Renmin University of China Reports Findings in Science (Public long-term care insurance and consumption of elderly households: Evidence from China): Science

2023 MAY 19 (NewsRx) -- By a News Reporter-Staff News Editor at Daily China News -- New research on Science is the subject of a report. According to news reporting originating in Beijing, People’s Republic of China, by NewsRx journalists, research stated, “This study investigates the impact of long-term care insurance (LTCI) on the non-health consumption of elderly households. By exploiting a quasi-experiment on the public LTCI pilot program in China, we identify the effect of LTCI using a triple-difference approach.”

Financial supporters for this research include National Office for Philosophy and Social Sciences, Chinese National Funding of Social Sciences.

The news reporters obtained a quote from the research from the Renmin University of China, “Using longitudinal data from the China Health and Retirement Longitudinal Study, we find that LTCI has led to an increase in the non-health consumption of elderly households by 15.7%, mostly observed in households having no older members with need for long-term care (LTC). Further evidence suggests that the effects are stronger for households with higher expected LTC risks, less wealth or family insurance, and covered by more generous schemes. Finally, LTCI increases the expectation of using formal LTC when disabled and subjective longevity expectations for older adults having no need for LTC.”

According to the news reporters, the research concluded: “Overall, these findings offer empirical support for the role of LTCI in mitigating precautionary savings against LTC risks.”

This research has been peer-reviewed.

For more information on this research see: Public long-term care insurance and consumption of elderly households: Evidence from China. Journal of Health Economics, 2023;90:102759. Journal of Health Economics can be contacted at: Elsevier, Radarweg 29, 1043 Nx Amsterdam, Netherlands. (Elsevier - www.elsevier.com; Journal of Health Economics - http://www.journals.elsevier.com/journal-of-health-economics/)

Our news correspondents report that additional information may be obtained by contacting Hong Liu, School of Labor and Human Resources, Renmin University of China, 59 Zhongguancun Street, Beijing 100872, People’s Republic of China. Additional authors for this research include Jinqiu Ma and Liqiu Zhao.

The direct object identifier (DOI) for that additional information is: https://doi.org/10.1016/j.jhealeco.2023.102759. This DOI is a link to an online electronic document that is either free or for purchase, and can be your direct source for a journal article and its citation.

The publisher of the Journal of Health Economics can be contacted at: Elsevier, Radarweg 29, 1043 Nx Amsterdam, Netherlands.

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