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The Nursing Homes Support Scheme commenced on 27th October 2009. The Nursing Homes Support Scheme offers financial support for people requiring long-term nursing home care. The operations of the scheme results in an individual making a contribution towards the cost of their care and the State pay the balance. The scheme is applicable whether the nursing home is public, private or voluntary. Individuals who are assessed as requiring long-term residential care will undergo a financial assessment carried out by the Health Service Executive (HSE).
The Financial Assessment looks at your income and assets in order to work out what your contribution to care will be. The first €36,000 of your assets, or €72,000 for a couple, will not be counted at all in the financial assessment. Where your assets include land and property, the 5% contribution based on such assets may be deferred. An optional benefit of this scheme is that instead of the individual making the contribution to the Nursing Home, if approved, the HSE will pay the money to the nursing home on your behalf. It is effectively a loan advanced by the State which can be repaid at any time but will ultimately fall due for repayment upon your death.
The benefit is that you don’t have to sell assets such as your house during your lifetime. Revenue are responsible for collection and recovery of monies advanced by way of ancillary State support. When monies advanced become due, the HSE will notify the person responsible as well as notifying Revenue of the amount due. Revenue will then contact the person to make arrangements for the payment. The legal term for the Nursing Home Loan is “Ancillary State support”. For those individuals already in long term nursing home-care before the scheme starts, a commitment has been given that these individuals cannot be made worse off by the scheme.
Full details of the scheme can be found on the Department of Health & Children website www.dohc.ie in the information and booklets section. For those individuals aged 65 and over, further exemptions and reliefs maybe available in respect of deposit interest, special savings accounts, social welfare pensions and PRSI & levies. Contact CACM Accountants on 021 4217474 for further information.
CACM Accountants strive to offer the best possible service for its clients. With vast business experience, across many business sectors, we will always keep our clients at the heart of our firm.
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