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Comment – Is Self‑Insurance for Long‑Term Care Risk a Solution?

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  • Jérôme Wittwer

Abstract

[eng] The financial risk associated with long‑term care (LTC) is partially insured in France and in all European countries. However, the level of coverage across all countries is significantly lower compared to health risk. Public coverage varies widely from country to country, although in most cases households are left to bear a significant proportion of the cost burden. Since LTC risk occurs at the end of life, the use by households of their financial and housing assets to finance their LTC expenses – in other words, self‑insurance – may appear as one solution. Using data from the SHARE survey, the study by Carole Bonnet, Sandrine Juin and Anne Laferrère aims to address this question head‑on and to assess the extent to which self‑insurance could meet the financing needs of long‑term care in Europe. This comment considers the approach taken by the authors before discussing the implications of their analysis.

Suggested Citation

  • Jérôme Wittwer, 2019. "Comment – Is Self‑Insurance for Long‑Term Care Risk a Solution?," Economie et Statistique / Economics and Statistics, Institut National de la Statistique et des Etudes Economiques (INSEE), issue 507-508, pages 25-30.
    • Handle: RePEc:nse:ecosta:ecostat_2019_507-508_2
    DOI: https://doi.org/10.24187/ecostat.2019.507d.1973
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    More about this item

    JEL classification:

    • J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • I13 - Health, Education, and Welfare - - Health - - - Health Insurance, Public and Private
    • C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods

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