Overview to Financial Options

At Silver Stream we recognise and appreciate that making a care decision can be a challenging time for you and your family.

Sometimes a care decision can be made gradually, as you grow older or your health declines, or sometimes a care decision will have to be made quickly, for example in the event of an illness or injury.

In any event, we find that understanding your options, and knowing what to expect, can help to make your decision a little easier.

An important factor to consider when choosing residential care is how you will finance your healthcare. There are a number of options to choose from whether you wish to pay privately or require financial assistance.

This section has been prepared to provide you with comprehensive information about our schedule of fees, your payment options and how to apply for financial assistance, should you require it.

When you are ready, we invite you to arrange a consultation with a member of our professional care team.

If you have any questions or would like more information, please don’t hesitate to get in touch. We will be happy to assist you every step of the way, to ensure that you make the right choice for you.

Paying Privately

You are welcome to pay your fees privately if you do not require financial assistance. You may wish to fund your care through income, pension or sale of an asset. Paying your fees on a private basis will be agreed with you prior to your admission and the information will be included in your Contract of Care.

If at any time while you are paying privately, you wish to apply for financial assistance then please discuss this with the Director of Nursing at your earliest convenience. All residents are welcome to apply to the Fair Deal (Nursing Home Support Scheme).

If you are paying your own residential care fees privately, or are paying for another person’s care, you may be entitled to claim tax allowances or rebate. We advise you to contact the Revenue Commissioners to check your entitlements prior to, or upon commencement of paying your fees.

For more information about your entitlements and how to apply, go to  www.revenue.ie

The Carer’s Grant is an annual payment made to carers by the Department of Social Protection. Carers may use this grant to avail of respite care for the person to whom they are providing care in a Silver Stream Home. If this is something you may qualify for you can learn more by contacting the Department of Health as follows:

Department of Health & Social Protection
Respite Care Grant Section
PO Box 10085
Dublin 2
Tel: 01 673 22 22
Web: www.welfare.ie

Fair Deal

The Fair Deal (Nursing Home Support Scheme) provides financial assistance towards the cost of long stay nursing home care. Under the scheme, people who need nursing home care have their income and assets assessed, and then make a contribution towards the cost of their care based on this assessment. The HSE will pay the balance (if any) of the costs of care in designated public, and approved private, nursing homes covered under the scheme. All Silver Stream Healthcare Group nursing homes are currently included in the Nursing Home Support Scheme.

As the budget for this scheme is fixed each year, there is sometimes a waiting list for financial support. The processing time for all Support Scheme applications can take up to eight weeks, so it is important that you apply as early as possible to ensure that you receive financial assistance prior to your admission.

There are two types of financial support available under this scheme – State Support and a Nursing Home Loan (Ancillary State Support).

There are two parts to the application process:

  1. A care needs assessment
  2. A financial assessment

For more information on the Fair Deal Scheme and to download an application form please follow the link:

https://www2.hse.ie/services/fair-deal-scheme/fair-deal-application-process.html

Your income and assets are assessed and your weekly contribution is worked out. The HSE will pay the rest of the weekly cost of your care, this is called State Support.

This is an optional extra feature of the Nursing Home Support Scheme for people who own property or land-based assets in Ireland. Instead of paying your full weekly contribution for your care from your own means, you can choose to apply for a Nursing Home Loan, to cover the portion of your contribution which is based on property or land assets. The HSE will then pay that portion of your cost of care on top of your State Support payment.

The loan is paid back to the State after the sale of all, or part, of the asset or upon your death, whichever occurs first. Repayment of the loan is made to the Revenue Commissioners. In certain cases, repayment of the loan can be deferred. This part of the scheme is designed to protect people from having to sell their home during their lifetime to pay for nursing home care.

For more information about the Nursing Home Loan and to download an application form please follow the link and complete Part 6 of the form.

https://www2.hse.ie/services/fair-deal-scheme/fair-deal-application-process.html

Medical Insurance

Many health insurance providers offer a convalescence care option, or contribution towards short stay care, included in your health plan. To check your eligibility, you will need to contact your health insurance provider.

As Silver Stream Healthcare Group have no direct payment scheme with medical insurance companies, you will be required to pay your fees upon admission to residential care. The fees will include your accommodation and comprehensive nursing care.

As a resident you will have the same benefits and opportunities as long stay residents, with access to all services and facilities including health and social care programmes. You will also have access to a panel of therapeutic and specialist services on a private fee basis.

Following your stay, Silver Stream will provide you with all the documentation necessary to complete your medical insurance claim.

Care Fees

All Silver Stream Healthcare Group care fees are based on the nursing home, care option and accommodation type you choose.

Your schedule of fees and payment method will be discussed and agreed with you prior to your admission, including any additional or ancillary service fees.

Residents are encouraged to manage their own finances. If you are unable, the Director of Nursing will agree a nominated representative to manage your account prior to your admission.

All information regarding financial matters will be recorded in your Contract of Care.