【主讲】孙伟 (中国人民大学)
【主题】Long-Term Care Insurance, Medicaid and Public Policies
【时间】2014年12月24日 (周三) 15：30-17：00
【地点】上海财经大学经济学院楼602室
【语言】英文
【摘要】The cost of nursing home represents a substantial financial risk for the elderly. Yet, data from the Health and Retirement Study (HRS) shows that only about 10 percent of older individuals purchase long-term care insurance (LTCI) to hedge the risk, with many of the reminder relying on Medicaid, the public health program for the poor. Using the HRS data, I estimate a structural model of LTCI purchase decisions. I find that this population has a modest preference for higher quality nursing home care and a low bequest motive. Thus, Medicaid crowds out LTCI. I evaluate two current public policies designed to stimulate the take-up of LTCI and to cut Medicaid expenditure. I show that both tax subsidies and long-term care partnership policies would modestly increase insurance coverage and are most likely to increase, rather than reduce, Medicaid costs. Finally, I discuss several potential public policies that could achieve the two goals at the same time.
