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NHFA Help the Aged Care Fees Advice PowerPoint Presentation
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NHFA Help the Aged Care Fees Advice

NHFA Help the Aged Care Fees Advice

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NHFA Help the Aged Care Fees Advice

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  1. NHFA Help the Aged Care Fees Advice NHFA & Help the Aged Care Fees Advice Gaynor Abrams Business Development Manager

  2. NHFA Help the Aged Care Fees Advice • Established in 1991 • Leading Care Fees Advice specialist since 1991 • Independent • Part of HSBC Group since July 2005 • Help the Aged Care Fees Advice since 1996 • Advice line – 0800 99 88 33

  3. NHFA Help the Aged Care Fees Advice Provide information and advice to: • Care home providers • Alzheimer’s Society • Carer groups • Charities Nottinghamshire County Council Self Funding Project • 2 year project • Raising awareness to self funders through Welfare Rights, social workers, support groups Three joint conferences in March to other Councils to share best practice

  4. Are people seeking advice? • Ageing population • Increasing demand for Care • Research carried out showed:- • 94% older people making no financial plans for long term care • 51% didn’t know care is means tested • 60% exceeded means test limit • 40 / 70,000 homes sold each year to pay for care • Circa 6% accessing specialist advice

  5. Why the need for specialist financial advice? Specialist qualification • Stipulated by Financial Services Authority • CF8 Long Term Care Insurance qualification • Ensures knowledge of legislation, care system and available benefits • Out of 43,000 IFAs, only circa 15% are qualified Financial advice shows: • Affordability of chosen care • Enables care fees to be paid for as long as possible • Ensure all available benefits claimed

  6. Benefits to self funder and care provider • Improve outcomes for Self funder • Where possible to pay fees for life without running out of money • Leave an inheritance • Maintain dignity • Care provider • Where possible, guaranteed fees paid • Peace of mind for resident, family and care home provider

  7. Questions?