New boost for farmers and business owners as nursing home costs slashed under new scheme
Landmark changes to the Fair Deal scheme will be backdated three years for nursing home residents who pass on their farms and businesses to relatives.
Farmers and business owners who have been paying significant Fair Deal contributions for the past three years will now have their assets excluded from future payments.
Similarly, those who have been paying the top rate for the past two years will only have one more year of HSE contributions to pay under the new regime.
The move will save nursing home residents, who pass on their farm or business to family members, thousand of euro in Fair Deal payments.
Minister for Older People Jim Daly is expected to get Cabinet approval for the new scheme in the coming weeks.
Currently, around 700 people have listed farming assets under the Fair Deal scheme and hundreds of others are believed to be former business owners.
Those who will benefit most from the changes are residents who have entered the nursing home system in the last three years or those who are just about to secure a place.
Nursing home residents who have been in care for more than three years will not be able to recoup contributions they have made beyond that period.