When a loved one gets older, they can often need some care and assistance. However, care homes aren’t cheap, and this can put a financial strain on everyone. How do you find a solution that is effective and affordable?
There are two main differences between the majority of care homes – you’ve probably heard of the two terms ‘residential’ and ‘nursing’. Residential care homes consist of fundamental support. Help will be offered, if needed, with bathing, dressing, and moving around. Not only that, but you can expect dinner to be provided to you too – no need to worry about washing the dishes!
In terms of nursing homes, this sees support staff approach their duties with a more hands-on attitude. Residents’ care needs will vary greatly, and some people may also require some level of medical support. Nursing staff provides this additional support for a number of reasons. It may be that the person is not able to do tasks that many of us take for granted while, for others, it may be that they need consistent reminders of what they are doing. Those who suffer from dementia are usually supported at a nursing home. However, there are homes that also offer both these services – meaning that care can be stepped up or stepped down when, and if, required.
Weighing Up The Finances In Your Quest For Care Homes
Money is a big issue for a lot of people when it comes to getting good aged care. Remember, a care home is not your only option. Look into home care, as this cannot only be more affordable but a preferred choice, as it enables the person in question to stay in the comfort of their own home and hold onto their independence.
It is also worth speaking to an advisor. If, for instance, your adviser saw a shortfall in your income, they may be able to identify specifically designed financial products that can help cover the cost of care. These costs would be repaid via any inheritance money at a later time and date.
It is unwise to choose care homes that offer more than you need. This is because, even though a local authority may be willing to fund a gap in your income, they may also turn around and find the gap too much for them to plug. In this instance, you would have to find a third-party to help. After it has been assessed that you need a care home place, you will undergo a financial assessment to work out if you are entitled to monetary support towards your favored care home. If you follow all this, you will save yourself a stress-induced headache in the future when you scramble around, either as a resident or family member, to try and find new accommodation because you were unable to fill an income gap. Choose wisely, just as you would on the housing market.
So there you have it: some options when it comes to the financial strain of aged care. Remember, there are a number of options available, so assess them carefully to make your mind up.