Government proposes compulsory insurance for elderly care
Elderly people in England could be charged up to £20,000 to guarantee basic social care and support at the end of their lives under new proposals being considered by the government.
The compulsory insurance scheme is one of three options under consideration to fund a new National Care Service.
Health Secretary Andy Burnham said the proposals, at blueprint stage, are designed to end the “cruel lottery” that forces some people to sell their homes to afford care whilst others pay nothing.
Speaking in the House of Commons, Burnham said he wants to set up a system that is “fair, simple, and affordable”.
Alternative proposals being considered by the Health Secretary include an initiative that would split the cost of care between the state and the individual, and a voluntary insurance scheme giving people the option to insure themselves in case they need care.
Burnham encouraged the public to share their views on the proposals, under all three of which those with little or no savings will continue to receive free care.
The Conservatives accused Burnham of simply starting another debate rather than making difficult decisions now.
Figures from LV= show that caring for an elderly person over a 30-month period costs £88,140.
The average Brit spends £30,000 on care, although 20% spend more than £50,000.
Category: Health Insurance News, Insurance News
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