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Danail Vasilev, Researcher at Reform, wrote an article in Public Finance following the launch of Funding social care: the role of deferred payment agreements.
Care home places are largely in demand by those who are over the age of 75. This group has considerable housing wealth but will struggle to access this capital. Deferred payment agreements offers a solution to this problem, a policy useful for the individual and also aligns with the government’s commitment to fiscal sustainability.
“While a new funding model is being evaluated by the government, steps to alleviate pressures in the short term must be taken. Deferred payments offer value at low cost.”
Read the full article here.