The textbook approach to insurance markets emphasizes the role of private information about risk in determining who purchases insurance. In the classic adverse selection model of Michael Rothschild and Joseph Stiglitz (1976), individuals with higher expected claims buy more insurance than those with lower expected claims, who may be out of the market entirely. This basic prediction of asymmetri...

BACKGROUND This study examines the effects of long-term care insurance (LTCI) on the length of stay (LoS) of senior citizens under the national health insurance of Korea. METHODS The subjects include 3,903,448 people aged 65 and over as of July 1, 2008 when the LTCI was introduced in Korea. This study uses their panel data which traced the records of medical services and LTCI services for the...

We demonstrate the existence of multiple dimensions of private information in the long-term care insurance market. Two types of people purchase insurance: individuals with private information that they are high risk and individuals with private information that they have strong taste for insurance. Ex post, the former are higher risk than insurance companies expect, while the latter are lower r...

This paper covers our recent work regarding family caregiver burden for elderly. The topics are as follows: cross-sectional studies on caregiver burden; changes in caregiver burden; appropriateness of the Long-Term Care insurance assessment scheme; attitude towards caregiving among caregivers; and the development of the short version of the Japanese version of the Zarit Caregiver Burden Interview.

OBJECTIVES The aim of this study was to identify the effects of community-based home healthcare projects that influence service performances with regard to Korean national long-term care insurance services in older adults. METHODS The project's applicants were 18 operational agencies in national long-term care institutions in Korea, and participants were care recipients (n = 2263) registered ...

This study used Monte Carlo simulations to examine the ability of the two-stage least squares (2SLS) estimator and two-stage residual inclusion (2SRI) estimators with varying forms of residuals to estimate the local average and population average treatment effect parameters in models with binary outcome, endogenous binary treatment, and single binary instrument. The rarity of the outcome and th...

BACKGROUND This cohort study examined the association between taxation categories of long-term care insurance premiums and survival among elderly Japanese. METHODS A total of 3000 participants aged 60 years or older were randomly recruited in Y City, Japan in 2002, of whom 2964 provided complete information for analysis. Information on income level, mobility status, medical status, and vital ...

In this paper, we investigate the effect of the out-of-pocket premium on the decision to enroll in employer health insurance and other benefits plans including dental insurance, vision care, long-term care insurance, and wellness benefits. Previous estimates of the effects of premium on takeup of health insurance could be biased toward zero due to a correlation between premium and unobservable ...