TY - JOUR
T1 - Group long-term care insurance
T2 - Decision-making factors and implications for financing long-term care
AU - Stum, Marlene S.
N1 - Copyright:
Copyright 2009 Elsevier B.V., All rights reserved.
PY - 2008
Y1 - 2008
N2 - This study proposes and tests a systemic family decisionmaking framework to understand group long-term care insurance (LTCI) enrollment decisions. A random sample of public employees who were offered group LTCI as a workplace benefit were examined. Findings reveal very good predictive efficacy for the overall conceptual framework with a pseudo R2 value of .687, and reinforced the contributions of factors within the family system. Enrollees were more likely to have discussed the decision with others, used information sources, and had prior experience when compared to non-enrollees. Perceived health status, financial knowledge, attitudes regarding the role of private insurance, risk taking, and coverage features were additional factors related to enrollment decisions. The findings help to inform policymakers about the potential of LTCI as one strategy for financing long-term care.
AB - This study proposes and tests a systemic family decisionmaking framework to understand group long-term care insurance (LTCI) enrollment decisions. A random sample of public employees who were offered group LTCI as a workplace benefit were examined. Findings reveal very good predictive efficacy for the overall conceptual framework with a pseudo R2 value of .687, and reinforced the contributions of factors within the family system. Enrollees were more likely to have discussed the decision with others, used information sources, and had prior experience when compared to non-enrollees. Perceived health status, financial knowledge, attitudes regarding the role of private insurance, risk taking, and coverage features were additional factors related to enrollment decisions. The findings help to inform policymakers about the potential of LTCI as one strategy for financing long-term care.
KW - Benefits
KW - Financial security
KW - Financing long-term care
KW - Long-term care insurance
KW - Risk management
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U2 - 10.1080/08959420801977533
DO - 10.1080/08959420801977533
M3 - Article
C2 - 18788363
AN - SCOPUS:54049130518
SN - 0895-9420
VL - 20
SP - 165
EP - 181
JO - Journal of Aging and Social Policy
JF - Journal of Aging and Social Policy
IS - 2
ER -
