This week the Strategic Society Centre put out a proposal for a National Care Fund to fund the personal care of older people, which could be administered and underwritten by the private sector.
Why explore this approach? The pre-funded long-term care insurance market has been a failure everywhere in the world. The demand and supply-side barriers are numerous and well-known. A number of key figures in the insurance industry told the Centre they believed there will never be an adequate market to respond to the care funding crisis unfolding in England and Wales. A small number of commentators still argue that with "clarity" from the government, a market would flourish. This is utterly misleading. First, because no government can tie the hands of future governments and provid...
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