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Partnership program for long-term care insurance: the right model for addressing uncertainties with the future?

Bergquist, Savannah, Costa-Font, Joan and Swartz, Katherine (2016) Partnership program for long-term care insurance: the right model for addressing uncertainties with the future? Ageing and Society, 36 (9). pp. 1779-1793. ISSN 0144-686X

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Identification Number: 10.1017/S0144686X15000793

Abstract

Public policies that provide incentives for higher middle-income people to purchase private long-term care insurance (LTCI) have been proposed as a way to shield large numbers of middle-income people from the risk of needing costly long-term care. A proposal to promote purchases of private LTCI that has gained modest traction in the United States of America is the Partnership Program. The structure and public–private nature of the Partnership Programs are reviewed along with the trends in sales of both regular private LTCI policies and Partnership LTCI policies to show that both experienced low purchase rates. Implementation efforts for the Partnership Programs were very modest, in part because many were launched when the Affordable Care Act was passed. At the same time, several well-known insurers withdrew from selling private LTCI. Understanding why the Partnership Program is not a success provides lessons for other counties interested in creating similar public–private ventures.

Item Type: Article
Official URL: http://journals.cambridge.org/action/displayJourna...
Additional Information: © 2015 Cambridge University Press
Divisions: European Institute
Social Policy
Centre for Economic Performance
Subjects: H Social Sciences > H Social Sciences (General)
Sets: Departments > European Institute
Departments > Social Policy
Research centres and groups > Centre for Economic Performance (CEP)
Research centres and groups > LSE Health and Social Care
Date Deposited: 19 Jun 2015 14:34
Last Modified: 20 Sep 2019 02:06
URI: http://eprints.lse.ac.uk/id/eprint/62369

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