MPs call for non-profit insurance 'premium' to fund social care

A joint report from the Housing, Communities and Local Government and Health and Social Care Committee has called for the introduction of ‘Social Care Premium', either as an additional element of National Insurance or premium paid to a not-for-profit social insurance fund for social care. The report by cross-party Committees - ahead of a government green paper expected in the autumn - advised that premium should only be paid by those aged over 40 and extended to those over 65, to ensure fairness between generations. The money would be held within an ‘independent, dedicated and audited...