How much will you pay?
It is a basic principle of the NHSS that nobody will pay more than the cost of their care. The individual contribution toward the cost of care is 80% of assessable income and 7.5% of the value of any assets per annum. The 7.5% contribution from the principal residence is only included for the first three years of a person’s time in care. There is no cap for other chargeable assets although a cap may apply to farms if the older person is admitted to a nursing home as a result of an accident or emergency.
If you have no assets, you simply pay 80% of your assessable income (regardless of the source) and the HSE will pay the remainder. The first €36,000 of assets (or €72,000 for a couple) will not be counted in the financial assessment.