If you have an elderly parent or spouse and are considering having to select a care home, perhaps because you are no longer physically or emotionally able to cope with their increasing level of need, then what factors should you bear in mind?
Residential care for the elderly is widely available – local authorities and private companies offer residential care homes to choose from that offer a range of facilities and on-site care. Of course, the issue of how much the care home costs should be irrelevant – you should be able to choose the right residential care home for your loved one that will meet their individual needs and be in the ideal location for you and their friends to visit. However, that’s not exactly realistic – of course cost comes into the equation. Unless you are extremely wealthy and don’t need to worry about money then you cannot always pick and choose your care home based solely on other factors.
There is a balance to be struck between finding the right level and kind of care and the cost of the residential care home. The sad fact is that if your loved one has worked hard all their life to build a nest egg or buy their own home, then they may not be entitled to any support with the cost of residential care homes from the Local Authority – and if they access Local Authority care then their assets will be gradually stripped to meet the cost of that care until all they are left with is around £24,000-worth of assets. That can mean having to sell your loved one’s home, which might have been theirs since they were very young.
Those assets will run out quicker if a more expensive care home is chosen. After the assets are gone, will you be able to afford to ‘top up’ whatever help the Local Authority offers towards the costs, to meet the fees of your preferred care home? The worst case scenario is perhaps having to move your loved one from one care home to a cheaper one after their assets have depleted simply because the family can no longer afford to pay the fees.
So when choosing a residential care home it is worth thinking about the long-term affordability of your preferred home. Also consider the location – will you and your loved one’s friends (some of whom may be frail or unable to travel far) be able to visit frequently? Check out waiting lists and see whether it is feasible to wait for a place to become available at your preferred residential care home.
Ask your preferred home whether they will allow your loved one to try living there for a short period to be sure that you are all making the right decision, and that the care home you are trying out is the right one for all of you.
Make your choice of care home based on a realistic knowledge of the short, medium and long term costs (to your loved one financially, and in terms of health and happiness).