The Private Market for Long-Term Care Insurance in the United States: A Review of the Evidence
This article reviews the growing literature on the market for private long-term care insurance, a market notable for its small size despite the fact that long-term care expenses are potentially large and highly uncertain. After summarizing long-term care utilization and insurance coverage in the United States, the article reviews research on the supply of and the demand for private long-term care insurance. It concludes that demand-side factors impose important limits on the size of the private market and that we currently have a limited understanding of how public policies could be designed to encourage the growth of this market. Copyright (c) The Journal of Risk and Insurance, 2009.
Year of publication: |
2009
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Authors: | Brown, Jeffrey R. ; Finkelstein, Amy |
Published in: |
Journal of Risk & Insurance. - American Risk and Insurance Association - ARIA, ISSN 0022-4367. - Vol. 76.2009, 1, p. 5-29
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Publisher: |
American Risk and Insurance Association - ARIA |
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