Journal of Health Economics · 2026 · Joan Costa‐Font、Richard G. Frank、Nilesh Raut
中文摘要
长期护理服务与支持(LTSS)的筹资在很大程度上依赖于以住房或金融财富形式存在的自我保险。利用1996年至2016年间住房价格的本地市场差异以及个人层面股票市场财富的差异,我们发现,外生财富冲击显著降低了拥有长期护理保险(LTCI)的概率,但并未改变拥有住房和金融资产的人群的医疗补助(Medicaid)资格。流动性财富冲击的影响明显强于住房财富变化的影响。住房(金融)财富每增加10万美元,会使拥有长期护理保险的可能性分别下降1.24(3.22)个百分点。
Abstract
The financing of long-term care services and supports (LTSS) relies heavily on self-insurance in the form of housing or financial wealth. Exploiting both local market variation in housing prices and individual-level variation in stock market wealth from 1996 to 2016, we show that exogenous wealth shocks significantly reduce the probability of LTCI coverage, without altering Medicaid eligibility among people with housing and financial assets. The effect of shocks to liquid wealth strongly dominates the effect of housing wealth changes. A $100 K increase in housing (financial) wealth reduces the likelihood of LTCI coverage by 1.24 (3.22) percentage points.