Demand for Long-Term Care Insurance in China

Overview

Journal Int J Environ Res Public Health

Publisher MDPI

Specialties Environmental Health
Public Health

Date 2017 Dec 23

PMID 29271906

Citations 19

Authors

Qun Wang

Yi Zhou

Xinrui Ding

Xiaohua Ying

Affiliations

Soon will be listed here.

Abstract

The aim of this study was to estimate willingness to pay (WTP) for long-term care insurance (LTCI) and to explore the determinants of demand for LTCI in China. We collected data from a household survey conducted in Qinghai and Zhejiang on a sample of 1842 households. We relied on contingent valuation methods to elicit the demand for LTCI and random effects logistic regression to analyze the factors associated with the demand for LTCI. Complementarily, we used document analysis to compare the LTCI designed in this study and the current LTCI policies in the pilot cities. More than 90% of the respondents expressed their willingness to buy LTCI. The median WTP for LTCI was estimated at 370.14 RMB/year, accounting for 2.29% of average annual per capita disposable income. Price, age, education status, and income were significantly associated with demand for LTCI. Most pilot cities were found to mainly rely on Urban Employees Basic Medical Insurance funds as the financing source for LTCI. Considering that financing is one of the greatest challenges in the development of China's LTCI, we suggest that policy makers consider individual contribution as an important and possible option as a source of financing for LTCI.

Citing Articles

Preference of urban and rural older people in Shandong Province for long-term care insurance: based on discrete choice experiment.

Jin W, Wang J, Hu X Front Public Health. 2024; 12:1445273.

PMID: 39473595 PMC: 11518801. DOI: 10.3389/fpubh.2024.1445273.

Long-term care insurance in China: Current challenges and recommendations.

Chen S, Li L, Jiao L, Gong S, Wang Z, Liu H J Glob Health. 2024; 14:03015.

PMID: 39325928 PMC: 11426933. DOI: 10.7189/jogh.14.03015.

A scoping review of the impact of ageing on individual consumers' insurance purchase intentions.

Zheng Z, B A M H, Omar Zaki H, Tan Q Heliyon. 2024; 10(18):e37501.

PMID: 39309928 PMC: 11414486. DOI: 10.1016/j.heliyon.2024.e37501.

The effect of health literacy on health investment intention: a cross-sectional study among petrochemical employees in China.

Wang D, Wang Y, Ma H, Zhao S Front Public Health. 2024; 12:1358269.

PMID: 38975355 PMC: 11224481. DOI: 10.3389/fpubh.2024.1358269.

Does long-term care insurance reduce the disability among middle-aged and older adults? Evidence from China.

Cao N, Shi T, Pan C BMC Public Health. 2023; 23(1):1138.

PMID: 37312092 PMC: 10265914. DOI: 10.1186/s12889-023-16057-0.

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