If you have savings and investments above £23,250 (not including your own home) you won’t be eligible for financial support from the Council towards your care and support costs.
Even if you are responsible for paying the full cost of your care and support, you may still be entitled some free services – including:
Adult Care Services can give you information and advice to help you arrange your care and support privately, or you can find your own care and support – such as using the Reading Services Guide to find suitable providers that can meet your needs, or you could contact an independent care advice service such as My Care My Home.
Alternatively you can ask Adult Care Services to manage your care and support arrangements on your behalf – Adult Care Services arrange care and support to meet your unmet needs (as identified in your care needs assessment) and we ask you to agree, in writing, to pay the full cost of your care and support plus arrangement fees (to cover some of the administration costs of arranging and monitoring your care and support).
If you have savings and investments above £23,250 (not including your own home) you must pay your care home provider directly. You may be able to claim Attendance Allowance or Personal Independence Payment.
Get information and advice on options to meet your care needs: Adult Care Services offer free information and advice to discuss your needs and help you identify suitable care homes or other care and support options that may be available to you. Or you could contact an independent care advice service such as My Care My Home or find your own care homes – such as using the Reading Services Guide.
If you might need help with funding your care home fees in future (if your capital reduces to below the upper capital limit) – check that any care home you are considering would contract with the council* when your capital reduced (*this would be the local council with adult social care responsibility for the area where the care home is).
If your preferred care home won’t contract with the local council at a rate that the council is prepared to pay to meet your needs, you will need to arrange a third-party (family member or friend or charity) who is willing and able to pay the difference between what the council would pay and the fee being charged by the care home, otherwise you may have to move to another care home. See our choice of accommodation and additional payments policy.
If you are responsible for the full cost of your care home fees, but most of your capital is tied up in a property that was your main and only home you may be eligible to apply for a Deferred Payment Agreement (DPA) with the Council.
A DPA is a kind of loan which allows you to delay the need to sell your property during your lifetime. The loan must be repaid in full when the property is sold or from your estate.
A DPA is just one type of care-home funding arrangement and you should always seek independent financial advice before making decisions about how to fund your long-term care.
If you are in the process of applying to become the legal financial representative of someone who can’t enter into a DPA because they have lost the mental capacity to manage their money or make financial decisions and you can’t yet access accounts or funds to pay their care home fees you could apply for an Interim funding arrangement.
This is a short-term loan which must be repaid as soon as you are granted the legal authority to access their funds unless you immediately enter into a Deferred Payment Agreement.
You should always seek independent financial advice before making decisions about how to fund your long-term care.
You may become eligible for financial support from the local council to help towards your care and support costs. How much financial help you get depends on the outcome of:
If your savings are approaching £23,250, and you live in Reading Borough, contact Adult Care Services about three months before you think your savings will drop to below the upper capital limit to request a care needs assessment.
The government plans to increase the upper capital limit in England from £23, 250 to £100,000 from October 2023.
If you no longer live in Reading Borough (for example, you moved to a care home in another area and have been self-funding there), contact the local council for your area which has adult social care responsibilities.
Before you make decisions about how to fund your long term care it is important you get clear information and unbiased advice about your financial options. Some independent financial information and advice is available free. Specialist independent financial advisers often charge for their time, but provide detailed knowledge and advice tailored to your situation about your options on paying for long-term care. Finding independent financial information and advice.
Even if you’re able to manage your money yourself now, it is important to plan and put legal arrangements (e.g. a Lasting Power of Attorney) into place about who would make decisions about your finances, property and manage your day to day financial affairs, if you were to lose mental capacity to make decisions about your financial affairs in the future. Mental capacity to manage finances.