Funding later life and care, especially for elderly care can be complex, expensive and unpredictable with changing needs. This section includes information about all the funding options available. We’ve also included a guide to needs and financial assessments which are really important to ensure your parents receive the support they need.
In addition to their personal health circumstances, whether your elderly parents are at home or moving to a care home will determine the available funding for them. If one of your parents cares for the other then there are options as well. The short version of all the available funding is as follows:
Funding later life at home
Attendance Allowance – This is for people over 65 who need help with social care – washing, dressing or eating- due to an illness or disability. It is available for those who need to be looked after by day, and/or overnight in case help is needed.
Disability Living Allowance (DLA) – for anyone aged over 68 in 2015, re-named as Personal Independent Payments (PIPs) for anyone under 68, these can help with some of the extra costs of personal care or mobility due to a long-term illness or disability
NHS Continuing Care – NHS Continuing Care is care that is arranged and funded by the NHS free of charge outside of hospital. It is available for people who need ongoing healthcare and meet certain criteria
NHS Intermediate Care – NHS intermediate care is free temporary care at home for 6 weeks following a stay in hospital, or to enable the person being cared for to stay at home following an emergency breakdown in care services.
Local authority grants – Can be given if you need assistance at home with daily living and your individual financial assets fall under a set amount.
Carer’s Allowance – If you care for someone and meet some strict criteria then you may be eligible for a carer’s allowance.
Carer’s Credit – You can also earn Carer’s credits to help with the financial issues that may come with being a carer.
Constant Attendant Allowance (only available for those with a war pension or suffering as a result of an industrial accident)
Care home funding
Local authority payment – This can be used to also help for funding a residential care home, it is a means tested payment service.
Attendance allowance – If there is no Local Authority or NHS funding contribution then you may be eligible for attendance allowance funding.
NHS Continuing Care – As described above, It can be used for funding later life and care at home and at residential care homes
NHS funded nursing care – As the title shows, you can receive nursing care which is funded based upon what your care needs are.
Our first section is Getting your parents needs and finances assessed which outlines why assessments are a good idea, how to get one, and what happens once you’ve got one; we explain Care Home Fees before exploring some of the options around both Funded Care and Self-Funded Care.