Will the NHS provide my Long Term Care?

Long Term Care

On some occasions Long Term Care is provided and funded by the NHS or alternatively by your local authority. However, depending on your eligibility and financial circumstances you may be expected to contribute to the costs associated with your care. This may seem complicated but it’s worthwhile understanding should you or a loved one require home care, elderly care or nursing home care.

The average residential care costs approximately £28,500 a year in the UK with additional costs if nurses are required. The cost of 24–hour home care is even higher. If you are expected to cover these costs, it is necessary to assess your options to know what long term care benefits you’re eligible for.  

Take Control

For those with serious long–term healthcare issues, NHS continuing healthcare is available if you qualify for care and funding.  If, however you don’t fall under this category there are ways to reduce your LTC costs:

1.     Talk to an Adviser – If you’re in any way concerned about your future or the future of your loved ones then seek guidance and advice. By discussing your expectations in line with your finances your long term care specialist will help outline options available to you. Allowing you to plan effectively.

2.     Claim Benefits – For those who qualify for self–fund long term healthcare there are benefits available claim. The likes of Attendance Allowance and Personal Independence Payments will help provide funds to support you.

3.     Buy Younger – Premiums for Whole of Lie policies with Permanent Total Disability increase along with your age so it’s best to invest younger rather than later to get a better rate. Although it is worth noting that insurance policies can increase over time so it’s important to review yours from time to time to ensure you continue to get the best rate.

If you’re new to the concept of Long Term Care check out our beginner’s guide for further information. Or to assess your eligibility get in touch with one of our financial experts today.