Partnership is calling on the Government to work in conjunction with insurance companies to fund long-term care.
In July, the coalition established an independent commission to advise it on affordable and sustainable funding of long-term care and support.
It is considering voluntary insurance premiums and a partnership model involving matched funding from the Government and will report back within a year.
Partnership director of corporate affairs Jim Boyd is calling for a partnership approach where a Government contribution is topped up by individuals via an insurance policy. He says: “If the Government makes a categorical statement that the world has changed, announces what the state will pay for and what individuals have to pay for, people will pay attention.”
A recent Policy Exchange report suggested the commission is considering allowing individuals to top up their Government contribution with an insurance product or annuity.
Policy Exchange head of health and social care Henry Featherstone says: “The annuity and insurance-backed partnership model is the best fit.”