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Financing reform for long-term care: strategies for public and private long-term care insurance.
J Aging Soc Policy 1996; 7(3-4):109-27JA

Abstract

The way the nation provides for the financing and delivery of long-term care is badly in need of reform. The principal options for change are private insurance, altering Medicaid, and public long-term care insurance. This article uses the Brookings-ICF Long-Term Care Financing Model to evaluate each of these options in terms of affordability, distribution of benefits, and ability to reduce catastrophic out-of-pocket costs. So long as private insurance is aimed at the elderly, its market penetration and ability to finance long-term care will remain severely limited. Affordability is a major problem. Selling to younger persons could solve the affordability problem, but marketing is extremely difficult. Liberalizing Medicaid could help solve the problems of long-term care, but there is little public support for means-tested programs. Finally, universalistic public insurance programs do well in meeting the goals of long-term care reform, but all social insurance programs are expensive and seem politically infeasible in the current political environment.

Authors+Show Affiliations

Brookings Institution, Washington, DC 20036, USA.

Pub Type(s)

Journal Article

Language

eng

PubMed ID

10183219

Citation

Wiener, J M.. "Financing Reform for Long-term Care: Strategies for Public and Private Long-term Care Insurance." Journal of Aging & Social Policy, vol. 7, no. 3-4, 1996, pp. 109-27.
Wiener JM. Financing reform for long-term care: strategies for public and private long-term care insurance. J Aging Soc Policy. 1996;7(3-4):109-27.
Wiener, J. M. (1996). Financing reform for long-term care: strategies for public and private long-term care insurance. Journal of Aging & Social Policy, 7(3-4), pp. 109-27.
Wiener JM. Financing Reform for Long-term Care: Strategies for Public and Private Long-term Care Insurance. J Aging Soc Policy. 1996;7(3-4):109-27. PubMed PMID: 10183219.
* Article titles in AMA citation format should be in sentence-case
TY - JOUR T1 - Financing reform for long-term care: strategies for public and private long-term care insurance. A1 - Wiener,J M, PY - 1995/12/9/pubmed PY - 1995/12/9/medline PY - 1995/12/9/entrez SP - 109 EP - 27 JF - Journal of aging & social policy JO - J Aging Soc Policy VL - 7 IS - 3-4 N2 - The way the nation provides for the financing and delivery of long-term care is badly in need of reform. The principal options for change are private insurance, altering Medicaid, and public long-term care insurance. This article uses the Brookings-ICF Long-Term Care Financing Model to evaluate each of these options in terms of affordability, distribution of benefits, and ability to reduce catastrophic out-of-pocket costs. So long as private insurance is aimed at the elderly, its market penetration and ability to finance long-term care will remain severely limited. Affordability is a major problem. Selling to younger persons could solve the affordability problem, but marketing is extremely difficult. Liberalizing Medicaid could help solve the problems of long-term care, but there is little public support for means-tested programs. Finally, universalistic public insurance programs do well in meeting the goals of long-term care reform, but all social insurance programs are expensive and seem politically infeasible in the current political environment. SN - 0895-9420 UR - https://www.unboundmedicine.com/medline/citation/10183219/Financing_reform_for_long_term_care:_strategies_for_public_and_private_long_term_care_insurance_ L2 - http://www.tandfonline.com/doi/full/10.1300/J031v07n03_07 DB - PRIME DP - Unbound Medicine ER -