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NHFA Help the Aged Care Fees Advice

NHFA Help the Aged Care Fees Advice. NHFA & Help the Aged Care Fees Advice Gaynor Abrams Business Development Manager. NHFA Help the Aged Care Fees Advice. Established in 1991 Leading Care Fees Advice specialist since 1991 Independent Part of HSBC Group since July 2005

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NHFA Help the Aged Care Fees Advice

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  1. NHFA Help the Aged Care Fees Advice NHFA & Help the Aged Care Fees Advice Gaynor Abrams Business Development Manager

  2. NHFA Help the Aged Care Fees Advice • Established in 1991 • Leading Care Fees Advice specialist since 1991 • Independent • Part of HSBC Group since July 2005 • Help the Aged Care Fees Advice since 1996 • Advice line – 0800 99 88 33

  3. NHFA Help the Aged Care Fees Advice Provide information and advice to: • Care home providers • Alzheimer’s Society • Carer groups • Charities Nottinghamshire County Council Self Funding Project • 2 year project • Raising awareness to self funders through Welfare Rights, social workers, support groups Three joint conferences in March to other Councils to share best practice

  4. Are people seeking advice? • Ageing population • Increasing demand for Care • Research carried out showed:- • 94% older people making no financial plans for long term care • 51% didn’t know care is means tested • 60% exceeded means test limit • 40 / 70,000 homes sold each year to pay for care • Circa 6% accessing specialist advice

  5. Why the need for specialist financial advice? Specialist qualification • Stipulated by Financial Services Authority • CF8 Long Term Care Insurance qualification • Ensures knowledge of legislation, care system and available benefits • Out of 43,000 IFAs, only circa 15% are qualified Financial advice shows: • Affordability of chosen care • Enables care fees to be paid for as long as possible • Ensure all available benefits claimed

  6. Benefits to self funder and care provider • Improve outcomes for Self funder • Where possible to pay fees for life without running out of money • Leave an inheritance • Maintain dignity • Care provider • Where possible, guaranteed fees paid • Peace of mind for resident, family and care home provider

  7. Questions?

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