Who Wants Long-Term Care Insurance? A Stated Preference Survey of Attitudes, Beliefs, and Characteristics

Dados Bibliográficos

ID13775225
AutoresBenjamin T Allaire (0000-0002-7033-2129, RTI International, Research Triangle Park, NC, USA, autor correspondente), Derek S Brown (0000-0001-9908-9882, Washington University in St. Louis, MO, USA), Joshua M Wiener (0000-0002-4926-968X, RTI International, Research Triangle Park, NC, USA)
Ano2016
Volume53
Data de publicação2016-01-01
Peer ReviewedSim
Open AccessSim
TipoARTICLE
PeriódicoINQUIRY The Journal of Health Care Organization Provision and Financing (JOURNAL)
Identificadores do periódicoISSN: 0046-9580 • E-ISSN: 1945-7243
EditoraSAGE Publishing (PUBLISHER • US)
DOI10.1177/0046958016663728
PMID27530238
OpenAlexW2517506351
IdiomaEN
Citações recebidas5
Referências citadas14

Approximately half of people turning 65 years between 2015 and 2019 are projected to need long-term support and services. Yet the long-term care insurance (LTCI) market is depressed, with only 7.4 million people owning policies. The objective of this study was to provide an analysis of potential LTCI purchasers. We investigate (1) who wants to purchase LTCI, (2) what are the attitudes and beliefs among those who have a preference for LTCI, and (3) who would prefer a law mandating the purchase of LTCI and how that view relates to willingness to purchase LTC. We combine a discrete choice experiment with a survey on attitudes toward LTCI. We estimate odds ratio for choosing a plan based on sociodemographic characteristics, attitudes, and beliefs. Our sample consists of a population of 12 936 people who completed an Internet panel survey. Female respondents were substantially less likely to choose an LTCI plan (OR = 0.74). Income and assets over $100 000 were strong predictors of LTCI uptake (OR = 1.27 and OR = 1.48, respectively). Having adult children live close by was not associated with preference for LTCI. People who support almost any government intervention are more likely to purchase private insurance (OR = 1.12-1.33). Minorities expressed a preference for mandatory enrollment relative to whites. There is a relationship between attitudes toward long-term care financing reform and preference for LTCI, but it is not limited to supporters of private sector initiatives. While support for mandatory LTCI is low overall, it is strongest among racial/ethnic minorities and people with health problems, who potentially have the most to gain

Actuarial science · Business · Demographic economics · Economics · Environmental health · Government (linguistics · Logistic regression · Long-term care · Long-term care insurance · Odds · Point (geometry · Population · Preference · Sample (material · Geriatric Care and Nursing Homes · Global Health Care Issues · Healthcare Policy and Management · Medicine · Nursing