The Irish Farmers’ Association (IFA) Farm Family and Social Affairs Committee, in partnership with the Health Service Executive (HSE), is hosting an information webinar for farmers on the change to the Fair Deal scheme on Tuesday, March 22, at 8:00p.m.
Chair of the IFA committee, Alice Doyle said: “This information webinar is an important opportunity for farm families to familiarise themselves with the Fair Deal scheme and the conditions to qualify for the three-year cap on farm assets.”
She said the changes introduced for farmers availing of the scheme mean that under financial assessment of the scheme, if they meet certain conditions, they will contribute up to 7.5% of the value of farm business assets each year towards the cost of care for a maximum of three years.
This is known as the three-year cap.
Three-year cap in Fair Deal
The conditions to qualify for the three-year cap for farmers are as follows:
- You must appoint your family successor;
- The successor will commit to running the farm or business for at least six years;
- The farm or business must have been actively run by you, your partner or your proposed family successor for at least three of the last five years.
“These changes to the scheme also apply to farmers that were in the scheme prior to the introduction of the changes in October 2021,” Doyle added.
She said these farmers can apply for the three-year cap on the farm assets if they meet the qualifying conditions, but they must submit their application to their local Nursing Home Support Scheme office before April 20, 2022.
Doyle said that the information webinar is important for all farm families, even if you are not affected at moment, adding that it is important to understand the conditions of the scheme so you can better plan for your care needs as you get older.
The Nursing Homes Support Scheme, commonly referred to has the Fair Deal scheme, provides financial support towards the cost of long-term nursing home care.
The amount you pay towards your nursing home fees depends on your income and assets.
Pre-registration for the webinar is required via the IFA.