Assessing your finances for adult social care

Financial assessments

After you have created your care and support plan you will have a financial assessment. This is the final part of the assessment process. However, if you are a carer and help to look after others unpaid, your are not subject to a financial assessment.

If we are not able to pay for the whole cost of your care, we are required to carry out a financial assessment on all customers to find out whether they have to pay some money towards their support.

You can complete our financial assessment form to see how much you may need to contribute. It may take up to 40 minutes to complete the form.

What does a financial assessment involve?

We will ask you to provide us with information about your income, capital and in some cases certain expenses that you may have so that we can calculate how much you are able to pay towards your care.

If you need to fund residential care, the value of your property may also be taken into account.

We will contact you about how this information can be collected to complete a financial assessment. This may be by:

  • telephone
  • postal form
  • visit

As part of this financial assessment, we will take into account capital that you own such as savings with a bank or building society:

Below £14,250We will not take these savings into account in the assessment
Between £14,250 and £23,250A tariff income of £1.00 for each £250 (or part of £250) and add this to your income used in the assessment
Above £23,250We will assess you as being able to pay the maximum contribution, no matter what other income and disability costs you may have.

If you have other types of capital such as shares and bonds we would include them in accordance with the our policy and government guidelines.

We may also give you advice on welfare benefits so you may be able to increase your income by claiming benefits you may be entitled to.

We can talk to you about some expenses you may have as a result of your care needs or disabilities. We call these ‘disability related expenses’ and they may include things like exceptional laundry costs, or paying for certain items of equipment. These do not include what we consider to be normal daily living costs. We will consider these items and may discuss them with you before deciding what amounts can or cannot be included as expenses that relate to your disability or care needs.

With the information we will then be able to calculate whether or not you need to make a contribution towards your care and support.

Paperwork you will need for a financial assessment

It is helpful to have your financial information available when the officer calls or to complete the required forms. This will include things like:

  • benefit award letters including state pension details and housing benefit award
  • occupational pension details
  • rent/mortgage and council tax details
  • details of all bank/building society statements and saving accounts
  • trust funds, bonds and any other income

Any recent receipts you may have would also be useful to have such as:

  • fuel bills
  • recently purchased disability equipment
  • invoices for privately arranged care purchased directly by you
  • essential purchases to enable care to be provided in your own home.

When completing the financial assessment the total amounts of your income, capital and savings will be added together. Certain expenses such as housing costs for a mortgage or rent payments and council tax as well as appropriate disability related expenses will be included if you are living at home.

We will also deduct an allowance that represents the minimum income that you are expected to keep for your own personal expenses. If you are living at home and have an assessment for a non-residential care service the allowance is called the ‘minimum income guarantee’ and if you are in residential care the allowance is called the personal expense allowance.