If assessed separately, Person A will pay 80% of 36k per annum plus 7.5% for any assessable assets, e.g. home etc. As a couple A&B will pay 80% of 36k each and 7.5% of (505k less 72k plus value of home) annually for 3 years. After 3 yrs, it's just 80% of annual pension. This is if both go into a nursing home at the same time.Does the Fair Deal scheme mean that 7.5% of total assets are taken each week regardless?
The HSE info occasionally remarks 'no-one will pay more than the actual cost of care' but I'm not clear on this.
If two people each had a pension of 36k.
Person A person has 5k in savings
Person B has 500k in savings
Do each pay 7.5% of their savings each week? Or only up to the weekly cost as advertised by the nursing home?
http://www.hse.ie/eng/services/list/4/olderpeople/nhss/#care:
"You will contribute 80% of your assessable income and 7.5% of the value of any assets per annum (5% of assets if the application was made prior to the 25th July 2013). However, the first €36,000 of your assets, or €72,000 for a couple, will not be counted at all in the financial assessment. "
What about the part that says 'no-one pays more than the actual cost of care' - so is the 7.5% of asset capped at the 'actual cost of care' as per the price list on the HSE website?
I meant separate single/widowed people. Leaving aside any property they have.
So Person B would pay 28,800 per annum plus (7.5% of assets) 37,500 = 66,300 per year for their nursing home care.
Person B in the next room would pay 37,500 plus (7.5% of assets) 375 = 37,875 per year.
Take Person C who has 36k pension, with 900k in assets, they would pay 37,500 plus (7,5% of assets) 67,500 = 105,000 per year for the same care??
What about the part that says 'no-one pays more than the actual cost of care' - so is the 7.5% of asset capped at the 'actual cost of care' as per the price list on the HSE website?
Thanks, this really helps. No matter how 'rich' a person is they only pay up to the price published by the HSE price list, and no more.
I left the house ownership out to simplify it.
Does the 7.5% contribution stop after 3yrs? Then it reverts to the 80% of income, correct?
That's correct. It makes no sense to pay the contribution until your means is low enough to make it worthwhile except for the 3 year rule on the home. All other assets apart from the home will be assessed indefinitely(less 36k)when you are availing of the scheme.Sorry, think I am getting mixed up again. Here is my question clearly put:
No matter how 'rich' the person is and how much their 7.5% adds up to, they ONLY EVER pay as much as the care costs as published by the HSE and no more than that?
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