Income Redistribution Effects of Public Long-Term Care Insurance Based on Differences in Disabled Survival Time
Long-term care insurance(LTCI)has been piloted for years and is set for nationwide implementation,raising concerns about its income redistribution effects.Using CLHLS data,this study estimates the disabled survival time across income groups and constructs an actuarial model to calculate fair premiums and internal rates of return.The findings suggest that the low-income group is at a disadvantage in accessing medical care and caregiving resources,leading to a higher risk of death after becoming disabled and a shorter expected duration of survival with disabilities.Additionally,uniform premiums and benefits could lead to reverse redistribution,where low-income groups subsidize high-income groups.Increasing reimbursement rates for low-income participants under a fixed premium model shows limited effect on positive redistribution.Funding based on a fixed percentage of wages or income fosters positive income redistribution.When designing a unified national LTCI system,it is recommended to focus on fairness and sustainability,calculate fair rates under a uniform and moderate benefit level,and adopt a funding method based on a fixed percentage of wages or income to promote the positive income redistribution function of LTCI.
Public Long-Term Care InsuranceDisability Survival TimeLifetime Income RedistributionInternal Rate of Return
NETL
NSTL
万方数据
