The article discusses the challenges families face regarding the family home when an elderly relative requires long-term care. Traditional options, like selling the home, are emotionally charged. Harney introduced the Fair Deal Scheme, which enables elderly individuals to access their home equity for nursing care posthumously. This scheme, which levels the financial support across private and public nursing homes, assesses contributions based on income and asset value, while capping costs to prevent undue burden. The system aims to address the growing demand for nursing-home care amid changing demographics.
The Fair Deal Scheme revolutionized nursing home care financing by using home equity posthumously, providing necessary funding while addressing the emotional complexities of selling a family home.
Harney's proposed system finally established a fair, transparent method for assessing contributions to nursing home care, emphasizing equity between private and public care options.
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