As part of the assessment of your support needs we will need to look into your finances to find out whether you should pay towards the cost of your care. This guide gives you information on how the financial assessment process works.
Financial assessments
Learn how financial assessments for care work, what documents you need, and how your income, savings, and home affect what you pay for support.
Getting assessed for financial support
First you’ll need to have a needs assessment. If this assessment shows that you’re eligible for support, you’ll then be offered a financial needs assessment. You can also request one by contacting the financial assessments and benefits (FAB) team on 023 9268 8199.
You’re welcome to have someone with you at the financial assessment. If you’d like the support of an independent professional advocate, please ask us when we contact you to arrange the visit.
Video: Financial assessments
Watch time: 2 mins
How financial assessments work
A member of our financial and benefits (FAB) team will visit you to discuss your options and help you claim any benefits you might be entitled to. We’ll ask to see proof of your income, savings and investments. We’ll also ask about any care and support services or equipment you already pay for.
If you’re going to be receiving care and support at home, we’ll also ask about your housing costs. This includes mortgage or rent payments, and council tax. We’ll need to see copies of bills and receipts for proof.
We’ll then calculate the amount you need to pay towards your care. By law, all councils use the same criteria for financial assessment.
You’ll have to pay the full cost of your care if you:
- don’t meet the national eligibility criteria for care and support and decide to arrange it privately
- choose not to have a financial assessment
- have savings or income of more than £23,250
If you own your home
The value of your home isn’t taken into account as long as it’s the only house you own and you’re going to keep living there. This means that if you’re receiving care and support at home, it won’t be considered part of your savings and investments.
If you move into residential care
If you move into residential care, the value of your home will then usually be taken into account. It could be counted as savings or investments, so if you have more than £23,250 equity in your property then you’re likely to be charged the full cost of your care.
Special cases
In some cases, your home can be ‘disregarded’. For example if you have a partner or a dependent who’s been living with you and is going to keep living in your home after you move to residential care. Read more information about this on the Money Helper website.
Selling your home
If the value of your home is taken into account, you don’t have to sell it straight away, but you can choose to use our ‘deferred payment scheme’. The scheme gives you the flexibility to choose when your home is sold.
What happens next
Once you’ve had both a needs assessment and a financial assessment, if you have eligible needs, you’ll be given a personal budget and a support plan.
Personal budget
A personal budget is the overall cost of care and support that we, as the council, can arrange for you. It sets out how much (if any) you must pay of this and how much we will pay.
Support plan
A support plan explains the services that can best support you and whether they will cost any money. These services include:
- hiring a personal assistant or carer
- helping you stay in touch with friends and family, or make new friends
- going to a leisure centre, learning a new skill or taking part in local activities
- buying support to give your unpaid carer a break from their caring role.
- equipment that we can loan to you.
You can then choose whether you’d like to have your care arranged by us, or if you’d like to arrange it yourself by receiving a direct payment.
Direct payments
A direct payment gives you the freedom to arrange your own care and support. You’re given money on a pre-paid card and can use it to cover some (or all) of the costs of your social care. Direct payments can only be used for care at home. They can’t be used to cover the cost of residential or nursing homes. You’re advised to make a backup plan in case there are any issues with the care you arrange – for example holiday cover.