A new approach to funding long term care


Posted on March 1st, by editor in Caring Times. No Comments

Caring Times, April 2001 The basis upon which eligibility for government-funded support for long term care is currently assessed is widely acknowledged to be flawed in a number of ways. First of all it is considered to be unfair, with an arbitrary cut-off point of £16,000 of “savings”. Secondly, the process is often abused, as evidenced by the percentage of those people aided (about 68% in November 1999) compared with estimated home ownership for the relevant age groups ­ in the range of 56-68% according to the General Household Survey of 1998. Thirdly, the cut-off point referred to above obliges many (perhaps ill-advised) pensioners to use capital assets to pay their fees, leaving little for inheritance. Last but not least, following-on from the third point, the present arrangements do not encourage the optimum use of a person¹s available capital. For many years I have held the view that a different approach is needed; an approach which corrects these fundamental faults in the current systems administered





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