- New research from the RSA finds that one-third of people
living with multiple long-term health conditions are economically
insecure, and are £4,340 worse off than those with no health
problems.
- The pandemic and successive lockdowns have had a greater
impact on these groups: In London 18% of people with one or more
long-term conditions saw a decline in their economic security in
the first six months of the pandemic, compared to 9% of people
with no long-term conditions.
- Amid rising inflation and the recent cut to universal credit,
a new report makes the case for more support for those with long
term conditions, such as a UBI trial focusing on health and
wellbeing.
Almost two-thirds of people living with multiple long-term
conditions are unable to save money at the end of each month, a
new report finds.
Economic Security and Long-Term Conditions by the RSA
(royal society for arts, manufactures and commerce) finds that
people with long term health conditions face the greatest
adversity and challenge in achieving economic security.
Economic Security is defined by the RSA as the degree of
confidence that a person can have in maintaining a decent quality
of life now and in the future, given their economic, financial,
and social capital.
The RSA’s analysis of the Understanding Society study finds that
the diagnosis of any form of long-term medical condition on an
individual can have a significant bearing on their physical,
mental, and financial health, with the pandemic exacerbating
these effects drastically:
- Diagnosis of a long-term medical condition for individuals
severely impacts their employability, through taking time off
work for treatment, or even leaving employment altogether.
- Over half (54%) of working age people living with multiple
long-term conditions are in receipt of one or more work, housing
or disability related benefits, compared to less than a third of
those with no long-term conditions (29%).
The report also finds that those with just one long-term
condition have financial security comparable to the national
average, while those with multiple conditions are struggling
significantly. For instance:
- 23% of people with one long-term health condition were found
to have low levels of economic security, compared to 33% of
people with multiple long-term health conditions.
- The difference in mean gross annual income between those of
working age with multiple long-term conditions and those with no
long-term conditions is £4,340.
The RSA argues for a recovery that supports those living with
multiple long-term conditions, through a range of
recommendations, such as:
- Local ‘economic security hubs’ for those diagnosed with
long-term illnesses – which would provide tailored support from
local care systems, job providers and local authorities.
- Creation of a stronger safety net that supports people with
long-term health conditions, including increases to universal
credit and housing benefits, and reforming carer’s allowance.
- Exploring a Universal Basic Income (UBI) Trial specific to
the health and wellbeing of those with long-term health
conditions – which would be the first of its kind in England.
Hannah Webster, joint head of the RSA’s People and Place
programme, said:
“We know that the pandemic has been difficult for everyone, but
those living with multiple heatlh conditions are at risk of being
further left behind.
“Emerging from the pandemic, we have an opportunity to focus on
the individuals and families that live with these conditions and
take a more inclusive approach to increasing economic security
and wellbeing.
“The prospect of further lockdowns and increases in the cost of
living this winter are likely to hit those with long-term health
conditions hardest - people with long-term health conditions are
less able to cover their basic costs of living in comparison to
the general population. Without action these groups face a
devastating combination of high prices, cuts to support, and
increased strain on the services they rely on.”
Ends
Methodology:
This enquiry into the economic security of those living with
long-term conditions is largely based on RSA analysis of the most
recent data publications from the Understanding Society study.
This includes wave 10 of the main study (2018- 2020), and wave
1-6 of the Covid-19 study (April - November 2020).26,27 The data
collated considers a range of dimensions of economic security,
defined across wider work from the RSA, and explores these
experiences for those living with no, one or multiple long-term
conditions. This includes the RSA’s measure of economic security
based on respondents current financial situation and their
anticipation of the future.
To support the data analysis from Understanding Society, this
report also refers to wider contextual statistics. Each of these
are referenced as they appear in the report.
This research was supported by Impact on Urban Health.
