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The importance of employer sponsorship in the long-term care insurance market.
J Aging Soc Policy 2004; 16(2):67-84JA

Abstract

Medicare and Medicaid are major sources of long-term care payments and thus will bear much of the burden from the growth in long-term care service use. The large future demand for long-term care services is of great concern among policymakers due to its expense and the use of public program dollars. It is argued that the individual purchase of long-term care insurance can help alleviate the increasing financial pressure on public programs responsible for the majority of longterm care financing. However, consumers have shown little interest in insuring against the high costs of long-term care. This analysis examines the effect of several factors on the decision to purchase a long-term care insurance policy: knowledge and attitudes of long-term care insurance and the long-term care financing system, the perceived risk for longterm care, financial planning behavior, and the availability of long-term care insurance. The interim results indicate the factor most likely to affect the decision to purchase long-term care insurance is access to employer-sponsored long-term care insurance. This suggests tht the availability of affordable and high quality coverage is more important than demand-side factors such as awareness of long-term care insurance and a perceived greater risk for long-term care.

Authors+Show Affiliations

Maryland Department of Health and Mental Hygiene, USA. NSwamy@northropgrumman.com

Pub Type(s)

Journal Article
Review

Language

eng

PubMed ID

15148045

Citation

Swamy, Namratha. "The Importance of Employer Sponsorship in the Long-term Care Insurance Market." Journal of Aging & Social Policy, vol. 16, no. 2, 2004, pp. 67-84.
Swamy N. The importance of employer sponsorship in the long-term care insurance market. J Aging Soc Policy. 2004;16(2):67-84.
Swamy, N. (2004). The importance of employer sponsorship in the long-term care insurance market. Journal of Aging & Social Policy, 16(2), pp. 67-84.
Swamy N. The Importance of Employer Sponsorship in the Long-term Care Insurance Market. J Aging Soc Policy. 2004;16(2):67-84. PubMed PMID: 15148045.
* Article titles in AMA citation format should be in sentence-case
TY - JOUR T1 - The importance of employer sponsorship in the long-term care insurance market. A1 - Swamy,Namratha, PY - 2004/5/19/pubmed PY - 2004/6/4/medline PY - 2004/5/19/entrez SP - 67 EP - 84 JF - Journal of aging & social policy JO - J Aging Soc Policy VL - 16 IS - 2 N2 - Medicare and Medicaid are major sources of long-term care payments and thus will bear much of the burden from the growth in long-term care service use. The large future demand for long-term care services is of great concern among policymakers due to its expense and the use of public program dollars. It is argued that the individual purchase of long-term care insurance can help alleviate the increasing financial pressure on public programs responsible for the majority of longterm care financing. However, consumers have shown little interest in insuring against the high costs of long-term care. This analysis examines the effect of several factors on the decision to purchase a long-term care insurance policy: knowledge and attitudes of long-term care insurance and the long-term care financing system, the perceived risk for longterm care, financial planning behavior, and the availability of long-term care insurance. The interim results indicate the factor most likely to affect the decision to purchase long-term care insurance is access to employer-sponsored long-term care insurance. This suggests tht the availability of affordable and high quality coverage is more important than demand-side factors such as awareness of long-term care insurance and a perceived greater risk for long-term care. SN - 0895-9420 UR - https://www.unboundmedicine.com/medline/citation/15148045/The_importance_of_employer_sponsorship_in_the_long_term_care_insurance_market_ L2 - http://www.tandfonline.com/doi/full/10.1300/J031v16n02_05 DB - PRIME DP - Unbound Medicine ER -