Fair Deal Scheme: The Ideal Support For Growing Old In Ireland

 

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 1^st July 2009 and later introduced on 27^th 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.