Plans for ‘fairer’ care funding system outlined

The government has outlined proposals and details on how its new care funding system will be fairer and less expensive for patients.

A new consultation on the plans has confirmed that the reforms will introduce a 72,000 pound cap on eligible care costs, additional financial help for people of modest wealth and a scheme to prevent anyone having to sell their home in their lifetime.

Moreover, financial advice will be given to help everyone understand their needs and plan for the future, while annual care account statements will be issued to help people keep track of costs.

Other initiatives include the option of joining a not-for-profit deferred payment scheme, relevant new products from the financial services sector and a joint programme to ensure successful and sustainable delivery of the reforms.

Care and support minister Norman Lamb said: "No one wants to face an unknown future. This overhaul of the way care is paid for gives people the certainty and peace of mind we all deserve."

The government is also looking to improve standards by introducing Ofsted-style ratings for hospitals and care homes to ensure compassionate care is safeguarded.