People are willing to pay for LTC - Partnership
Nearly 60% of oldest believe individuals should pay for at least 50% of long term care costs, Partnership has found.
Older people are prepared to share at least half of the costs of care funding with the State, if someone who needs care has the savings and property that could be used to pay for it.
Partnership research has revealed 37% of over 65 year olds would be prepared to split the costs 50:50 with the State, while 15% of consumers aged 75 and older believe that individuals should stump up 100 percent of the costs of long term care if they have savings or could sell their home to pay for it.
The Partnership Care Index conducted interviews with consumers aged over 45 to measure attitudes towards long-term care across the UK.
Which of the following statements best reflects your attitude to who should pay for long-term residential care, if someone who needs it has savings and property that could be used to pay for it?:
Chris Horlick, managing director of care at Partnership, said: "This survey sends an important message to Government while it fine tunes the Social Care White Paper.
"The oldest are prepared to share the burdens of paying for their care and will consider a partnership funding arrangement between the State and Individuals.
"This is in marked contrast to those who claim that the oldest should not shoulder the costs of care. The Government must demonstrate leadership and ensure there is a broad public debate about care funding."
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