Self-funding
If you have savings or assets worth more than £23,350, or your income is more than the cost of your care, we'll expect you to pay the full cost of the services you receive directly to the provider as a private transaction.
If you're receiving services in the community, the value of your home is ignored but any other property will be included in the financial assessment. If you enter residential care on a permanent basis, the value of your property will be included in the financial assessment unless your partner remains at home or it is occupied by a dependant.
Even if you don't qualify for financial help from us, you're still entitled to a care needs assessment. Our brokerage team can help you to find a service to meet your requirements.
Non-residential care services
If your care needs assessment confirms you need help to remain at home, we'll complete a community contribution financial assessment to determine what you and we will pay towards non-residential services such as home care, day care, direct payments or respite care.
The self-funding thresholds apply.
Residential care services
If your care needs assessment determines your needs would be best met in a residential setting, we'll undertake a financial assessment to calculate how much you will need to pay towards your care and what we and the NHS might contribute towards the cost. The self-funding thresholds apply.
Details of the financial assessment process can be found in our paying for residential care information leaflet attached to this page. If you own your home, please also see the information about our deferred payment scheme in our paying for residential care section.
Independent financial advice
Planning your future care and support needs can be complicated and funding can be expensive. Taking professional advice may help you and your family to identify the most suitable and cost-effective solution.
The Care Act 2014 requires councils to provide residents with information and advice about care charges and to signpost people to sources of independent financial advice.
Many organisations will provide free, general advice about the funding of care and support. These are a good place to start if you are looking for information and want to see what sort of options are available to you:
Buying independent financial advice
We work with Trading Standards to ensure that there are a number of financial advisors available in Derbyshire that can help you look at financial options and work out what would best suit you.
Search for independent financial advisors that are members of our Trusted Trader scheme.
Advisors can provide information about a wide range of financial issues including:
- purchasing an immediate needs annuity
- renting out a property
- equity release
- savings
- investments
- deferred payment agreements
Advisors will charge you for their services.