Steve reflects on the future funding of social care
The briefing particularly focussed on how to fund adult social care in the future. While it is really good that life expectancy is increasing quality of life still matters and it is important to find an affordable way of ensuring elderly people get the support they need in old age.
In July 2011, the Commission on the Funding of Care and Support published its recommendations on the future of funding of social care.
At present, an individual with more than £23,000 worth of assets has to fund the entirety of their social care cost. The Commission has recommended a cap on individual contributions to adult social care costs.
“There is a huge dilemma we are facing as a country, which is how to pay for the cost of adult social care. We all expect, rightly, to be cared for in our old age, but the money has to come from somewhere.
“We know this shortfall in funding can’t be solved by the Government because they simply aren’t prepared to do it and it is too risky to rely on private insurance exclusively.
“I support the Commission’s proposal of a cap on individual contributions of around £35,000.
“I think the present system which means someone with assets valuing more than £23,000 bearing the whole cost of their social care unfairly penalises homeowners.
“I think it is unfair to force elderly people to sell their homes, for which they have worked hard to pay for, to ensure they are properly looked after in their old age.
“I am not saying individuals who can afford to shouldn’t contribute to the costs, but I think the system needs a rethink.”
“This needs to be done sooner rather than later and with agreement from all parties to ensure a long-term solution.”