The brief’s key findings are: *Long-term care is expensive, but only 13 percent of single individuals over 65 have long-term care insurance. *Previous models of care usage appear to understate the risk of going into care and overstate the duration of care for those who require it. *If...

Long-term care is one of the major expenses faced by many older Americans. Yet, we have only limited information about the risk of needing long-term care and the expected duration of care. The expectations of needing to receive home health care, live in an assisted living facility or live in a...

Work affects both the time available for non-market activities and the times at which those activities are performed – and therefore work-induced constraints on time use may influence retirement decisions. We analyze these effects by combining new data from the American Time Use Survey with...

This brief seeks to answer the question in the title by analyzing data from the Health and Retirement Study (HRS), a nationally representative survey of older Americans. New questions in the HRS enable researchers to compare the value that workers place on health insurance with their perceptions...

Although long-term care costs represent a substantial financial risk for retired households, few purchase insurance. Previous research shows that it would not be optimal for most single individuals to purchase coverage, due to crowd-out by the means-tested partial insurance provided by Medicaid....

Long-term care is one of the major expenses faced by many older Americans. Yet, we have only limited information about the risk of needing long-term care and the expected duration of care. The expectations of needing to receive home health care, live in an assisted living facility or live in a...

The expectation of needing long-term care is an essential input into optimal saving and long-term care insurance decisions. Previous optimization models have used the Robinson (2002) transition probabilities, which have not been systematically updated and which underpredict the use of care while...

Compared with prime-age workers, older workers face an easier path out of the labor force if they lose their jobs during a recession. However, premature job exits or earnings losses in the years leading up to retirement may be particularly devastating to retirement savings. The authors analyze...