Unfortunately I don't know how to reference another site but in the Money Guide Ireland they give an example of a married couple with house valued 400,000 jointly owned with wife needing nursing home care and the contribution appears to be 236.53 weekly. Is it possible to apply for the Fair deal scheme by making this payment and avoiding the Nursing Home and the resultant mortgage on the house.
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Moderator Note - example of calculation taken from Money Guide Ireland - see here:
Example of Calculation
A married couple living in a house which they jointly own.
The wife needs full-time nursing home care. They have a combined income of €500 per week. Their house is valued at €400,000. Under the scheme, the wife will only have to pay €200 a week towards her cost of care. This is because half of the couple’s income is €250 and 80% of this is €200. The HSE will pay the balance of the nursing home costs.
A deferred contribution of €236.53 per week, for a maximum of three years, is also payable from the estate after the death of both of the couple. This is calculated as follows:
Value of house: €400,000
Less the Asset disregard for couple: € 72,000
Remaining Value: €328,000
50% of remaining value : €164,000 (because it is jointly owned)
7.5% of 164,000 per annum: € 12,300
Divide by 52 to get weekly amount: € 236.53
If the wife is still in a nursing home after three years, the principal residence would no longer be used in the financial assessment. (Total deferred payment capped at €12,300 in this example).
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Moderator Note - example of calculation taken from Money Guide Ireland - see here:
Example of Calculation
A married couple living in a house which they jointly own.
The wife needs full-time nursing home care. They have a combined income of €500 per week. Their house is valued at €400,000. Under the scheme, the wife will only have to pay €200 a week towards her cost of care. This is because half of the couple’s income is €250 and 80% of this is €200. The HSE will pay the balance of the nursing home costs.
A deferred contribution of €236.53 per week, for a maximum of three years, is also payable from the estate after the death of both of the couple. This is calculated as follows:
Value of house: €400,000
Less the Asset disregard for couple: € 72,000
Remaining Value: €328,000
50% of remaining value : €164,000 (because it is jointly owned)
7.5% of 164,000 per annum: € 12,300
Divide by 52 to get weekly amount: € 236.53
If the wife is still in a nursing home after three years, the principal residence would no longer be used in the financial assessment. (Total deferred payment capped at €12,300 in this example).
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