Fair Deal Nursing Home Scheme: The Financial Support For Needy

 

Do you or someone close to you need to go into a nursing home? Dealing with financial issues in such a time can be very stressful, especially if you are a senior citizen, a pensioner, or a farmer. Perplexed about how to afford long-term care in the nursing home? Well, applying for the Fair Deal NursingHome Scheme can be the ideal way to manage your care.

The Fair Deal or the Nursing Home Support Scheme (NHSS) is a financial grant for Irish citizens who need long-term care. Administered by the HSE, it is an Irish government scheme where the resident needs to make a contribution towards the cost of care, and the State then pays the remaining amount. Under this scheme, the kind of care appropriate to the individual along with the bed & board, laundry service, and certain therapeutic activities, is covered.

The article below breaks down everything you need to know about this scheme.

Is It Compulsory To Apply For Fair Deal Funding?

No. There is undeniably no obligation for individuals to apply for the Nursing home support scheme. Every individual and his/her family can choose to pay for the care on their own. The NHSS provides an option for Irish families to seek residential care by applying for Fair Deal Nursing Home Scheme and share the cost of it with the State.

How Is A Resident’s Co-Payment Calculated?

The HSE calculates the individual’s co-payment from- 

·         7.5% of the total value of assets per annum (assets that were transferred for less than 5 years before applying for the scheme are included), and

·         80% of annual income (rental income, pension, SFP, etc.)

When Does The ‘3 Year Limit’ Apply?

In some circumstances, the 3 Year limit or the cap of 22.5% of chargeable asset value is applied to small business assets or farm. This applies in circumstances like-

·         Where the individual has suffered an unexpected disability or illness, that causes them the need to avail long-term care;

·         Where a successor in family certifies that he or she will continue the management of relevant business and the farm; and

·         Where the resident or their partner was actively engaged in the daily management of the farm until the time of the sudden disability or illness.

Will You End Up Paying More Than The Cost Of Your Care Due To Assets?

No, having assets doesn’t mean that you have to pay more for the cost of your care. The nursing home support scheme cost of care you contribute depends on the length of the time you are availing nursing home care and the total cost of your evaluated contribution. Individuals in receipt of the financial support under the Irish government scheme do not have to pay more than the cost of care in respect of their long-term residential care services.

How Can Skilled Financial Advisors Help?

Applicants cannot apply for the fair deal funding for their nursing home care before receiving approval of their application. But, making the fair deal application can be a daunting process and it is here that professional financial advisors can come to your rescue. From guiding you step by step while applying for the scheme to assisting you in completing the application, experts can help you throughout the process.  Experienced specialists can even help you with one to one consultations.

Postscript:

The fair deal application is made to the local nursing home support scheme office on the standard application form. Seek the advice of qualified financial advisors for a hassle-free application and get approved for the financial support quickly!