Demand-Side Factors Associated with the Purchase of Long-Term Care Insurance

Q3 Economics, Econometrics and Finance

Forum for Health Economics and Policy Pub Date : 2016-06-01 DOI:10.1515/fhep-2014-0020

M. Unruh, D. Stevenson, R. Frank, Marc Cohen, D. Grabowski

引用次数: 4

Abstract

Abstract Demand-side barriers are known to be important toward explaining the limited purchase of private long-term care insurance (LTCI). In this study, we examine several factors associated with the demand for LTCI including the availability of less costly substitutes (e.g., Medicaid, family), consumer information, and risk perception. Using buyer surveys from 2000, 2005, and 2010, our results suggest that, among individuals not eliminated through medical underwriting, consumer risk perception and the presence of lower cost, imperfect substitutes are strongly associated with the limited purchase of LTCI. These factors were also predictive of the generosity of coverage purchased. If policymakers seek to stimulate demand for LTCI, new public policies might include Medicaid reform, integrating LTCI with Medicare Advantage plans, enhanced LTCI offerings through employers, and targeted informational campaigns.

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与购买长期护理保险相关的需求方因素

摘要需求侧障碍被认为是解释有限购买私人长期护理保险(LTCI)的重要因素。在本研究中，我们研究了与LTCI需求相关的几个因素，包括成本较低的替代品的可用性(例如，医疗补助，家庭)，消费者信息和风险感知。利用2000年、2005年和2010年的购买者调查，我们的结果表明，在未通过医疗保险淘汰的个人中，消费者风险感知和较低成本的存在，不完全替代品与有限购买LTCI密切相关。这些因素也预示着购买保险的慷慨程度。如果政策制定者寻求刺激对LTCI的需求，新的公共政策可能包括医疗补助改革，将LTCI与医疗保险优势计划整合，通过雇主加强LTCI服务，以及有针对性的信息宣传活动。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Forum for Health Economics and Policy Economics, Econometrics and Finance-Economics, Econometrics and Finance (miscellaneous)

CiteScore

1.60

自引率

0.00%

发文量

期刊介绍： Forum for Health Economics & Policy (FHEP) showcases articles in key substantive areas that lie at the intersection of health economics and health policy. The journal uses an innovative structure of forums to promote discourse on the most pressing and timely subjects in health economics and health policy, such as biomedical research and the economy, and aging and medical care costs. Forums are chosen by the Editorial Board to reflect topics where additional research is needed by economists and where the field is advancing rapidly. The journal is edited by Katherine Baicker, David Cutler and Alan Garber of Harvard University, Jay Bhattacharya of Stanford University, Dana Goldman of the University of Southern California and RAND Corporation, Neeraj Sood of the University of Southern California, Anup Malani and Tomas Philipson of University of Chicago, Pinar Karaca Mandic of the　University of Minnesota, and John Romley of the University of Southern California. FHEP is sponsored by the Schaeffer Center for Health Policy and Economics at the University of Southern California. A subscription to the journal also includes the proceedings from the National Bureau of Economic Research''s annual Frontiers in Health Policy Research Conference. Topics: Economics, Political economics, Biomedical research and the economy, Aging and medical care costs, Nursing, Cancer studies, Medical treatment, Others related.