Helping You Plan For Your Parents’ Care Costs

When the realisation that your parent is going to need care hits you, it can often leave you feeling extremely sad not to mention worried. Even as far thinking about Los Angeles funeral services, that can be frustrating. Sad, obviously because your parent is no longer able to care for themselves properly and this is a horrid fact of humanity, when we realise our parents’, and therefore our own, mortality.

Worry also hits you for a number of reasons since there is a lot to consider, such as what type of care they are going to need, if they can still live at home or have to go into a Huntington Beach health center or care facility, how they will be treated by their carers and also how much their care is going to cost.

Care costs can be extremely extravagant or reasonable depending on which care option your parent has chosen or is eligible for. It is therefore extremely important to start planning about how the cost of your parent’s care is going to be dealt with in advance, since the more prepared you are, the less likely you are to be stressed about the costs.

Step 1: Find out how much care costs
If you have discussed care preferences with your parent, then it is important to find out how much their preferred care options are going to cost in advance of your parent actually needing them. This way, you and your parent can work out exactly how much money is needed. To start you off and give you an idea:

A long-term residential care home will charge approximately £28,367 a year. This amount will vary depending on where you are located in the UK and is notably more in the South-east.A care home which provides nursing care costs more, at approximately £38,376 a year.

Step 2: Be aware of your parent’s assets
It is important to know exactly how much all your parent’s assets add up to since this can have an effect on how much help your parent can get from their local authority. For instance, in England if they have assets totalling more than £23,250, then they will have to pay their own care costs.

It is important to keep in mind this figure does include the value of their home, unless there are still dependants living in the home, or a spouse. Your parent will only be eligible for maximum local authority financial support if they have assets below £14,250. This is all worth knowing now so that you are not shocked when it comes to organising care for your parent.

Step 3: Keep up to date with Government initiatives/ bills
Care of the elderly is always a point of contention in Parliament and most recently you may have heard of the Care Bill. This is a bill, due to come in from 2016, where a cap on the maximum amount anyone has to pay towards their care home costs will be £72,000. However, again, it is worth noting that this is only for those being cared for in a care home and will not help those who receive care in the comfort of their own homes.

Step 4: Look into the help your parent can get from their local authority
In addition to being assessed on their assets, your parent can also be assessed on their mental and physical state of being, which can entitle them to elements of healthcare funding. For instance, if your parent develops a severe illness, you should look into the Continuing Healthcare Funding NHS scheme. Your parent will need to be assessed by their local primary care trust, who will determine their eligibility.

You should also look into Attendance Allowance, which is not means tested and is where your parent might be eligible for funding if they need help with eating or bathing (either in their own home of care facility). It is also worth getting in contact with your parent’s local age charities, since they may offer some elements of free care, i.e. shopping for food, delivering meals, cleaning etc.

After thinking about your parents care, you also need to think about how they can rest well. You probably have to think about how to pay for other additional expenses for funeral services and other cremation scattering services.

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Laura writes for Extra Mile Care. When not writing, she can be found helping her parents with their monthly bills.

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