Long-Term Care Insurance and the Family
研究了家庭成员的非正式照料如何影响长期护理保险需求，发现非正式照料使保险需求降低7个百分点并抑制医疗补助支出，而提供等额现金补贴可提升保险需求和家庭福利。
This paper examines whether informal care by family members influences the demand for long-term care insurance. Motivated by evidence that the availability of informal caregivers correlates with lower insurance demand and that informal care substitutes for formal care, I estimate a dynamic model of long-term care decisions between an elderly parent and her adult child. The availability of informal care lowers demand for insurance by 7 percentage points and suppresses Medicaid spending. A policy that provides equivalent cash benefits for informal care for such families can generate meaningful increases in insurance demand and family welfare and decreases in Medicaid spending.