Tag: long-term care
Abstract The expectation of needing long-term care is an essential input into optimal saving and long-term care insurance decisions. Previous optimization models have used the Robinson (2002) transition probabilities, which have not been systematically updated and which underpredict the use of care while overpredicting the average stay of people who enter care. We develop a…
The brief’s key findings are: Medicaid covers not only the low-income elderly but also those with higher incomes who become impoverished by health costs, such as nursing home care. The percentage of high-income single retirees receiving Medicaid rises with age – from near zero for those in their 70s to 20 percent for those in…
