Financial assessments

Following your Care Act assessment or carer’s assessment, you may have to have a financial assessment. This is also known as a means test.

It will look at your total income and what is called capital to find out what you can pay towards the cost of your care and support.

If you want to get in touch with us about  a financial assessment please:

The financial assessment process

The financial officer will look at your income and your capital savings if:

  • you have savings of £14,249 or below they will not be considered as part of your assessment
  • you have savings between £14,250 and £23,250 they will be considered
  • for every £250 (or part of £250) you have over £14,250 Solihull Council will add £1.00 to your total weekly income assessed in the assessment
  • if you have savings of more than £23,250, or you do not want to have a financial assessment, you will have to pay the full cost of your care

We’ll ask you about any costs caused by your care and care and support needs or disabilities.

If you are moving into residential care, the value of your property may also be used as part of your financial assessment.

We’ll discuss if there are ways to increase your income, such as any benefits you could be entitled to, that could help fund the cost of your care.

What you need to provide

If you are having a financial assessment it will help us if you prepare your documents.

This could include:

  • benefit award letters
  • state pension details
  • housing benefit award letters
  • occupational / private pension details
  • rent / mortgage agreements
  • council tax details
  • bank / building society statements
  • savings accounts / PEP / ISA details
  • trust funds, bonds and any other income details

You may also find it helps to have recent receipts and bills to hand, such as for:

  • fuel bills
  • disability equipment
  • care and support invoices for private care

The financial assessment will apply to the total amount of your income, capital and savings after certain costs have been taken away.

Costs which will not be included in the total for your financial assessment include:

  • mortgage payments
  • rental payments (after any Housing Benefits has been applied)
  • council tax (after any Council Tax Reduction has been applied)

We will deduct an amount equivalent to the basic level of Income Support or Pension Credit plus 25 per cent.

Income used in your financial assessment

Income we can consider as part of your financial assessment  includes:

  • State Retirement Pension
  • Attendance Allowance
  • Disability Living Allowance Care Component
  • Personal Independence Payment Daily Living Component
  • Incapacity Benefit / Severe Disablement Allowance
  • Occupational / Private Pensions / Annuities
  • if your husband, wife or partner is staying in your home and you are in a care home only 50 per cent of this will be included in your assessed income
  • Pension Credit Guarantee Credit / Income Support / Employment and Support Allowance
  • Universal Credit

Income not used in your financial assessment

Income we will not consider includes:

  • Disability Living Allowance Mobility Component
  • Personal Independence Payment Mobility Component
  • War Pensions Mobility Supplement
  • Tax Credits (Working and Child)
  • Child Benefit
  • Earnings
  • Guaranteed Income Payments made to Veterans under the Armed Forces
  • War Pensions 
  • Pension Credit savings credit (£5.75 per week not included)

Saving, investments and assets

Capital considered as part of the total assessed as part of your financial assessment include:

  • stocks and shares at 90 per cent of the market value
  • money held in bank or building society accounts
  • Premium bonds
  • cash
  • property including your home if you are moving into residential care
  • land