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Impact of the Introduction of the Social Long-Term Care Insurance in Germany on Financial Security Assessment in Case of Long-Term Care Need*

Author

Listed:
  • Andy Zuchandke

    (Institute for Risk and Insurance, Leibniz Universit&aauml;t Hannover, Königsworther Platz 1, Hannover, Niedersachsen D-30167, Germany)

  • Sebastian Reddemann

    (Center for Risk and Insurance, Leibniz Universit&aauml;t Hannover, Königsworther Platz 1, Hannover, Niedersachsen D-30167, Germany)

  • Simone Krummaker

    (Center for Risk and Insurance, Leibniz Universit&aauml;t Hannover, Königsworther Platz 1, Hannover, Niedersachsen D-30167, Germany)

  • J.-Matthias Graf von der Schulenburg

    (Institute for Risk and Insurance, Leibniz Universit&aauml;t Hannover, Königsworther Platz 1, Hannover, Niedersachsen D-30167, Germany
    Center for Risk and Insurance, Leibniz Universit&aauml;t Hannover, Königsworther Platz 1, Hannover, Niedersachsen D-30167, Germany)

Abstract

The discussion concerning long-term care insurance in Germany barely exceeds the financial state of the social system. The view of the insured involved is largely ignored. This paper analyses the effect of the introduction of compulsory long-term care insurance in 1995 in Germany on the perception of financial security when needing long-term care. Using different regression techniques on a subset of the German Socio-Economic Panel (SOEP) data, we show that the introduction led to a general positive shift of the assessment. Furthermore, experience with long-term care had no significant effect before the introduction but a positive effect afterwards. Also, the perception of financial security is found to be increasing with income at both times with similar magnitudes.

Suggested Citation

  • Andy Zuchandke & Sebastian Reddemann & Simone Krummaker & J.-Matthias Graf von der Schulenburg, 2010. "Impact of the Introduction of the Social Long-Term Care Insurance in Germany on Financial Security Assessment in Case of Long-Term Care Need*," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 35(4), pages 626-643, October.
    • Handle: RePEc:pal:gpprii:v:35:y:2010:i:4:p:626-643
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    Citations

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    Cited by:

    1. Pieter Bakx & Claudine de Meijer & Frederik Schut & Eddy van Doorslaer, 2015. "Going Formal or Informal, Who Cares? The Influence of Public Long‐Term Care Insurance," Health Economics, John Wiley & Sons, Ltd., vol. 24(6), pages 631-643, June.
    2. Rong Peng & Xueqin Deng & Yinghua Xia & Bei Wu, 2022. "Assessing the Sustainability of Long-Term Care Insurance Systems Based on a Policy–Population–Economy Complex System: The Case Study of China," IJERPH, MDPI, vol. 19(11), pages 1-17, May.
    3. Geyer, Johannes & Korfhage, Thorben, 2015. "Long-term care reform and the labor supply of household members: Evidence from a quasi-experiment," Ruhr Economic Papers 574, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    4. Sergi Jiménez‐Martín & José M. Labeaga‐Azcona & Cristina Vilaplana‐Prieto, 2016. "Interactions between Private Health and Long‐term Care Insurance and the Effects of the Crisis: Evidence for Spain," Health Economics, John Wiley & Sons, Ltd., vol. 25(S2), pages 159-179, November.
    5. J. Iñaki De La Peña & M. Cristina Fernández-Ramos & Asier Garayeta, 2021. "Cost-Free LTC Model Incorporated into Private Pension Schemes," IJERPH, MDPI, vol. 18(5), pages 1-16, February.

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