The Private Market for Long-Term Care Insurance in the United States: A Review of the Evidence |
| |
| Authors: | Jeffrey R Brown Amy Finkelstein† |
| |
| Institution: | Jeffrey R. Brown is at the University of Illinois at Urbana-Champaign and NBER;. Amy Finkelstein is at MIT and NBER. Finkelstein can be contacted via e-mail: |
| |
| Abstract: | 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. |
| |
| Keywords: | |
|
