nep-ias New Economics Papers
on Insurance Economics
Issue of 2005‒08‒20
one paper chosen by
Soumitra K Mallick
Indian Institute of Social Welfare and Bussiness Management

  1. Is Private Long-Term Care Insurance the Answer? By Richard w. Johnson; Cori Uccello

  1. By: Richard w. Johnson (Urban Institute); Cori Uccello (Urban Institute)
    Abstract: As the population ages, more Americans than ever before will need long-term care. The cost of providing services is already straining government and family budgets, and costs are expected to soar in a few decades when the Baby Boomers begin to reach their 80s. One option often touted as a possible solution to the looming crisis is to promote private insurance coverage of long-term care needs. This brief describes private long-term care insurance and some of the advantages and limitations of coverage. Despite ongoing efforts to promote private long-term care insurance, widespread coverage faces a number of important hurdles, including affordability, uncertainty about future premium increases, and the disincentives created by the Medicaid safety net.
    Keywords: baby boomers, long-term care, insurance, aging
    JEL: J14
    Date: 2005–03

This nep-ias issue is ©2005 by Soumitra K Mallick. It is provided as is without any express or implied warranty. It may be freely redistributed in whole or in part for any purpose. If distributed in part, please include this notice.
General information on the NEP project can be found at For comments please write to the director of NEP, Marco Novarese at <>. Put “NEP” in the subject, otherwise your mail may be rejected.
NEP’s infrastructure is sponsored by the School of Economics and Finance of Massey University in New Zealand.