View more on these topics

NHFA urges Govt to think carefully on LTC proposals

The NHFA is urging the Government to think carefully about its proposals for long-term care for the elderly.

Yesterday, the Department of Health released its green paper into the funding of long-term elderly care, proposing three options to be consulted on.

The three options are a partnership service, a voluntary insurance scheme, or a possible compulsory ‘comprehensive model.

But care fees planning specialist NHFA says the devil is in the detail, and says the proposed models need careful consideration.

NHFA chief executive officer Nick Tyler says: “It is imperative that these proposals are nationally debated and that the public is fully engaged in the process. Nationally, we need to find a means of funding care that meets both public expectation and the affordability gap.

“It must be seen to be fairer, but not to leave those on low incomes without the safety net of public support, or those with assets and capital carrying a disproportionately higher share of the burden.”

Aviva UK Life says it could be extremely difficult to encourage people to pre-fund for long term care and is now warning the Government against over reliance on this form of funding.

An Aviva spokesman says: “By its nature, long term care is even less of a priority for many as it is an issue people may not have to consider for several decades.

“It is therefore important that we look to find a range of flexible solutions to support the future long term care needs of our customers. This may mean changes to the ways in which people’s assets are used to fund long term care.”


India correction: a terrific entry point?

By Kunal Desai, head of Indian Equities, Neptune A key concern for investors who were looking at India afresh has been the rich valuations and strong prior performance. We view the correction in the market through short-term growth concerns from demonetisation as a terrific entry point for the long-term investor. Investors should not be overly concerned […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment