Funding Long-Term Care Applications of the Trade-Off Principle in Both Public and Private Sectors

• Published in: Journal of aging and health Vol. 15; no. 1; pp. 15 - 44
• Main Author: Chen, Yung-Ping
• Format: Journal Article
• Language: English
• Published: Thousand Oaks, CA Sage Publications 01.02.2003; SAGE PUBLICATIONS, INC
• Subjects: Aged; Baby boomers; Economic models; Financing, Government - economics; Health Care Services Policy; Health Expenditures; Health Insurance; Health technology assessment; Humans; Insurance Coverage - economics; Insurance, Long-Term Care - economics; Long Term Care; Long term health care; Long-Term Care - economics; Medicaid; Medicaid - economics; Medicare; Models, Economic; Policy Reform; Private Sector - economics; Psychology; Public Sector - economics; Social Security; Social Security - economics; United States; United States; baby boomers; private insurance; behavioral economics; cognitive psychology; long-term care; social insurance

The uncertain need for long-term care services is a risk best protected by insurance. However, the current funding relies heavily on personal payment and public welfare, and only lightly on social and private insurances. This method, akin to sitting on a two-legged stool, is unlikely to be sustainab...