Funding your own care
Paying for care can be an expensive and open-ended commitment if you find yourself with assets and/or savings worth more than the current financial threshold. You may be required to finance your own care so we strongly recommend that you seek specialist information and advice before entering into any commitments.
Many older people are now seeking specialist advice for planning for their future care needs. If you are currently in receipt of care it is still advisable to seek specialist advice as there may be options available to you to protect your interests and that of your family.
Further information about Independent Care Fees Specialists
In order to support people who pay for their own care, Hampshire County Council is working with three independent Care Fees Specialists: Care Asset Management Ltd., The Wealth Care Partnership and Care Fees Investment Ltd. to help you to make informed choices about your long term care and specifically how you can fund it.
These specialists can provide you with a consultation without obligation or charge to discuss your individual circumstances before agreeing with you how to proceed.
Areas on which they can provide advice include:
- the best way to fund your care
- safeguarding assets
- avoiding the risk of running out of funds to pay for your care
- your entitlement to state benefits
- setting up a Power of Attorney
- other matters related to later life planning
All of the organisations have specialists that are members of SOLLA (the Society of Later Life Advisers), Hampshire County Council’s Approved Trader Scheme called ‘Buy With Confidence’ are authorised and regulated by the Financial Services Authority.
Although we recommend that you seek specialist information and advice, Hampshire County Council is not responsible for any advice provided by a Care Fees Specialist.
Frequently asked questions
How do I know if I will need to fund my own care?
If you have assets and income (including your property) greater than £23,250 and are seeking to go into residential care (ie a care home) you will be responsible for funding your own long term care.
If you are seeking care at home support (ie domiciliary care) and you have assets or income (excluding your property) greater than £23,250 you will also be responsible for funding your own care.
Where do I go to get specialist advice?
Hampshire County Council is working with three organisations that specialise in providing independent information and advice relating to long term care, their details can be found in the right hand box.
If you choose to seek advice from another organisation it is important that its advisers hold the necessary qualifications: the Chartered Insurance Institute (CII) Certificate in Financial Planning and Long Term Insurance, (sometimes known as CF8) or the Institute of Financial Services equivalent (CeLTCI)
What will the Care Fees Specialist do for me?
They will assess your personal financial situation and your wishes regarding your care, the care setting, any inheritance you wish to leave for family and loved ones and explore with you the best way to fund your care in the long term.
Do I have to pay for the services of the Care Fees Specialist?
There will be no charge for your initial consultation and no obligation to proceed.
Howebver the Specialists will charge either a fee for their services or receive a commission from any products or services purchased. They will discuss this upfront with you before you commit to anything.
Can I have my son/daughter with me at the meeting with the Care Fees Specialist?
Yes. You may find it helpful to have a family member or friend present. Alternatively if you have appointed a Lasting or Enduring Power of Attorney (LPA or EPA) they can attend this meeting on your behalf.
If you have not yet appointed a Power of Attorney and wish to do so the Care Fees Specialist will be able to support you to set one up.
Do I have to take the recommendations that are given to me?
No. You are under no obligation to take up any recommendations that are made to you.
What do I have to do next?
Arrange for initial conversation with a Care Fees Specialist. You will either need to complete a Referral Form or contact the Specialist directly - details can be found in the right hand box.
Make a request for an initial conversation with a Specialist
You can contact the organisation yourself
by completing the online form or by using the details found in the right hand list of Independent Care Fees Specialists, either:
Call Adult Services on 0845 603 5630
and ask them to contact the organisation on your behalf.
There is no charge for this initial conversation and this service is entirely independent of Hampshire County Council.
if you are happy for your information to be given to the relevant organisation you will be informed which of the three providers you are being referred to and the organisation will contact you directly
For North Hants: Basingstoke Hart, Rushmoor and Winchester
Care Asset Management on 0800 032 5553
For East & South East Hants: Fareham, Gosport, Havant and East Hants
Care Fees Investment on 0845 077 5655
For West & South West Hants: New Forest, Test valley and Eastleigh
The Wealth Care Partnership on 01425 653263
- For North Hants: Basingstoke Hart, Rushmoor and Winchester
An online referral can be made to the organisation with your consent by e mail and the organisation will re-contact you
if you prefer to contact the organisation directly we can provide you with the contact details of the organisations or arrange to send you the information by e mail or post
What am I entitled to?
The local authority is here to help everyone understand their needs and, if required, provide an assessment.
For more information about what help you are entitled to, please see the Who can get help from Adult Services web pages.
Try our online self assessment