Private long-term care insurance and state tax incentives.
To increase the role of private insurance in financing long-term care, tax incentives for long-term care insurance have been implemented at both the federal and state levels. To date, there has been surprisingly little study of these initiatives. Using a panel of national data, we find that market take-up for long-term care insurance increased over the last decade, but state tax incentives were responsible for only a small portion of this growth. Ultimately, the modest ability of state tax incentives to lower premiums implies that they should be viewed as a small piece of the long-term care financing puzzle.
Stevenson
David G
DG
Department of Health Care Policy, Harvard Medical School, 180 Longwood Ave., Boston, MA 02115, USA. stevenson@hcp.med.harvard.edu
Frank
Richard G
RG
Tau
Jocelyn
J
D000368:Aged; D000369:Aged, 80 and over; D006078:Government Programs / Q000191:economics / Q000458:organization & administration*; D006302:Health Services Research; D006801:Humans; D007353:Insurance, Long-Term Care / Q000191:economics*; D008875:Middle Aged; D017149:Private Sector / Q000191:economics / Q000458:organization & administration*; D012737:Sex Factors; D012959:Socioeconomic Factors; D013660:Taxes / Q000191:economics* / Q000331:legislation & jurisprudence*