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Long-term care: a suitable case for social insurance

By Nicholas Barr

Abstract

There are potentially large welfare gains if people can buy insurance that covers the costs of long-term care. However, technical problems - largely information problems - face both the providers of insurance and potential buyers. These problems on both the supply and demand sides of the market suggest that the actuarial mechanism is not well suited to addressing risks associated with long-term care. This line of argument underpins the article's main conclusion - that social insurance is a better fi

Topics: R Medicine (General), RT Nursing, H Social Sciences (General)
Publisher: Wiley-Blackwell Publishing
Year: 2010
DOI identifier: 10.1111/j.1467-9515.2010.00718.x
OAI identifier: oai:eprints.lse.ac.uk:28942
Provided by: LSE Research Online

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