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How Can We Improve Long-Term Care Financing?


  • Howard Gleckman


The system for financing and delivering long-term care in the United States is deeply flawed. While families and government spend more than $200 billion annually for such services, many frail elderly and disabled fail to receive the care they need. This problem is expected to become more severe as the Baby Boom generation ages. While experts generally agree that the existing system is inefficient and ineffective, they disagree on how it should be reformed. This brief, the fourth and final in a series, will review several options for change. These options include enhancing private long-term care insurance, replacing the current welfare-based system with a public social insurance program, and introducing a hybrid public-private system. None of these alternatives is optimal, but each has significant advantages over the current system.

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  • Howard Gleckman, 2008. "How Can We Improve Long-Term Care Financing?," Issues in Brief ib2008-8-8, Center for Retirement Research, revised Jun 2008.
  • Handle: RePEc:crr:issbrf:ib2008-8-8

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    References listed on IDEAS

    1. Juan Yermo, 2008. "Governance and Investment of Public Pension Reserve Funds in Selected OECD Countries," OECD Working Papers on Insurance and Private Pensions 15, OECD Publishing.
    2. Edwin M. Truman, 2009. "A Blueprint for Sovereign Wealth Fund Best Practices," Revue d'Économie Financière, Programme National Persée, vol. 9(1), pages 429-451.
    3. Olivia S. Mitchell & John Piggott & Cagri Kumru, 2008. "Managing Public Investment Funds: Best Practices and New Challenges," NBER Working Papers 14078, National Bureau of Economic Research, Inc.
    4. repec:crr:issbrf:ib2007-7-12 is not listed on IDEAS
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