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How much risk is mitigated by LTC Insurance? A case study of the public system in Spain

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Author Info

  • Montserrat Guillen

    ()
    (RFA-IREA, Departament d’Econometria, Estadística i Economia Espanyola, Avda. Diagonal 690, 08034 Barcelona)

  • Adelina Comas-Herrera

    (PSSRU, LSE Health and Social Care London School of Economics and Political Science)

Abstract

We present a methodology that allows to calculate the impact of a given Long-Term Care (LTC) insurance protection system on the risk of incurring extremely large individual lifetime costs. Our proposed methodology is illustrated with a case study. According to our risk measure, the current Spanish public LTC system mitigates individual risk by more than 30% compared to the situation where no public protection were available. We show that our method can be used to compare risk reduction of alternative LTC insurance plans.

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File URL: http://www.pcb.ub.edu/xreap/aplicacio/fitxers/XREAP2011-07.pdf
File Function: First version, 2011
Download Restriction: no

File URL: http://www.pcb.ub.edu/xreap/aplicacio/fitxers/XREAP2011-07.pdf
File Function: Revised version, 2011
Download Restriction: no

Bibliographic Info

Paper provided by Xarxa de Referència en Economia Aplicada (XREAP) in its series Working Papers with number XREAP2011-07.

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Length: 31 pages
Date of creation: Jun 2011
Date of revision: Jun 2011
Handle: RePEc:xrp:wpaper:xreap2011-07

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Postal: Espai de Recerca en Economia, Facultat de Ciències Econòmiques i Empresarials, Universitat de Barcelona, c/ Tinent Coronel Valenzuela, 1-11, 08034 Barcelona
Phone: +34+934039653
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Web page: http://www.pcb.ub.edu/xreap
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  1. Philippe Artzner & Freddy Delbaen & Jean-Marc Eber & David Heath, 1999. "Coherent Measures of Risk," Mathematical Finance, Wiley Blackwell, vol. 9(3), pages 203-228.
  2. Juan Luís Jiménez & Jordi Perdiguero, 2009. "(No)competition in the Spanish retailing gasoline market: a variance filter approach," Working Papers XREAP2009-05, Xarxa de Referència en Economia Aplicada (XREAP), revised May 2009.
  3. Daniel Albalate & Germà Bel & Xavier Fageda, 2010. "Is it Redistribution or Centralization? On the Determinants of Government Investment in Infrastructure," Working Papers XREAP2010-15, Xarxa de Referència en Economia Aplicada (XREAP), revised Dec 2010.
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Cited by:
  1. Anna Castañer & Mª Mercè Claramunt, 2014. "Optimal stop-loss reinsurance: a dependence analysis," Working Papers XREAP2014-04, Xarxa de Referència en Economia Aplicada (XREAP), revised Apr 2014.
  2. Antonio Manresa & Ferran Sancho, 2012. "Leontief versus Ghosh: two faces of the same coin," Working Papers XREAP2012-18, Xarxa de Referència en Economia Aplicada (XREAP), revised Oct 2012.

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