The Care Conundrum
The COVID pandemic has highlighted the crisis facing the Social Care system in this country with growing calls for a radical change to how social care is funded.
Resolutions to the social care problem have been sought by successive governments since 1997 without success. There are some alarming statistics which make finding a solution ever more important.
Office of National Statistics projections show that in the next 22 years 1 in 5 of us will be aged over 100. By 2040, 10 million of the UK population will be aged over 75. Despite many of us living longer, a recent survey showed that only 6% of the UK has made any provision for care.
The Demos think tank, a cross party organisation, has recently suggested that a possible solution would be a partnership between individuals, their families and local authorities. Demos argues that more families must take on some responsibility for caring for their loved ones, and that this in conjunction with a form of insurance may help to pay for the ever increasing cost of care.
Demos further believes that the problem which lies beneath the underfunding of the social care system will not be solved whilst as a society we do not really respect elderly people, or working age adults with care needs.
Understanding the different ways of funding care can be bewildering. For expert help and guidance on care fees planning please get in touch with a member of our team.