.
Ian is a fully qualified member of the Personal Finance Society, since 1994. He has built his expertise with numerous qualifications and professional development each year.
We Answer Your Questions
No matter how seemingly silly or difficult, our aim is to answer your questions and give you confidence about our professional work.
Investing now is all about getting the best life for the future.
Want to read more?
Care fee plans do not guarantee to cover the full costs of the client’s care, care costs are subject to inflation and care needs may increase.
If the cost of care exceeds the income from the plan you will be responsible for paying the difference yourself.
Plans cannot be cancelled or cashed in at any time after the first 30 days.
If the income is paid directly to a registered care provider, the plan benefits from a favourable tax treatment.
Should this tax treatment be changed by HMRC or income be paid to a party other than a registered care provider, some of the income may be subject to tax.
We’re on Unbiased
Unbiased is a database of top-rated professional independent financial advisers, mortgage brokers and accountants. Many parts of the government, such as the Money Advice Service as well as various consumer bodies, such as Which?, and leading investment and insurance companies, refer clients and readers to the Unbiased website, for regulated advice.
The Times VouchedFor’s 2021 Top Rated Financial Adviser Guide
I am humbled and honoured to be recognised by our clients. I am so grateful for the work I do every day and thank you to all who have supported me throughout this incredible journey so far. Our 5-star rating is something we are committed to retaining through high-quality advice and service to all our clients.
Main office address:
10 Newark Road,
Lincoln, LN5 9HA
The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.
Chestnut Financial Services Limited. Registered in England no 9918363. Registered office: Commerce House, Carlton Boulevard, Lincoln, LN2 4WJ
Authorised and regulated by the Financial Conduct Authority No. 840940