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Ombudsman could open door to LTC cost redress

A Health Service Ombudsman report has opened the door to possible compensation claims from elderly people forced to pay for their own long-term care costs unnecessarily.

But LTC providers are warning that the report does not change the need to cover for future care costs.

Providers point out that while the report calls for local health authorities to revisit cases where compensation may be due, it does “not open up any new ways of obtaining free long-term care”.

The report, published last week by Health Service Ombudsman Ann Abraham, said significant refunds may be due to people who wrongly paid for their own LTC costs. She said the Government criteria on who qualifies for free care are so confusing that local health authorities often have applied their own standards.

Age Concern Financial Partnerships technical manager Chris Ellicott says: “LTC insurance will still remain a very relevant option for those who could face long-term care bills. It is not possible to predict if your care needs will be such that you qualify for NHS support. Even if the NHS provides care, it may be the care you need but not necessarily in the care home you would choose.”


Standard Life Investments beefs up its team

Standard Life Investments has beefed up its team by recruiting Alasdair MacLean to its fixed interest team as a European credit analyst and Reg Watson as investment director for its global equities team. Maclean worked previously for CIBC and Watson for Threadneedle Investment Managers.

A consumer&#39s view

Unless the stockmarket perks up, which seems highly unlikely all the time that war with Iraq overshadows the investment scene, fund managers and IFAs are going to have a tricky time trying to sell stocks and shares Isas in the run-up to April 5.A recent survey by JP Morgan Fleming reveals that investor confidence has […]

Odey creates European twin

Odey Asset Management has established the Odey Pan-European fund, a Ucits that invests in Europe for capital growth. The fund is identical to the Vitruvius European equity fund, a Sicav that is managed by Odey for the Italian market. The Pan-European fund invests in a portfolio of between 65 and 70 stocks across sectors and […]

GHC goes crazy for stockpicking

tockbroker Goy Harris Cartwright (GHC) has created the stockpicker fund, an Oeic that will be managed by former Christows manager Tony Craze. Craze has been a stockpicker and fund manager for almost 40 years and is also a financial commentator for the BBC and Sky News. He joined GHC in 2002. The GHC fund will […]

The changing world of professional connections

The Legal Services Act of 2007, which opened up the legal market to competition, has put the cat among the professional pigeons. In the words of a 2015 Law Society report on what the legal profession is likely to look like in five years’ time: “Business as usual is not an option for many, if […]


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