Long-term care represents one of the largest uninsured financial risks facing the elderly in the United States. Whether … knowledge the first empirical evidence on the pricing and benefit structure of long-term care insurance policies. We estimate … benefit structure, covering only one-third of the expected present discounted value of long-term care expenditures. These …

Despite the presence of Medicare, out-of-pocket medical spending is a large expenditure risk facing the elderly. While … women live longer than men, elderly women incur higher out-of-pocket medical spending than men at each age. In this paper …

The highly uneven distribution of Medicare payments among elderly beneficiaries, combined with the predictability of … Medicare payments for the care of individual beneficiaries persist over long time periods. Our analysis is based on a …

examine the interaction of the public Medicaid program with the private market for long-term care insurance and estimate that …

drop their long-term care insurance contracts relative to those who are continually insured. Consistent with dynamic …

In spite of the large expected costs of needing long-term care, only 10-12 percent of the elderly population has … private insurance coverage. Medicaid, which provides means-tested public assistance and pays for almost half of long-term care … costs, spends more than $100 billion annually on long-term care. In this paper, I exploit variation in the adoption and …