Shouldn't that be 80% x (52 weeks x €265.30) = €11k?My mother receives the state pension only as income.
80% of income i.e. €10,000 approx
You seem to have a typo there - 7% - but the €6,300 figure is correct.7.5% of her savings less €36,000 (i.e. 7% of €84,000) i.e. €6,300
€32,300 by my calculation using my pension figure.So, that equates to a total cost of €31,300 each year.
Is this correct ?
Are you referring to the Nursing Home Loan here? That's an optional and not a mandatory part of the Fair Deal Scheme.I realise that the family home part is not paid each year but instead will be paid after my mother passes away.
As mentioned above, the house is only assessed for the first three years.Is that the sum total of what she will pay, or are there further expenses that I don't know about ?
No, that was taken into account and it's 7.5% as she's the full owner, being a widow, so always use the 7.5% but halve the assets if it was a couple.@Ken651 I think we missed a very important element of the calculation. The first €36k is except from the assessment
from link below "The first €36,000 of your assets is exempt from the assessment. This is discounted from your cash assets first, and then your non-cash assets (land or property)"
so it becomes it's 3.75% of €120k - €36k
3.75% of €84k = €2,240 pa or €43 per week.
Financial assessment: How much you pay towards care
Find out how how the Fair Deal financial assessment works and how we calculate your payments towards nursing home care.www2.hse.ie
The nursing home I dealt with have a 'service' charge of €2,000 per month.
rang the home and then this 2k 'Service' charge came to light.
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