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Review of care products: key messages
- Author:
- GREAT BRITAIN. Department of Health
- Publisher:
- Department of Health
- Publication year:
- 2014
- Pagination:
- 4
- Place of publication:
- London
The Department of Health invited representatives of the financial services industry to conduct a review of the market of products to fund care. These reports have identified opportunities for development of financial care products and the problems they might face. This short report presents key messages from the financial services industry, which briefly outlines the types of plans those entering care (mainly aged 75+), the ‘semi-retired’, and those of working age should make. It suggests the sorts of “products” that could help with care costs, e.g. Equity Release; and that certain conditions are also needed to create consumer demand for such products to make provision for care, for example helping people to access good financial advice. The review was supported by 3 industry-led working groups that looked a: consumers and the marketplace, housing and equity, and pensions and insurance. (Edited publisher abstract)
Social care funding: statement of intent
- Authors:
- GREAT BRITAIN. Department of Health, ASSOCIATION OF BRITISH INSURERS
- Publisher:
- Department of Health
- Publication year:
- 2014
- Pagination:
- 5
- Place of publication:
- London
The Department of Health invited representatives of the financial services industry to conduct a review of the care product market. The industry-led review found that the Care Bill went a long way to creating the right conditions, but that more work remained to be done. This statement of intent is a public commitment from the Department of Health and the financial services industry to work together to help people plan and prepare for the costs of their long term care. This includes creating the right conditions for the development of more financial care products and overcoming the barriers identified in t he industry led report into care products. (Edited publisher abstract)
Bridging the gap: ensuring local authority fee levels reflect the real costs of caring for older people
- Author:
- BUPA
- Publisher:
- Bupa
- Publication year:
- 2012
- Pagination:
- 16p.
- Place of publication:
- London
In each of the last three annual rounds of fee setting, local authorities have failed to raise fees by a sufficient amount to cover care homes’ increased costs. In the financial year 2010/11, baseline fee rates paid by local authorities increased on average by 0.7%, compared with estimated care home cost increases of 2.1%. In the financial year 2011/12, the funding gap widened with average local authority increases of just 0.3% compared with estimated care home cost increases of 2.8%. This reports suggests that the failure to agree a sustainable funding structure for the future of social care has added a further £26 million to the financial black hole in just 12 months. The funding shortfall, which now stands at £892 million for this year, is the gap between the true cost of providing high quality care and the fees paid by local authorities to care home providers in England. Central Government funding cuts and the increasing needs of an ageing population has meant that many councils are paying below-inflation care home fees for the fourth year running.
Caps, opt-ins, opt outs: is England making progress in reforming care funding?
- Author:
- LLOYD James
- Publisher:
- Strategic Society Centre
- Publication year:
- 2012
- Pagination:
- 24p.
- Place of publication:
- London
This discussion paper provides a response to the government's recent progress report on care funding. The government’s report ‘Caring for our future: progress report on funding reform’, July 2012, set out the government's response to the recommendations of the Commission on Funding of Care and Support. In this document, the government accepts as the basis for reform the principle put forward by the Commission of financial protection through capped costs and an extended means test, but reveals that it will not make a decision on the capped cost model until the next Spending Review expected in late 2013. This response paper argues that the government's progress report effectively acknowledges that care funding reform could proceed on a cost-neutral basis for the Treasury, and not interfere with the government's deficit reduction strategy. However, the government fails to set out any of the options for paying for care funding reform and does not seek to use its report to inform a wider debate on this issue. This discussion paper suggests that progress toward care funding reform may occur in several ways: public acceptance of the difficult tax and spending decisions required to make the capped cost model cost-neutral for the Treasury; the implementation of a low-cost capped cost model; or the creation of a voluntary capped cost state-sponsored insurance scheme that becomes mandatory over time.
Rowntree's retirement villages
- Author:
- STURGE Michael
- Journal article citation:
- Journal of Care Services Management, 1(4), July 2007, pp.341-352.
- Publisher:
- Taylor and Francis
This article describes the Joseph Rowntree Housing Trust's retirement village in York and its proposed village in Hartlepool. It contrasts the financial terms of the two developments. The benefit of these schemes for older people is discussed, along with the challenges that they face.
Will Wanless inject hope?
- Author:
- SNELL Janet
- Journal article citation:
- Community Care, 13.04.06, 2006, pp.34-35.
- Publisher:
- Reed Business Information
The social care sector in England has enthusiastically welcomed the Wanless report. The author discusses how much of it the government will adopt.
The £30bn question
- Author:
- GLASBY Jon
- Journal article citation:
- Community Care, 13.04.06, 2006, pp.36-37.
- Publisher:
- Reed Business Information
This article explores how the Wanless review's findings are social care's best hope for future funding and why policy makers need to make it work.
Self funders, the invisible lynchpin of the social care system: briefing
- Authors:
- WARD Lizzie, RAY Mo, TANNER Denise
- Publishers:
- Wellcome Trust, University of Lincoln, University of Brighton, University of Birmingham
- Publication year:
- 2020
- Pagination:
- 10
This briefing draws on research findings from the Ethical Issues in Self-funded Social Care: Coproducing knowledge with older people project. The participatory research project explored how older people experience the process of finding and paying for personal care from their own resources in three local authority areas in England. Older self-funders are an essential component of the social care landscape but are largely invisible in debates about social care policy and practice. Self-funders tend to pay more for care than people getting publicly funded care, sometimes ‘cross-subsidising’ publicly funded care, thereby making important financial contributions to a financially vulnerable care market. Ensuring that they had sufficient funds to cover their care needs was a major concern for many older people in our study who worried about the implications of running out of money. When self-funders’ resources reach the financial threshold, local authorities are usually approached to meet their care and support needs. Uncertainty is created for local authorities as they lack reliable data on the numbers of self-funders within their jurisdiction. This means they cannot anticipate or plan for the numbers of people who may reach the capital threshold in any given year. Self-funders currently function as lynchpins that help to sustain a social care system characterised by fragile care markets and insufficient public funding. But, if their self-funding status changes, their position alters radically and they are often left with little choice but to change care arrangements to accommodate to locally commissioned rates. This raises crucial questions about equity, fairness and the uncertain and shifting line between private and public responsibilities. (Edited publisher abstract)
Six myths about paying for care: briefing
- Authors:
- WARD Lizzie, RAY Mo, TANNER Denise
- Publishers:
- Wellcome Trust, University of Lincoln, University of Brighton, University of Birmingham
- Publication year:
- 2020
- Pagination:
- 16
This briefing draws on research findings from the Ethical Issues in Self-funded Social Care: Coproducing knowledge with older people project. This participatory research project explored how older people experience the process of finding and paying for personal care from their own resources in three local authority areas in England. Older people who pay for their own care remain almost invisible in policy and practice. Little is known about the ways in which they navigate and negotiate buying care in a complex and fragmented care system. In the absence of evidence, misplaced assumptions are often made about self-funders which mitigate against them getting the support they need. In this briefing, we highlight some of the ‘myths’ about self-funders identified in our research and the implications of engaging with evidence rooted in older people’s experiences. These myths are: self-funders have choice; self-funders have control; paying more means better quality; self-funders are nothing to do with local authorities; self-funders are well-off; self-funders need ‘a little bit of help’. Most significantly, engaging closely with the lived experience of older people reveals the chasm between stated adult social care policy objectives and the services received by older people purchasing care from the ‘care market’. (Edited publisher abstract)
The whole of society will benefit from social care reform: what would a lifetime cap on care costs mean for people in ‘red wall’ seats?
- Author:
- TALLACK Charles
- Publisher:
- Health Foundation
- Publication year:
- 2021
- Place of publication:
- London
Social care in England needs fixing. The current system is underfunded and needs more money supported by policy changes. But more fundamental reform of the way in which we pay for care is also needed. Currently, people are exposed to huge and unpredictable costs. The costs for those with the greatest needs can run into hundreds of thousands of pounds. Under the current system, less wealthy people are most at risk of losing almost everything. Someone with a house worth £125,000 needing 5 years in care could lose more than 80% of their wealth, compared with less than 50% for someone with a house worth twice that. People living in newly gained Conservative areas (the so-called ‘red wall’) are most affected because they have lower median house prices (£160,000), than in Labour-held constituencies (£190,000), or older Conservative seats (£270,000). A lifetime cap of £50,000 on the amount individuals pay for care would particularly benefit those in red wall seats. A cap is a vital element of social care reform, but alongside it, more money is needed to improve access to care, improve workforce pay and support a stronger market for providers. (Edited publisher abstract)