The government may be stepping in to allow older people in the UK to keep their retirement living residences and maintain medical care provisions by subsidizing the costs of long-term care.
Ministers are looking at several options, including an insurance plan that would be paid throughout one's career, or a one-time payment by retirees that would pay for a fraction of the cost while the government handles the remainder of care-based expenses, according to the Daily Telegraph.
Forty percent of seniors currently pay their own way if they wish to receive long-term care, and up to 45,000 people had to sell their homes to pay for those costs, reported the news provider.
A one-time 12,000 pound levy would be equivalent to one-quarter of what seniors currently pay each year for services, according to the Daily Express.
"It would be a social insurance scheme and a way of people sharing the risk and the cost of care," Stephen Burke, Counsel and Care chief executive, told the news provider.
"We are facing a massive funding shortfall at the moment."