The Next Frontier of American Health Insurance: A Panel Analysis of the Long-Term Care Insurance Market
Poster Number
2
Format
Poster Presentation
Faculty Mentor Name
Michelle Amaral
Faculty Mentor Department
Economics
Abstract/Artist Statement
For at least 25 years, the rate of ownership of long-term care insurance (LTCI) has remained steadily low. This trend has continued despite Americans living longer, and thus requiring more years of long-term care services. The purpose of this research is to merge two schools of thought that attempt to explain the stable, but low, ownership rate of LTCI policies. These two schools fall into factors of cost and family/experience. Using the University of Michigan’s Health and Retirement Study, a logistic panel regression was created to measure the relative impact of both cost and non-cost variables. In the end, the results seem to indicate that family life and experiences are a stronger indicator of LTCI ownership than the individual's financial situation.
Location
DeRosa University Center, Ballroom
Start Date
30-4-2016 10:00 AM
End Date
30-4-2016 12:00 PM
The Next Frontier of American Health Insurance: A Panel Analysis of the Long-Term Care Insurance Market
DeRosa University Center, Ballroom
For at least 25 years, the rate of ownership of long-term care insurance (LTCI) has remained steadily low. This trend has continued despite Americans living longer, and thus requiring more years of long-term care services. The purpose of this research is to merge two schools of thought that attempt to explain the stable, but low, ownership rate of LTCI policies. These two schools fall into factors of cost and family/experience. Using the University of Michigan’s Health and Retirement Study, a logistic panel regression was created to measure the relative impact of both cost and non-cost variables. In the end, the results seem to indicate that family life and experiences are a stronger indicator of LTCI ownership than the individual's financial situation.