The Feasibility of a Public-Private Long-Term Care Financing Plan
Bibliographic Data
| ID | 9102733 |
|---|---|
| Authors | Greg Arling (0000-0001-8563-9433, corresponding author), Shelley Hagan (Wisconsin Department of Health Services), Harald Buhaug |
| Year | 1992 |
| Volume | 30 |
| Issue | 8 |
| Pages | 699-717 |
| Publication date | 1992-08-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Medical Care (JOURNAL) |
| Journal identifiers | ISSN: 0025-7079 • E-ISSN: 1537-1948 |
| Publisher | Ovid Technologies (Wolters Kluwer Health) (PUBLISHER) |
| DOI | 10.1097/00005650-199208000-00003 |
| PMID | 1640766 |
| OpenAlex | W1964910632 |
| Language | EN |
| Citations received | 3 |
| References cited | 3 |
In this study, the feasibility of a public-private long-term care (LTC) financing plan that would combine private LTC insurance with special Medicaid eligibility requirements was assessed. The plan would also raise the Medicaid asset limit from the current $2,000 to the value of an individual's insurance benefits. After using benefits the individual could enroll in Medicaid. Thus, insurance would substitute for asset spend-down, protecting individuals against catastrophic costs. This financing plan was analyzed through a computer model that simulated lifetime LTC use for a middle-income age cohort beginning at 65 years of age. LTC payments from Medicaid, personal income and assets, Medicare, and insurance were projected by the model. Assuming that LTC use and costs would not grow beyond current projections, the proposed plan would provide asset protection for the cohort without increasing Medicaid expenditures. In contrast, private insurance alone, with no change in Medicaid eligibility, would offer only limited asset protection. The results must be qualified, however, because even a modest increase in LTC cost growth or use of care (beyond current projections) could result in substantially higher Medicaid expenditures. Also, private insurance might increase personal LTC expenditures because of the added cost of insuring
Actuarial science · Asset (computer security) · Business · Economic growth · Economics · Health care · Long-term care · Medicaid · Payment · demographic modeling and climate adaptation · Finance · Global Health Care Issues · Healthcare Policy and Management · Medicine · Nursing
| Unique citing works | 3 |
|---|---|
| Citations per year | 0,1 |
| Citation span | 1995 - 2005 (11) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 3 |