Áine Brady (Kildare North, Fianna Fail)
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When the Nursing Home Loan falls due for repayment, the HSE writes to the person responsible for the repayment and notifies them of the amount due. In doing this, the HSE will apply the Consumer Price Index to the loan to take account of the time value of money (i.e. inflation or deflation) since the loan was made.

Money owed under the Nursing Home Loan must be repaid to the Revenue Commissioners and goes into the Central Fund. If the repayment arises because of the death of the person in care, the loan must be repaid within 12 months of the date of death. Otherwise interest will apply from the date of death. If the loan is repayable because of the sale or transfer of the asset during the lifetime of the person in care, it must be repaid within 6 months of the date of sale or transfer. Otherwise interest will apply back to the date of sale or transfer. The rate of interest applied where an individual does not make the repayment within the relevant deadline is prescribed by the Minister for Health and Children following consultation with the Revenue Commissioners and with the consent of the Minister for Finance. The Nursing Homes Support Scheme (Collection and Recovery of Repayable Amounts) Regulations 2009 set the rate of interest at 0.0219% per day.