LONG­TERM CARE – A REVIEW OF GLOBAL FUNDING MODELS   

BY S. ELLIOTT, S. GOLDS, I. SISSONS, H. WILSON 

[Presented to the Institute and Faculty of Actuaries in Edinburgh, 17 March 2014]  

ABSTRACT 

This paper looks at alternative long‐term care (LTC) funding models and options.  It analyses six global models and the potential applications to the UK.  The paper provides a demographic overview for each of the six countries to illustrate the increasing global demand for LTC and the funding thereof which is becoming a global critical issue.  It examines the approaches each country has taken to address the funding issue with varying degrees of public/private co‐operation and partnerships.   The authors hope that the lessons learned from these other markets will assist the UK as they try to come to grips with their growing social care funding issue. 

KEYWORDS Long‐term care; public/private partnerships; health and social care; self‐funders