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Ro5 Finanacial Protection > Long Term Care > Flashcards

Long Term Care Flashcards

1
Q

How many people were above the age of 65 in 2005

A

8m

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2
Q

How many people will be above the age of 65 in 2025?

A

11m

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3
Q

How many people will be over the age of 85 in 2025?

A

2m

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4
Q

What act unified all the LTC legislation?

A

Care act 2014

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5
Q

What 7 different settings can long-term care be provided?

A

Own home - domiciliary care
Sheltered housing/supported living
Care home
Care home with nursing
Hospital
Hospice
Other sources

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6
Q

How many people in the UK considered themselves carers?

A

6m
2.1m for more than 20 hours a week.

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7
Q

How much does a live in nurse cost?

A

£200 per day with higher costs for weekends and bank holidays
£70,000 per year average

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8
Q

How much does a care assistant vister cost?

A

£30 per hour depending on where in the country
£50,000 per year average

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9
Q

How much does a care home cost?

A

£600 per week in North West England
£850:per week in South East England

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10
Q

How much does a nursing home cost each week?

A

North West england £900 per week
South East England £1200 per week

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11
Q

What 2 types of care do the NHS offer?

A

NHS continuing healthcare
NHS funded nursing care

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12
Q

When will NHS Continuing Care be implemented?

A

Primary health need but no space in hospital.
Needs tested.

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13
Q

If a patient doesn’t qualify for NHS continuing care, how may they still receive support?

A

NHS funded nursing care (NHS FNC)

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14
Q

What is the purpose of an assessment by the local authority?

A

To establish a person’s needs for care, not who will pay for them.

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15
Q

What is single assessment framework (SAF)

A

The sharing of information between all relevant parties for care provision under NHS continuing healthcare.

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16
Q

What happens for funding if a person does not qualify for NHS continuing care?

A

Pay for care themselves, or the local authority pays for them on means tested basis.

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17
Q

How much capital can you hold before being expected to pay for your own care in England?

A

£14,250 lower
£23,250 upper pay for it all

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18
Q

How much capital can you hold before being expected to pay for your own care in wales?

A

£50,000
£24,000 care at home

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19
Q

How much capital can you hold before being expected to pay for your own care in Northern Ireland?

A

£14,250
£23,250 upper

20
Q

How much capital can you hold before being expected to pay for your own care in Scotland?

A

£20,250
£32,750 upper

21
Q

What is tariff income?

A

£1 per week for every £250 or part there of, of capital above the lower threshold

22
Q

What exceptions are there to capital in the capital threshold?

A

Insurance bonds and the home

23
Q

What will the cap on care home fees be in England in October 2025?

A

£86,000

24
Q

What will the cap on care not cover?

A

Care outside of the home.
Living costs such as food, electricity, accommodation.

25
Q

How much will need to be owned in assets before care costs can be taken from these?

A

£20,000

26
Q

What will people with assets between £20,000 and £100,000 be eligible for?

A

Means tested financial support on a sliding scale.

27
Q

Do you have to have capital to pay care costs?

A

No, if you have an income such as from a pension, this will be tested.

28
Q

What is the personal expense allowance?

A

The amount of income you can retain to pay for expenses before paying LTC cost.

Stands at £28.25 per week in England.

29
Q

How much of your pension can be paid to your spouse at home?

A

50%
Does not count for state pension.

30
Q

How is income from investments counted toward LTC means testing?

A

It’s not because tarrif income is counted instead which is higher.

31
Q

When will a home escape means testing?

A

When receiving at home care.
During the first 12 weeks of permanent care.
When a spouse lives in the house.
When an elderly, disabled, minor child of the care recipient, lone parent or former spouse lives in the house.

32
Q

What is a deffered payment arrangement?

A

Where the local authority pays for care and rolls up a debt against a house with an interest set by the government. This is repaid on death.

33
Q

What should be sort for a house owned as tenants in common in paying for LTC?

A

Specialist legal advice

34
Q

Are bonds used to check income means testing for LTC

A

The surender value isn’t (clased as life protection), but any 5% withdrawals are counted towards income.

35
Q

What prevents people from putting all their money into a bond to prevent LTC costs?

A

Diliberate Asset Deprivation rules

36
Q

Who gets attendance allowance once in care?

A

Only self funded recipients.
In Scotland, both lose as they pay the higher amount.

37
Q

What 10 ways can long-term care be self funded?

A

Investments
Pensions
Renting out a home
Equity release
Insurance based products
Legacy long-term care bonds
Immediate needs annuities
Advanced Death benefits
Critical Injury insurnce
Viatical settlement

38
Q

How many failures of ADLs were required to pay out on cheap insurance plans and how many on expensive?

A

3 cheap
2 expensive

39
Q

What ADLs were covered for insurance

A

Eating
Dressing
Mobility
Transferring
Continence

40
Q

What is an immediate needs annuity? (INA)

A

A form of underwriten purchased life annuity

Lump sum exchanged for income for life.

41
Q

How is INA taxed

A

Tax-free when paid directly to the care provider.

Part return of capital that is tax-free to recipient. Balance is considered interest and taxed, usually 20%

42
Q

What should be considered with care costs?

A

Inflation runs very high.

43
Q

What are the titles for power of attorney in scotland?

A

General POA
Continuing POA
Welfare POA
Joint continuing and welfare POA

44
Q

How much is NHS FNC in England?

A

£219.71 with legacy cases from before 2007 at £302.25

45
Q

How much is NHS FNC in Scotland

A

£95.50 per week to care recipients over 65

Personal care of £212.85 per week.

46
Q

How much is NHS FNC in Northern Ireland?

A

Up to £100 per week from local health and social care trusts.

Depends on whether they are also funding other aspects of care.

47
Q

How much is NHS FNC paid in Wales

A

£184.32 Depending on health board
Also has supplement for continence care.

Ro5 Finanacial Protection (11 decks)

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