CARE FUNDING: ONLY ONE-IN-FIVE OF OVER-50S SUPPORT THE PROPOSAL TO USE AN INSURANCE POLICY TO FUND FUTURE CARE.

EMMA SOAMES
EDITOR-AT-LARGE, SAGA MAGAZINE
PRESS RELEASE
 
March 29, 2010.
 

CARE FUNDING: ONLY ONE-IN-FIVE OF OVER-50S SUPPORT THE PROPOSAL TO USE AN INSURANCE POLICY TO FUND FUTURE CARE.

Saga, the over-50s’ holidays, lifestyle and financial services organisation commissioned independent research company Populus to survey 11,500 older people to gauge their views on the provision of social care in the UK.

Only one in five (21%) of those surveyed preferred an insurance policy approach, paid throughout their working lives, to fund care should it be required.  However, the alternative strategy of a one-off payment at retirement or death to pay for care equally lacks support: only 6% think long-term care should be funded this way.

The results show that some of the proposals expected to be included in the Care Funding White Paper may not be as popular with over-50s as ministers may hope.

Emma Soames, editor-at-large of Saga Magazine, and a trustee of the Saga Respite for Cares Trust, said: “The vast majority (84%) of over-50s are in resounding agreement that the current system of means testing is unfair.  However, the problem of how to fix the funding gap is leaving over-50s divided. 

“Half of over-50s questioned (51%) were in favour of a system that would see the government provide a set standard of care for everybody, regardless of where they live, and which could be topped up by the individual if they wish.

“The current system for the provision of care and support is widely accepted as being outdated and in many cases grossly unfair.  Saga’s research, however, clearly shows that the funding proposals debated so far are receiving a decidedly cool reception amongst over-50s.

“We hope that the proposals will include enhanced measures for the funding and quality of care, but also measures that will help redress the balance for the huge contribution made by our army of unpaid carers, who provide 24/7 care to their loved ones with little or no financial or respite support.“

Ends

Further information:

Iain Macauley
im@pressrelations.co.uk
07788 978800
www.saga.co.uk

Emma Soames, editor-at-large, was editor of Saga Magazine from 2002-2008. Previously she edited the Telegraph Magazine for seven years and before that was editor of ES Magazine, Tatler and the Literary Review. Emma is also an occasional columnist for The Daily Telegraph.