Although long-term care is a substantial financial risk for retired households, only about 10 percent purchase insurance, with many of the remainder relying on Medicaid. Faced with rising Medicaid expenditures on long-term care, states have attempted to encourage the purchase of private...

Although long-term care is a substantial financial risk for retired households, only about 10 percent purchase insurance, with many of the remainder relying on Medicaid. Faced with rising Medicaid expenditures on long-term care, states have attempted to encourage the purchase of private...

Although long-term care costs represent a substantial financial risk for retired households, few purchase insurance. Previous research shows that it would not be optimal for most single individuals to purchase coverage, due to crowd-out by the means-tested partial insurance provided by Medicaid....