Advice about paying for care home fees
It’s important to get professional advice on the best way to fund the cost of care and we suggest that you take advice from a care fees expert to make sure that you have explored all the options available to you.
In order to make life easier we have contacted a national care fees planning specialist, Symponia who are dedicated to the financial issues of later life, in particular the payment of care fees.
Through Symponia’s network of carefully selected and qualified financial advisers they offer you and/or your family member empathic, bespoke advice on the best way to fund weekly care fees. This approach ensures that not only are all our residents and their families aware of the legislation and how it works but they are able to explore all the financial options available to them.
It should be noted that brighterkind and Symponia operate completely independently with no commission or financial benefit to brighterkind as a result of your conversation or contract.
Peace of mind
Seeking advice from a care home fees planning expert could provide the reassurance that you have explored all the options available, confident that you have:
Investigated the best and most comprehensive way to fund the care fee
Investigated and understood the array of mainstream and dedicated financial products
Some of which aren’t available unless you seek specialist advice
Understood the legislation and how it applies to the person needing care
Claimed the appropriate State Benefits and/or NHS funding
Been able to fund the care wanted, not the care perceived to be affordable
The right advice and application of previously unknown solutions makes what may have been thought unaffordable a realistic choice
All funds have been utilised to the full and wherever possible shouldn’t run out
The Symponia handbook, which can be downloaded here gives a useful overview of the service that Symponia offer and includes case studies and practical hints and tips.
Your Next Steps
If you don’t already have a financial adviser experienced in these later life fee planning issues on how to fund the cost of care, you might be interested in meeting up with your local Symponia member.
The advice you get will also take into account whether you need nursing care, palliative care or residential care, all of which are available at Meyrick Rise Care Home in Bournemouth. We suggest that initially you discuss the care home fees with our Home Manager who can then help you to set up a meeting or discussion with the local Symponia member in Bournemouth at your earliest convenience. All first meetings are offered without cost or obligation.
You can contact the Care Home on: 01202 065 319
During the process they will guide you through legislation, take you through how this will affect you and your family and present you with a comprehensive report detailing all of your options.
Even if your final choice is to do nothing, at least you will have explored all the possibilities, and will have made a truly informed decision, whilst weighing up all the facts. We would much rather you explore all your options and dismiss them as unsuitable, than never know they existed in the first place.
The Symponia member available to provide advice to families and residents at Meyrick Rise Care Home in Bournemouth:
The Symponia member allocated to Meyrick Rise is Jamie Rice.
"I have worked in Financial Services since 2008. I initially worked as an Administrator before progressing to providing technical support to Financial Advisers. I now offer comprehensive financial planning, investment planning and tax planning advice to Private Clients.
Over the past 9 years, I have had multiple hats. I am a full-time employee, a husband, a father, a Power of Attorney for my Aunt and carer for my Grandmother. Over the past 3 years, as the health of my Aunt and Grandmother has deteriorated I have had to take a much more active role in helping them through their day to day lives.
I wanted to add the hat of a Financial Adviser, and help people to really understand and navigate the challenges Later Life can throw at them and your family, not just at the time of entry into a care home, but as life starts to become more of a challenge, not just financially but physical and emotionally as well."
All financial advisers within Symponia are not only authorised and regulated by the Financial Conduct Authority and they also hold the recognised long term care qualification of CF8 or CeLTCI.
Each Symponia member can meet with you or your relative at the care home if you prefer. Pop in to see our Care Home Manager and find out more.