Southwest University Researcher Yields New Study Findings on Geriatrics and Gerontology (Enhancing Older Household Consumption: The Impact of Long-term Care Insurance in China): Aging Research – Geriatrics and Gerontology

Insurance Daily News

2024 APR 04 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- Research findings on geriatrics and gerontology are discussed in a new report. According to news originating from Chongqing, People’s Republic of China, by NewsRx correspondents, research stated, “Household consumption significantly impacts the quality of life and successful aging of older adults. However, prior research has often overlooked the connection between household consumption and long-term care insurance (LTCI).”

The news reporters obtained a quote from the research from Southwest University: “This study aims to investigate the influence of LTCI on consumption patterns within older Chinese households. We used harmonized data from the China Health and Retirement Longitudinal Study (CHARLS) and merged it with data from cities that implemented LTCI in China. We analyzed a total of 6,494 households consisting of individuals who were 60 years of age or older. To ensure accurate and stable research findings, we employed a series of difference-in-differences (DID) models. We found that LTCI has a significant impact on consumption levels, including total and per capita consumption within older households. Furthermore, our research demonstrates that LTCI significantly enhances enjoyable consumption across the consumption types. Through a heterogeneous analysis, it is shown that LTCI has a unique effect on both the total and enjoyable consumption of urban older households, and also promotes comprehensive consumption improvements in older rural and disabled households.”

According to the news editors, the research concluded: “These findings highlight the crucial role of LTCI in improving the financial security and well-being of older households. They also have considerable policy implications for dealing with the challenges of an aging population.”

For more information on this research see: Enhancing Older Household Consumption: The Impact of Long-term Care Insurance in China. The Journals of Gerontology, Series B: Psychological Sciences and Social Sciences, 2024. The publisher for The Journals of Gerontology, Series B: Psychological Sciences and Social Sciences is Oxford University Press (OUP).

A free version of this journal article is available at https://doi.org/10.1093/geronb/gbae039.

Our news journalists report that more information may be obtained by contacting Youhua Wang, Department of Sociology and Social Work, College of State Governance, Southwest University, Chongqing, People’s Republic of China. Additional authors for this research include Yushuang Zheng, Yue Li.