[go: up one dir, main page]
IDEAS home Printed from https://ideas.repec.org/p/xrp/wpaper/xreap2011-07.html
   My bibliography  Save this paper

How much risk is mitigated by LTC Insurance? A case study of the public system in Spain

Author

Listed:
  • Montserrat Guillen

    (RFA-IREA, Departament d’Econometria, Estadística i Economia Espanyola, Avda. Diagonal 690, 08034 Barcelona)

  • Adelina Comas-Herrera

    (PSSRU, LSE Health and Social Care London School of Economics and Political Science)

Abstract
We present a methodology that allows to calculate the impact of a given Long-Term Care (LTC) insurance protection system on the risk of incurring extremely large individual lifetime costs. Our proposed methodology is illustrated with a case study. According to our risk measure, the current Spanish public LTC system mitigates individual risk by more than 30% compared to the situation where no public protection were available. We show that our method can be used to compare risk reduction of alternative LTC insurance plans.

Suggested Citation

  • Montserrat Guillen & Adelina Comas-Herrera, 2011. "How much risk is mitigated by LTC Insurance? A case study of the public system in Spain," Working Papers XREAP2011-07, Xarxa de Referència en Economia Aplicada (XREAP), revised Jun 2011.
    • Handle: RePEc:xrp:wpaper:xreap2011-07
    as

    Download full text from publisher

    File URL: http://www.xreap.cat/RePEc/xrp/pdf/XREAP2011-07.pdf
    File Function: First version, 2011
    Download Restriction: no
    File URL: http://www.xreap.cat/RePEc/xrp/pdf/XREAP2011-07.pdf
    File Function: Revised version, 2011
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Abel Lucena, 2009. "The antecedents and innovation consequences of organizational search: empirical evidence for Spain," Working Papers XREAP2009-08, Xarxa de Referència en Economia Aplicada (XREAP), revised Oct 2009.
    2. Juan Luís Jiménez & Jordi Perdiguero, 2009. "(No)competition in the Spanish retailing gasoline market: a variance filter approach," Working Papers XREAP2009-05, Xarxa de Referència en Economia Aplicada (XREAP), revised May 2009.
    3. Germà Bel & Xavier Fageda, 2008. "Privatization and competition in the delivery of local services: An empirical examination of the dual market hypothesis," Working Papers XREAP2008-04, Xarxa de Referència en Economia Aplicada (XREAP), revised Apr 2008.
    4. Fageda, Xavier, 1975- & Flores-Fillol, Ricardo, 2010. "Technology, business models and network structure in the airline industry," Working Papers 2072/151552, Universitat Rovira i Virgili, Department of Economics.
    5. Adelina Comas-Herrera & Rebecca Butterfield & José-Luis Fernández & Joshua M. Wiener, 2012. "Barriers to Opportunities for Private Long-term Care Insurance in England: What Can We Learn from Other Countries?," Chapters, in: Alistair McGuire & Joan Costa-Font (ed.), The LSE Companion to Health Policy, chapter 15, Edward Elgar Publishing.
    6. Matas, Anna & Raymond, José-Luis & Roig, José-Luis, 2009. "Car ownership and access to jobs in Spain," Transportation Research Part A: Policy and Practice, Elsevier, vol. 43(6), pages 607-617, July.
    7. Daniel Albalate & Germà Bel & Xavier Fageda, 2010. "Is it Redistribution or Centralization? On the Determinants of Government Investment in Infrastructure," Working Papers XREAP2010-15, Xarxa de Referència en Economia Aplicada (XREAP), revised Dec 2010.
    8. Agustí Segarra-Blasco, 2007. "Innovation, R&D Spillovers and Productivity: The Role of Knowledge-Intensive Services," Working Papers XREAP2007-12, Xarxa de Referència en Economia Aplicada (XREAP), revised Nov 2007.
    9. Tian Zhou‐Richter & Mark J. Browne & Helmut Gründl, 2010. "Don't They Care? Or, Are They Just Unaware? Risk Perception and the Demand for Long‐Term Care Insurance," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 77(4), pages 715-747, December.
    10. Philippe Artzner & Freddy Delbaen & Jean‐Marc Eber & David Heath, 1999. "Coherent Measures of Risk," Mathematical Finance, Wiley Blackwell, vol. 9(3), pages 203-228, July.
    11. Henri de Castries, 2009. "Ageing and Long-Term Care: Key Challenges in Long-Term Care Coverage for Public and Private Systems," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 34(1), pages 24-34, January.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Catalina Bolancé & Zuhair Bahraoui & Ramon Alemany, 2015. "Estimating extreme value cumulative distribution functions using bias-corrected kernel approaches," Working Papers XREAP2015-01, Xarxa de Referència en Economia Aplicada (XREAP), revised Jan 2015.
    2. Anna Castañer & Mª Mercè Claramunt, 2014. "Optimal stop-loss reinsurance: a dependence analysis," Working Papers XREAP2014-04, Xarxa de Referència en Economia Aplicada (XREAP), revised Apr 2014.
    3. Esther-Vayá & José-Ramón-García & Joaquim-Murillo & Javier-Romaní & Jordi-Suriñach, 2016. "“Economic Impact of Cruise Activity: The Port of Barcelona"," IREA Working Papers 201613, University of Barcelona, Research Institute of Applied Economics, revised Nov 2016.
    4. J. Iñaki De La Peña & M. Cristina Fernández-Ramos & Asier Garayeta, 2021. "Cost-Free LTC Model Incorporated into Private Pension Schemes," IJERPH, MDPI, vol. 18(5), pages 1-16, February.
    5. Mercedes Ayuso & Montserrat Guillen & Jens Perch Nielsen, 2019. "Improving automobile insurance ratemaking using telematics: incorporating mileage and driver behaviour data," Transportation, Springer, vol. 46(3), pages 735-752, June.
    6. Anna Castañer & Mª Mercè Claramunt & Alba Tadeo & Javier Varea, 2016. "Modelización de la dependencia del número de siniestros. Aplicación a Solvencia II," Working Papers XREAP2016-01, Xarxa de Referència en Economia Aplicada (XREAP), revised Sep 2016.
    7. Antonio Manresa & Ferran Sancho, 2012. "Leontief versus Ghosh: two faces of the same coin," Working Papers XREAP2012-18, Xarxa de Referència en Economia Aplicada (XREAP), revised Oct 2012.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Mercedes Ayuso & Montserrat Guillen & Catalina Bolancé, 2011. "Loss risk through fraud in car insurance," Working Papers XREAP2011-08, Xarxa de Referència en Economia Aplicada (XREAP), revised Jun 2011.
    2. Xavier Fageda & Jordi Perdiguero, 2014. "An Empirical Analysis of a Merger Between a Network and Low-cost Airlines," Journal of Transport Economics and Policy, University of Bath, vol. 48(1), pages 81-96, January.
    3. Veruska Oppedisano & Gilberto Turati, 2010. "What are the causes of educational inequalities and of their evolution over time in Europe? Evidence from PISA," Working Papers XREAP2010-16, Xarxa de Referència en Economia Aplicada (XREAP), revised Dec 2010.
    4. Coad, Alex & Segarra, Agustí & Teruel, Mercedes, 2013. "Like milk or wine: Does firm performance improve with age?," Structural Change and Economic Dynamics, Elsevier, vol. 24(C), pages 173-189.
    5. Lluís Bermúdez & Antoni Ferri & Montserrat Guillén, 2011. "A correlation sensitivity analysis of non-life underwriting risk in solvency capital requirement estimation," Working Papers XREAP2011-12, Xarxa de Referència en Economia Aplicada (XREAP), revised Sep 2011.
    6. Raúl Ramos & Esteban Sanromá & Hipólito Simón, 2014. "Public-Private Sector Wage Differentials by Type of Contract: Evidence from Spain," Hacienda Pública Española / Review of Public Economics, IEF, vol. 208(1), pages 107-141, March.
    7. Lluís Bermúdez & Dimitris Karlis, 2010. "Modelling dependence in a ratemaking procedure with multivariate Poisson regression models," Working Papers XREAP2010-04, Xarxa de Referència en Economia Aplicada (XREAP), revised Apr 2010.
    8. David Pitt & Montserrat Guillén, 2010. "An introduction to parametric and non-parametric models for bivariate positive insurance claim severity distributions," Working Papers XREAP2010-03, Xarxa de Referència en Economia Aplicada (XREAP), revised Mar 2010.
    9. Agustí Segarra, 2011. "R&D cooperation between Spanish firms and scientific partners: what is the role of tertiary education?," Working Papers XREAP2011-17, Xarxa de Referència en Economia Aplicada (XREAP), revised Nov 2011.
    10. Joan-Ramon Borrell & Juan Luis Jiménez & Carmen García, 2014. "Evaluating Antitrust Leniency Programs," Journal of Competition Law and Economics, Oxford University Press, vol. 10(1), pages 107-136.
    11. Teixidó-Figueras, J. & Duro, J.A., 2014. "Spatial Polarization of the Ecological Footprint Distribution," Ecological Economics, Elsevier, vol. 104(C), pages 93-106.
    12. Callejón, María & Ortún, Vicente, 2009. "Black-box business dynamics," INVESTIGACIONES REGIONALES - Journal of REGIONAL RESEARCH, Asociación Española de Ciencia Regional, issue 15, pages 167-189.
    13. Raúl Ramos & Esteban Sanromá & Hipólito Simón, 2015. "An analysis of wage differentials between full-and part-time workers in Spain," Working Papers 2015/29, Institut d'Economia de Barcelona (IEB).
    14. Garcia-López, Miquel-Àngel & Hémet, Camille & Viladecans-Marsal, Elisabet, 2017. "Next train to the polycentric city: The effect of railroads on subcenter formation," Regional Science and Urban Economics, Elsevier, vol. 67(C), pages 50-63.
    15. Antonio Di Paolo & Ferran Mañé, 2014. "Are we wasting our talent? Overqualification and overskilling among PhD graduates," Working Papers XREAP2014-06, Xarxa de Referència en Economia Aplicada (XREAP), revised Jun 2014.
    16. Daniel Albalate & Jordi Rosell, 2016. "Persistent and transient efficiency on the stochastic production and cost frontiers – an application to the motorway sector," Working Papers XREAP2016-04, Xarxa de Referència en Economia Aplicada (XREAP), revised Oct 2016.
    17. Samuel Calonge & Oriol Tejada, 2009. "A theoretical and practical study on linear reforms of dual taxes," Working Papers in Economics 218, Universitat de Barcelona. Espai de Recerca en Economia.
    18. Jofre-Monseny, Jordi & Silva, José I. & Vázquez-Grenno, Javier, 2020. "Local labor market effects of public employment," Regional Science and Urban Economics, Elsevier, vol. 82(C).
    19. Carmen D. Álvarez-Albelo & Antonio Manresa & Monica Pigem-Vigo, 2009. "The international trade as the sole engine of growth for an economy," Working Papers XREAP2009-06, Xarxa de Referència en Economia Aplicada (XREAP), revised Jun 2009.
    20. Miquel-Àngel Bové-Sans & Raquel Laguado- Ramírez, 2012. "Quantitative analysis of image factors in a cultural heritage tourist destination," Working Papers XREAP2012-06, Xarxa de Referència en Economia Aplicada (XREAP), revised Apr 2012.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:xrp:wpaper:xreap2011-07. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: XREAP (email available below). General contact details of provider: https://edirc.repec.org/data/xreapes.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.