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The first step?: a response to the Commission on Funding of Care and Support
- Author:
- LLOYD James
- Publisher:
- Strategic Society Centre
- Publication year:
- 2011
- Pagination:
- 83p.
- Place of publication:
- London
This report from the Commission on Funding of Care and Support asks: why is it necessary for the state to provide protection against the catastrophic costs of long-term care?; what will the 'capped cost' model mean for how local authorities assess need and allocate resources?; and how will the design of the 'capped cost' model determine the use of financial products in the social care system? The Commission’s proposals are built around the ‘limited liability principle’: individuals should not be exposed to the risk of ‘catastrophic’ accumulated care costs; given the insurance industry cannot offer protection; the state must step in and provide it instead. In the Commission’s ‘capped cost’ model, all individuals with eligible needs – proportional to receipt of informal care – would be allocated notional cash support, even if they are too wealthy to qualify for actual support. Once the accumulated notional support reaches £35,000, they would be reassessed on a ‘means-blind’ basis. Given most of the extra spending would go to wealthier households, stakeholders may insist it is wealthier older households who shoulder the extra costs. Older people’s property wealth remains the best potential source of untapped new finance to bring into the social care system.