The publication of the Dilnot Report provides a once in a decade opportunity to arrive at a fair care funding system.
Self-funding long-term care residents could still face a bill of almost £200,000 for four years in a residential home under the proposed Dilnot Commission reforms, according to Partnership.
A commission has been launched to look at improving dignity and care to older patients in hospitals and care homes.
The collapse of Southern Cross may be repeated by other care home operators as local authorities have frozen the rates they will pay for their funded care home residents.
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Large numbers of care home residents who are presently private payers will be drawn within the ambit of local authority payment, Laing & Buisson has warned.
The Dilnot Commission report, set up by the Government to recommend a fair and sustainable funding system for adult social care in England, is to be welcomed.
Advisers, providers and elderly charities welcomed the Dilnot report, but urged the government not to kick the recommendations into the long grass.
Actuaries' professional body, The Actuarial Profession, has said that, if implemented, the Dilnot Report will present significant opportunities for the long term care insurance market.
The Dilnot Report on care funding today suggested its recommendations, if adopted, could kick-start pre-funded products in the long term care (LTC) market.