The cost of UK social care and how to pay for it
Social care in the UK is something that as we age – or our family does – will be on our minds. The rising cost of social care is an issue that may affect us all one day and that is in both the private and public social care sector. There are a range of different social care options for adults in the UK and also a range of ways to pay – which is what we go into in this post.
How much does adult social care cost?
The cost of adult social care can vary wildly depending on which option you choose, but also on the personal circumstances of the person needing care too. Here we look at some of the different adult social care options and how much you might expect to pay.
Residential care homes
There are various factors which might affect how much you pay for a residential care home. This can change depending on if you’re self funding, have help from the council or own your own property / the amount of savings you have. It can also vary from place to place, so location makes a difference. In the UK, the average cost of residential care is £1,160 a week. You can get more information on costs of care here.
Home care
The other option in adult social care is getting care in your home – through carers visiting once or several times a day, or even having live-in carers round the clock. This is generally cheaper than living in a care home. According to the NHS website, carers are usually around £20 per hour or £800 a week for live-in.
How to pay for care
When it comes to options in paying for care, there are various things you can look at – from crowdfunding to support from your local authority. Here, we take a look at the different options. You can also take a look at our blog post here on financial help for seniors.
Apply for support from your local authority
It’s always good to do research on what support you might be able to get from your local authority when it comes to care costs. There are certain conditions that you need to meet to qualify for support, such as being under the threshold for savings. You can have a look on how to apply for local authority support for adult social care here.
Use your home as capital
Using your home (if you own it) is a popular way to pay for adult social care. Getting equity from your house can provide a chunk of money to help to pay for expensive care, and the property may also be included in the financial assessment when it comes to seeing if you qualify for local authority support for adult social care – so selling may be the best option. You can read more on the NHS website here.
Immediate needs annuities
An immediate needs annuity is designed to cover the shortfall between your income and the care for the rest of your life, if you have one. You invest a lump sum up front and then the annuity gives you an income for the rest of your life.
Personal Independence Payment (PIP)
PIP – or Personal Independence Payment – is a benefit available for those who have a long term disability or health condition, and if you have difficulty getting around or performing certain tasks because of this. These are the two parts that are assessed for PIP. You can read more about how to apply here.
Attendance Allowance
Attendance Allowance is a payment which helps with the extra costs if you have a disability severe enough to need someone else to help look after you. It’s paid in two different rates depending on need – £72.85 or £106.55 per week. You could be eligible if you’re state pension age or older, or have a physical or mental disability. You can read more about applying here.
Crowdfunding
Another option to help cover the cost of your adult social care could be crowdfunding. It’s easy and free to set up a GoFundMe and would be easy to circulate and keep the link open so that friends, family members or loved ones can donate as they wish. You can read more about how GoFundMe works here.
Support from charities
Under some circumstances, you might be able to get help from certain charities for your adult social care. One of these is the RAF Benevolent Fund. Another organisation which may be able to help with adult social care is ADASS.
NHS Continuing Healthcare
If you have a health problem or condition which requires support from live in carers or residential social care, you may be eligible for NHS continuing healthcare. This means that it’s free to you and funded by the NHS. We have another post on NHS continuing healthcare here if you’d like to learn more.
How to start crowdfunding to cover costs of care
It couldn’t be easier to start crowdfunding on GoFundMe to cover the costs of care. GoFundMe is a custom-built crowdfunding platform, meaning that it’s easy and intuitive to use with features such as updates and being able to easily thank your donors. There are a few easy steps to take to get going.
- Start by working out how much money you need to raise to cover the costs. If you have more than £23,250 saved, you will not be eligible for financial support from your local authority.
- Set up a fundraising page and provide as much information as possible about why you’re raising money, to help engage potential donors.
- Regularly update your fundraising page, saying thank you to the generous people who have contributed or letting them know how you’re doing.
- Share your fundraising page with family and friends so they know that it exists.
If crowdfunding for your social care seems like a good option for you, it’s easy, fast and free to start your GoFundMe today.