With the outbreak of a Novel
Coronavirus taking the world by storm, caring for senior citizens is becoming a
more serious task for both the elderly and their families. In the midst of this
crisis, working from home has become the new normal and thousands of Irish
people are juggling work and elder care with a sick parent who needs attention.
At the top of the caring list is the finance to address the inevitable cost of
caregiving.
Rising costs coupled with
reductions in secondary income supports like fuel allowances, telephone and the
introduction of numerous ‘stealth’ charges for tax, property, and water have
hit the older people very hard. Aging citizens need nursing home care for
numerous reasons since not everyone can afford the live-in expensive home help.
And, applying for the HSE’s Fair Deal Scheme
can be a great way to seek financial support for long-term care.
Here’s an overview of the
Fair Deal Nursing Home Scheme.
The
Fair Deal Act: Explained
The Fair Deal or the Nursing
Home Scheme was brought into Irish law on 1st July 2009 and later
introduced on 27th October in the same year under the Nursing Home
Support Act or the Fair Deal Act. It provides financial support to Irish
citizens who require long-term nursing home care. Individuals can choose care
in any of the nursing homes included in the scheme, provided the nursing home
can cater to the person’s specific needs and has a place available for him/her.
What
Does The NHSS Mean For You & Your Property?
People applying for the Nursing Home Support Scheme (NHSS) will
be assessed by the HSE to establish their financial standing including assets
like any property owned as well as cash assets. Once it is approved, you will
have to contribute towards the cost of care and the State will pay the
remainder.
The
Fair Deal Application Process
There are two stages to the
Fair Deal application process. The first and foremost step is the Care Needs
Assessment that is carried out by the healthcare staff. By looking at the
healthcare needs of you and your family, and the social supports, it will be
determined whether you need long-term care in a nursing home or you can be
supported to continue living at home.
If the Care Needs assessment
shows that you require long-term nursing home care, the Financial Assessment will
work out the amount you will be paying for the cost of your care and the amount
the HSE will be paying. The amount you pay for your care depends on your income
and the value of your assets.
The part concerning non-cash
assets like property is Page 6 or Part 4B of the application. Some information
required here is, of course, the property address along with the property’s
current value. It clearly states that the “Certificate of Market Value” is required
for accompanying the form. Also, you need to include details regarding loans on
property like credit union loans or mortgage payments.
What
Is Considered In An Official Property Evaluation?
1. Property Type
When evaluating
a property’s value, location is everything and thus forms to be a major aspect
when making an accurate appraisal. Homes close to modern amenities like
hospitals, schools, banks, recreational facilities, are the most desirable
locations. So, these properties enjoy a higher price tag.
2. Location
The kind of property you own
will be a key factor when the evaluation is carried out. Houses and apartments offer
different features including the accessibility to a balcony and garden.
3. Aspect
The direction your property
faces can make or break for a house. Among all the directions, the South-west
is the most desired aspect for any residential property since it offers maximum
light.
4. Number of Rooms
Another crucial factor that
can affect your contribution to the Fair Deal Scheme is the number of rooms in
your property. The number of bathrooms, bedrooms, balconies and living rooms
will significantly affect your property’s price.
5. BER
Energy ratings provide a
score that represents the energy your property is consuming. It reflects how
energy-efficient your house is.
6. Parking
Access to underground,
on-street or surface-level parking is another vital factor that several
property buyers have at the top of their list. It has a great impact on the
overall value of a house and is taken into consideration when making the
appraisal.
Bottom-line:
Whether you or your loved
one suffers from an illness, opting for the NHSS scheme can be an informed
decision for all. Need assistance or expert advice on the Fair Deal application process? Approach the renowned financial advisors and be assured of a
hassle-free and timely application process.
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