Motivations and Barriers to the Purchase of Long-term Care Insurance PDF Download

Author: Wei Zhang
Publisher:
ISBN:
Category :
Languages : en
Pages : 154

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Author: John L. Selstad
Publisher:
ISBN:
Category : Health maintenance organizations
Languages : en
Pages : 4

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Author: United States. Congress. Senate. Special Committee on Aging
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 260

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Book Description

Author: United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Commerce, Consumer Protection, and Competitiveness
Publisher:
ISBN:
Category : Government publications
Languages : en
Pages : 186

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Author: Martin Boyer
Publisher:
ISBN:
Category : Adverse selection (Insurance)
Languages : en
Pages : 57

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Book Description
We conduct a stated-choice experiment where respondents are asked to rate various insurance products aimed to protect against financial risks associated with long-term care needs. Using exogenous variation in prices from the survey design, and objective risks computed from a dynamic microsimulation model, these stated-choice probabilities are used to predict market equilibrium for long-term care insurance using the framework developped by Einav et al. (2010). We investigate in turn causes for the low observed take-up of long-term care insurance in Canada despite substantial residual out-of-pocket financial risk. We first find that awareness and knowledge of the product is low in the population: 44% of respondents who do not have long-term care insurance were never offered this type of insurance while overall 31% report no knowledge of the product. Although we finnd evidence of adverse selection, results suggest it plays a minimal role in limiting take-up. On the demand side, once respondents have been made aware of the risks, we finnd that demand remains low, in part because of misperceptions of risk, lack of bequest motive and home ownership which may act as a substitute.

Author: David Landes
Publisher:
ISBN: 9781555166779
Category : Health insurance
Languages : en
Pages : 29

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Book Description
This booklet discusses the potential importance to states of long-term care insurance, describes general policy characteristics, and summarizes state actions to both regulate and promote long-term care insurance. It is intended as a resource for legislators and others involved in long-term care financing and public policy formulation. Long-term care insurance is defined as an emerging private financing mechanism for long-term care services--services that are required due to a chronic illness or a condition lasting over a prolonged period of time. It is noted that currently government payment is available through Medicaid only for the poor or for those who have depleted all their own resources, and that states have begun searching for ways to limit the amount of assets that must be spent before becoming eligible for Medicaid. The answers to the following seven questions are discussed in detail: (1) What are long-term care and long-term care insurance?; (2) Why is long-term care insurance an important issue for state legislatures?; (3) What types of long-term care insurance policies are available?; (4) What are the barriers to the expansion of long-term care insurance?; (5) What have states done to regulate the sale and content of long-term care insurance policies?; (6) What have states done to encourage the sale of long-term care insurance?; and (7) What is the future of long-term care insurance? References are included in 72 end notes. (Author/ABL)

Author: Haizhen Lin
Publisher:
ISBN:
Category :
Languages : en
Pages : 0

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Book Description
The Partnership long-term care (PLTC) insurance program is a major initiative partnering state Medicaid programs and private insurers in an attempt in increase take-up of long-term care insurance by older Americans. Prior work has shown that, while the program is aimed at middle-wealth individuals, it is only wealthy individuals who are participating. Any attempt to alter the participating demographics must be informed by the determinants of individuals' participation (beyond just their wealth) in order to be successful. In this paper, we assess several possible determinants of participation in the PLTC program - bequest motives, financial literacy, and program awareness. We find mild evidence that intent to bequest influences individual purchases of the partnership program. However, we find strong evidence that program awareness is necessary for response while financial literacy notably increases responsiveness. These findings suggest that increasing response to the program among the middle class (the stated target group) requires increased education about the program's benefits and increased efforts to create awareness of the program existence, at least among the middle class.

Author: Institute of Medicine
Publisher: National Academies Press
ISBN: 0309076099
Category : Medical
Languages : en
Pages : 204

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Book Description
Roughly 40 million Americans have no health insurance, private or public, and the number has grown steadily over the past 25 years. Who are these children, women, and men, and why do they lack coverage for essential health care services? How does the system of insurance coverage in the U.S. operate, and where does it fail? The first of six Institute of Medicine reports that will examine in detail the consequences of having a large uninsured population, Coverage Matters: Insurance and Health Care, explores the myths and realities of who is uninsured, identifies social, economic, and policy factors that contribute to the situation, and describes the likelihood faced by members of various population groups of being uninsured. It serves as a guide to a broad range of issues related to the lack of insurance coverage in America and provides background data of use to policy makers and health services researchers.

Author: Darlene Yee-Melichar, EdD, FGSA, FAGHE
Publisher: Springer Publishing Company
ISBN: 0826195687
Category : Medical
Languages : en
Pages : 389

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Book Description
"This concise guide to long-term services and supports introduces a broad array of topics and presents ideas on how to get more extensive information... A variety of graphs, tables, and charts make the information easy to understand. Overall the book is well-organized with chapters that can stand on their own... Readers considering going into long-term care management or administration would find this book a valuable tool."--Doodyís Medical Reviews This is a comprehensive reference for long-term care administrators, practitioners and students who want to understand the options, issues, and trends related to the effective administration and management of long-term care communities. The book is unique in its in-depth focus on what needs to be accomplished and the evidence-based information about what actually works. Multifaceted insights address the ever-changing world of the long-term care industry and offer best practices and model programs in eldercare. This multidisciplinary book covers the most crucial aspects of management including federal and/or state regulations required to provide long-term care services and operate long-term care communities. It offers advice on care at home, naturally occurring retirement communities, and continuing care retirement communities, client care, staff retention, preventing elder abuse and neglect, anticipating and managing litigation and arbitration in long-term care, aging and human diversity, Alzheimerís Disease, palliative care, care transitions, and much more. Distilling many years of practical, research and teaching experience, the authors provide the necessary tools and tips that will enable professionals to maximize the quality of care and the quality of life for older adults living in long-term care communities. Each chapter includes helpful pedagogical features such as learning objectives, case studies, effective practices, and/or model programs in eldercare. Key Features: Based on federal and/or state regulations required to provide long-term care services and operate long-term care communities Examines the complex operations of long-term care options for effective eldercare Highlights the most cost-effective practices and model programs in long-term care communities that are currently used throughout the United States Provides useful tips about client care and staff retention as well as marketing and census development, financing and reimbursement, and legal issues Promotes innovative collaboration between education, research, and practice that is reflected by the training of the editors and contributing authors

Author: John Piggott
Publisher: Elsevier
ISBN: 0444634045
Category : Social Science
Languages : en
Pages : 1146

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Book Description
Handbook of the Economics of Population Aging synthesizes the economic literature on aging and the subjects associated with it, including social insurance and healthcare costs, both of which are of interest to policymakers and academics. These volumes, the first of a new subseries in the Handbooks in Economics, describe and analyze scholarship created since the inception of serious attention began in the late 1970s, including information from general economics journals, from various field journals in economics, especially, but not exclusively, those covering labor markets and human resource issues, from interdisciplinary social science and life science journals, and from papers by economists published in journals associated with gerontology, history, sociology, political science, and demography, amongst others. Dissolves the barriers between policymakers and scholars by presenting comprehensive portraits of social and theoretical issues Synthesizes valuable data on the topic from a variety of journals dating back to the late 1970s in a convenient, comprehensive resource Presents diverse perspectives on subjects that can be closely associated with national and regional concerns Offers comprehensive, critical reviews and expositions of the essential aspects of the economics of population aging