Kopecky, Karen A.

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Author: Braun, R. Anton ×

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  • Publication
    Reforming the US Long-Term Care Insurance Market
    (2024-10-03) Braun, R. Anton; Kopecky, Karen A.
    Nursing home risk is significant and costly. Yet, most Americans pay for long-term care (LTC) expenses out-of-pocket. This chapter examines reforms to both public and private LTCI provision using a structural model of the US LTCI market. Three policies are considered: universal public LTCI, no public LTCI coverage, and a policy that exempts asset holdings from the public insurance asset test on a dollar-for-dollar basis with private LTCI coverage. We find that this third reform enhances social welfare and creates a vibrant private LTCI market while preserving the safety-net provided by public insurance to low-income individuals.