The complementarity of public and private long-term care coverage.
Discussions about long-term care financing often get mired in the false dichotomy that long-term care should be primarily either a public or a private responsibility. Our starting premise is that public and private long-term care coverage can best serve complementary roles. Therefore, public policy should focus on supporting both mechanisms to achieve efficient and equitable outcomes. The current state of the private long-term care insurance market, and the possible reasons for its modest size, provide a starting point for exploring how public policy might interface more productively with it, in the context of both existing and potential programs, such as the proposed Community Living Assistance Services and Supports (CLASS) Act.
Stevenson
David G
DG
Harvard Medical School, Boston, Massachusetts, USA. stevenson@med.harvard.edu
Cohen
Marc A
MA
Tell
Eileen J
EJ
Burwell
Brian
B
D003258:Consumer Behavior / Q000706:statistics & numerical data; D018166:Health Care Reform; D006297:Health Services Accessibility / Q000191:economics* / Q000592:standards; D006302:Health Services Research; D006801:Humans; D007221:Industry / Q000706:statistics & numerical data* / Q000639:trends; D019458:Insurance Coverage; D007353:Insurance, Long-Term Care / Q000191:economics / Q000331:legislation & jurisprudence*; D008484:Medicaid / Q000191:economics / Q000706:statistics & numerical data; D017149:Private Sector; D011640:Public Policy; D017150:Public Sector; D011907:Rate Setting and Review / Q000592:standards; D012179:Retirement; D012923:Social Class; D014481:United States