The private market for long-term care insurance in the United States: A review of the evidence

Jeffrey R. Brown, Amy Finkelstein

Research output: Contribution to journalArticle

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.

Original languageEnglish (US)
Pages (from-to)5-29
Number of pages25
JournalJournal of Risk and Insurance
Volume76
Issue number1
DOIs
StatePublished - Feb 10 2009

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ASJC Scopus subject areas

  • Accounting
  • Finance
  • Economics and Econometrics

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