Financial Advice: Help is available to fund the care of elderly loved ones

A nursing home’s approximately 25,000 residents have their energy needs met, but many facilities are struggling with rising costs because turning down the heat simply isn’t an option.

The response of the state were so-called tips and taps. The former refers to the Temporary Inflation Payment Scheme, which allows housing establishments to claim up to €31,500 each to contribute to higher costs incurred by the latter, which was €1,800 per inhabitant Covid support to deal with outbreaks.

Industry representative Nursing Homes Ireland (NHI) dismissed the government’s financial support scheme as “would be totally inadequate”.

It estimates the increased cost of living at €194 per inhabitant per week when consequential costs such as inflation for groceries and other services are taken into account. The tip payment is approximately €15 extra.

Instead, she calls for an increase in fees as part of the Fair Deal program, which is supported by taxpayers with around one billion euros a year.

Although residents sometimes contribute significantly to the cost of their own care, there is a long wait for the HSE to reclaim capital charges as the property to which they are attached cannot in most cases be sold until the person dies . and again longer if a spouse lives at home. So it’s a very expensive process.

Putting more money into the nursing home sector has an impact on the taxpayer.

The result is that at least 16 nursing homes have been closed this year alone.

For families, this is an added concern at a time when loved ones may need full-time care or may be in hospitals and unable to be discharged because there are fewer places left for them in the facilities.

Good news

The glimmer of hope for struggling families supporting loved ones in care homes is that new rules that came into effect last week mean they can earn more income by renting out a home owned by a care home resident. to bear the costs.

The measure is introduced to help with another problem: the housing shortage. It is estimated that between 4,000 and 7,000 apartments are currently empty because the owners live in nursing homes.

This is because there is no point in selling it (the entire nursing home bill would be due and the amount deducted in future years would be unlimited) or renting it out (stealing 80 percent of the income for Fair Deal).

Now “only” 40 pieces are taken. It should share at least some of it, which might make it worth renting out instead. For others, the hassle of becoming a landlord for a property they don’t own may seem like too much hassle.

The tax reduction does not apply to second or holiday homes

Home supported

Junior Secretary Mary Butler received a report from the interdepartmental Strategic Workforce Advisory Group last month that made 16 recommendations for hiring and retaining staff, adding to further problems.

Up to 1,000 new workers are needed, and travel allowances for homeworkers are also to be paid. Currently, caregivers providing home care must pay for their own transportation to and from the homes. With many already earning minimum wages, this is proving to be a barrier to having enough staff on the ground.

Familys

So what should families do? Many are looking for alternative options when it comes to caring for loved ones.

One of them is the placement of escorts.

Some companies, notably TheHomeShare.ie and Elderhomeshare.ie, have set up to act as intermediaries for students and other workers in need of housing to provide housing support to elderly people living alone.

These are not trained professional caregivers or nurses but can offer light duties and most importantly company and conversation in exchange for an apartment. The fees are usually a few hundred euros a month; significantly less than professional care.

It’s not a replacement for someone who needs full-time care in a residential home, but can keep some people in their own homes longer.

Home care packages

HCPs provide one to 20 hours of home care per week. It is often supplemented by families who pay privately for extra hours. Tax relief (at a marginal rate of 40 percent) is available to the payer. It makes sense if the child is of legal age, as most pensioners are not in the tax network.

The €200 energy credit from Level Pay customers may not appear until spring

Some “Level Pay” customers have difficulties with the crediting of the 200 euro energy credit by the energy supplier. They spread their payments evenly over 12 months instead of paying huge bills in the winter and very small bills in the summer.

The problem is that the provider has to estimate to some degree what your usage will be like. Any unpaid amount will be refunded to you at the end of the year.

Since prices fluctuate throughout the year, they keep track of the plans and adjust the monthly number accordingly. However, accounts are typically checked every three months or less frequently, meaning the government’s free cash bonus – €200 in November, January and March – may not register as received.

It has, and you won’t lose, but it might spring before they adjust the payments. One of the market leaders, Bord Gáis, said: “Level pay customers have a range of options when it comes to their government credit.

“Typically, a customer is subject to an annual review that considers any credits or debits to the account balance before making an adjustment to the monthly payment. In this way, the full benefit of the government loan(s) is distributed over a 12-month period. However, a Bord Gáis Energy customer may request an annual mid-cycle review, which may change the amount of their subsequent monthly payments.”

Those who have budget plans at their local credit union can go to their branch and request a review.

The Big Green Bus service is back

Last week the 750 bus returned to the airport.

After being suspended for Covid reasons – although international travel has been fully available since July 2021 – it has taken over a year to get back on the road.

Anyhow, the ‘Big Green Bus’ service returned on November 7th with 18 daily services in both directions, welcomed by Dubliners planning to travel over the Christmas period. Fares are €7 from Red Cow and €12 from Dundrum.

Aircoach offers a €9 round trip from the city center and the trusted number 16 runs a similar trip from Ballinteer at regular Dublin Bus fares.

Given possible parking fees for cars, public transport is the way to go.