Warning issued over possible elderly care tax
Charities
28th July 2010
Introducing a taxation system should not be the only solution selected to paying for elderly care in the future, it has been suggested.
According to Policy Exchange, a commission established to look at the issue of long-term provision should consider three potential models, including the social insurance system used in Europe, the King's Fund partnership policy and a hybrid version that requires individuals to top-up contributions.
Care providers seeking a UK insurance policy may be interested to learn that the thinktank also claimed in its study - Careless: Funding long term care for the elderly - that NHS and local authority budgets in the field could be merged.
Author of the report Henry Featherstone, head of the Health and Social Care Unit at the Policy Exchange, said: "We now have an opportunity and the time to properly think through and implement a fundamental reform of the way that we pay for long-term care of the elderly."
The coalition government recently announced the creation of the Commission on the Funding of Social Care UK, a move that was welcomed by charity Carers UK as evidence that ministers are moving swiftly forward with plans to find a solution to the problem of the "crumbling" current system.
For more information on how Giles can help you with your insurance needs, Click here.
