Consumer insurance for long-term care (LTC) will not solve the problems of social care funding in England and Wales and a hybrid public-private partnership model should be explored instead, according to a new report.
The Gone for Good? Pre-funded insurance for long-term care report from think-tank Strategic Society Centre observed that although the UK has one of the most successful insurance industries in the world, no provider offered pre-funded long-term care insurance. It argued that no country in the world has an effective or functioning market in this type of product, and the UK confronts impossible demand barriers, including the free personal care system in Scotland that confused many in England and Wales. "Even if the UK were to achieve take-up rates for pre-funded long-term care insurance ...
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