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Government announces long term care plans

The Government has announced plans to catmark long term care insurance. The widely anticipated move was first predicted in Money Marketing more than a year ago.

But the Government is to consult on the exact details of regulation. It is examining four options, a voluntary code of practice with Cat standards but without statutory regulation, partial regulation without advice included, full regulation of ltc with advice included — the preferred option – and full regulation of all medical insurance plans.

Treasury economic secretary Melanie Johnson says: "We have decided that new Cat standards are needed to set clear minimum standards for long term care insurance plans.

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