OAP social care costs 'to double' (From Hampshire Chronicle)

OAP social care costs 'to double'

12:42am Tuesday 16th March 2010 in

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The cost of social care for the elderly is set to double in the next 15 years just to maintain current standards, according to a report by the King's Fund.

New research by the think-tank found that the bill, projected to reach £8.1 billion in 2015, would hit £12.1 billion in 2026.

Should the Government introduce universal free social care for the elderly, costs would rise to £16.8 billion by 2016, it said.

The King's Fund called for a "partnership" model, whereby half of everyone's care was met by the state, which would also match every £2 spent by the individual with an additional £1.

That would cost £10.1 billion in 2015 and £15.5 billion in 2026, the think tank said.

But it would also halve the amount of people in need of care but unable to access it by 2015. With the status quo, unmet need will continue to rise.

The publication, an update of the Wanless report in 2006 which initially proposed the partnership model, comes amid intense political debate about the way forward on elderly social care.

Inter-party talks on the issue recently broke down over the issue of compulsory payments, or what the Tories described as a "death tax".

Health Secretary Andy Burnham has ruled out the prospect of a £20,000 flat-rate levy on estates after an individual's death, but is considering a percentage levy, perhaps at 10%.

The Tories are proposing a voluntary insurance scheme, which they say could be charged at about £8,000 on retirement.