Uninsured by Choice? A Choice Experiment on Long Term Care Insurance
نویسندگان
چکیده
We examine evidence from two unique discrete choice experiments (DCE) on long term care insurance and several of its relevant attributes, more specifically, choices made by 15,298 individuals in the United States with without insurance.We study valuation following namely daily benefit, coverage, compulsory voluntary nature policy design, alongside costs (insurance premium) health requirements This paper investigates respondents' preferences willingness to pay (WTP) for these insurance's attributes using a random parameter logit model, assess heterogeneity responses demographic, socioeconomic attitudinal motivations segment response choices.We find that an increase premium additional 100US$ would reduce uptake 1pp. Insurance is higher when it provides benefits lifetime (the monthly marginal WTP being $178.64), increases extra $74.71) as opposed universal, forgoes checks 28US$).
منابع مشابه
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ژورنال
عنوان ژورنال: Social Science Research Network
سال: 2022
ISSN: ['1556-5068']
DOI: https://doi.org/10.2139/ssrn.4119171