Understanding the financial side of care
Planning care for yourself or a loved one can feel overwhelming, especially when it comes to finances. At Grand View, we know how important it is to make decisions with clarity and confidence. That’s why we’ve outlined the main options and support available to help guide you.
Who pays for care?
Care home fees vary depending on the level of care, location, and services provided. In England:
- Self-funded – If your savings and assets are above £23,250, you will usually need to cover your own care costs.
- Partially or fully funded – If your savings fall below this threshold, your local council may contribute following a care needs and financial assessment.
Some councils also offer deferred payment schemes, where they help with fees upfront and reclaim costs later.
NHS funding
For those with more complex health needs, the NHS may provide:
- NHS Continuing Healthcare (CHC) – Full funding for individuals with ongoing, complex medical needs (subject to an assessment).
- NHS-funded Nursing Care (FNC) – A contribution towards nursing care within a care home for those who don’t qualify for CHC.
Benefits that may help
Even if you’re funding care yourself, you may still be entitled to financial support, including:
- Attendance Allowance – For people over state pension age needing help with personal care.
- Personal Independence Payment (PIP) – For those under state pension age with daily living or mobility needs.
- Pension Credit – A top-up for low-income pensioners.
- Council Tax Reduction – Possible discounts for people receiving or providing care.
Private funding options
If you are self-funding, there are different ways to help manage costs, such as equity release, care annuities, or investment plans. Independent financial advice is recommended to explore the best option for your circumstances.
Where to get support
- Age UK – Guidance on benefits and care funding.
- Local councils – Care needs and financial assessments.
- Citizens Advice – Free, impartial advice.
- Independent financial advisers – Specialists in care funding solutions.
How Grand View can help
We understand that financial planning for care can feel complex. Our team is here to offer guidance, answer questions, and point you towards trusted experts who can provide tailored financial advice.
At Grand View, we want every family to feel supported, informed, and confident in their decisions.
Call us on 01780 668118 to find out more or request a brochure.