Labour: LTC reforms will not stimulate insurance market

Today, health secretary Jeremy Hunt introduced a programme of reforms including a £75,000 cap on care costs and a means-test threshold of £123,000. This will be funded by National Insurance contributions released by the end of the state pension contracting out regime and freezing the inheritance tax threshold at £325,000. Hunt said with costs capped at £75,000 it would be easier for individuals to plan and obtain insurance. He claimed insurers and financial services would make products available as a result of this certainty. He added: "Just as people make provision for their pens...