The Government has launched its commission on long-term care and appointed economist and broadcaster Andrew Dilnot as its chair.
The Commission on the Funding of Care and Support will look at a range of funding ideas including both voluntary insurance and partnership schemes, reporting within a year.
Two further commissioners have also been appointed, Lord Norman Warner and Dame Jo Williams.
The commission will look at the best way to meet care and support costs as a partnership between individuals and the state, how an individualâ€™s assets are protected against the cost of care, how public funding for the care and support system can be best used to meet needs and how to deliver the chosen option, including timescales and impact on local government.
Health Secretary Andrew Lansley says: â€œBy 2026, the number of 85 year olds is projected to double. In the next 20 years we estimate that 1.7 million more people will have a potential care need than today.
â€œWe know that one in five 65 year olds today will need care costing more than Â£50,000, which could force many to sell family homes. The answer is clear - we must develop a funding system for adult care and support that offers choice, is fair, provides value for money and is sustainable for the public finances in the long term.â€
Andrew Dilnot adds: â€œThere are not going to be any easy answers, and I know difficult decisions will have to be made. However, I am looking forward to examining all the issues, and listening to the ideas of those who have been working on care and support over the past few years. This has been a hotly debated topic over recent months. It is now my job to consider the best way forward and offer concrete recommendations to Government.â€
Dilnot was director of the Institute for Fiscal Studies from 1991 to 2002 and has been a member of the board of the National Consumer Council and of the Office of Science and Technology Review of the use of science in the Office of the Deputy Prime Minister.
He has served on the Social Security Advisory Committee, the Retirement Income Inquiry, the Balance of Central and Local Government Funding Inquiry, the Rowntree Committee on the future costs of long term care and the Ageing Population Foresight panel.
Dilnot is principal of St Hughâ€™s College, Oxford and a pro vice chancellor of Oxford University.
He was also presenter of BBC Radio 4â€™s series â€™More or Lessâ€™.