Moving to a nursing home not only brings organizational hurdles, but often also financial worries. However, legal regulations ensure that a certain amount and a small personal reserve are retained. The framework conditions that apply are precisely defined.
Assets protected by law
When you move to a nursing home, the nursing care insurance fund pays for important care services, but many costs such as accommodation and investments remain as your own contribution. In order to avoid serious financial hardship, there are statutory allowances – the so-called protected assets.
According to the Federal Ministry of Health, 10,000 euros per person can currently remain exempt as assets. For spouses or life partners, the sum increases to 20,000 euros. For children living in the household, an additional allowance of 500 euros can be added, as the consumer advice center reports.
Protection for real estate
Real estate can also be recognized as protected assets. What is crucial is that the property continues to be occupied by the person in need of care, a spouse or life partner or other relatives. Under these conditions, the property is generally excluded from access as part of the care costs, according to the Allgäuer Zeitung.
Cash amount for personal expenses
In addition to the protective assets, people in need of care who are dependent on social assistance (“care assistance”) are entitled to a monthly cash amount, formerly also known as “pocket money”. According to the Nursing Protection Association BIVA, it is at least 27 percent of the standard requirement level 1 and is used to cover personal expenses such as visits to the hairdresser, personal care or additional payments for medication.
Why this is important
The protection provided by the savings assets and the additional cash amount offer older people and their relatives financial stability, even if the out-of-pocket costs in the nursing home can be high. Solid planning and timely information about these legal protective measures create clarity and relieve emotional and financial stress.
Editorial team finanzen.net