Long-term care in Latin America and the Caribbean?: theory and policy considerations

This paper discusses theoretical and practical issues related to long-term care (LTC) services in Latin America. Demand for these services will rise as the region undergoes a swift demographic transition from its currently young population to a rapidly aging one, especially since the region's a...

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Detalles Bibliográficos
Autores principales: Caruso Bloeck, Martín, Galiani, Sebastián, Ibarrarán, Pablo
Formato: Articulo Documento de trabajo
Lenguaje:Inglés
Publicado: 2017
Materias:
Ciencias Económicas
Public economics
Population ageing
Demographic transition
Business
Latin americans
Cash
Long-term care
Long-term care insurance
Program development
Subsidy
Acceso en línea:http://sedici.unlp.edu.ar/handle/10915/126262
Aporte de:
SEDICI (UNLP) de Universidad Nacional de La Plata
id I19-R120-10915-126262
record_format dspace
institution Universidad Nacional de La Plata
institution_str I-19
repository_str R-120
collection SEDICI (UNLP)
language Inglés
topic Ciencias Económicas
Public economics
Population ageing
Demographic transition
Business
Latin americans
Cash
Long-term care
Long-term care insurance
Program development
Subsidy
spellingShingle Ciencias Económicas
Public economics
Population ageing
Demographic transition
Business
Latin americans
Cash
Long-term care
Long-term care insurance
Program development
Subsidy
Caruso Bloeck, Martín
Galiani, Sebastián
Ibarrarán, Pablo
Long-term care in Latin America and the Caribbean?: theory and policy considerations
topic_facet Ciencias Económicas
Public economics
Population ageing
Demographic transition
Business
Latin americans
Cash
Long-term care
Long-term care insurance
Program development
Subsidy
description This paper discusses theoretical and practical issues related to long-term care (LTC) services in Latin America. Demand for these services will rise as the region undergoes a swift demographic transition from its currently young population to a rapidly aging one, especially since the region's aging cohorts are more prone to experience a decline in their functional and physical abilities than elderly people elsewhere in the world. We argue that private insurance markets are ill-equipped to provide coverage to meet the need for LTC, while the amount of personal savings required to afford self-insurance is prohibitively high. We study how developed economies have dealt with the issue of LTC and pay special attention to the most salient features of their LTC programs. We then direct the discussion to Latin America, where LTC may not be an immediate priority, but governments are likely to encourage the development of LTC programs as demand for them steadily grows. In particular, policymakers are probably going to focus initially on LTC programs for the poor and the vulnerable, for whom LTC affordability is a greater problem. We therefore study how basic elements of policy design affect cost-effectiveness of LTC programs by means of a formal model. Our study shows that pro-poor programs are more cost effective when people have the option to receive cash subsidies, and the availability of in-kind and in-cash choices reduces program costs overall. We argue that our findings are natural starting points to start thinking about LTC program development in the region.
format Articulo
Documento de trabajo
author Caruso Bloeck, Martín
Galiani, Sebastián
Ibarrarán, Pablo
author_facet Caruso Bloeck, Martín
Galiani, Sebastián
Ibarrarán, Pablo
author_sort Caruso Bloeck, Martín
title Long-term care in Latin America and the Caribbean?: theory and policy considerations
title_short Long-term care in Latin America and the Caribbean?: theory and policy considerations
title_full Long-term care in Latin America and the Caribbean?: theory and policy considerations
title_fullStr Long-term care in Latin America and the Caribbean?: theory and policy considerations
title_full_unstemmed Long-term care in Latin America and the Caribbean?: theory and policy considerations
title_sort long-term care in latin america and the caribbean?: theory and policy considerations
publishDate 2017
url http://sedici.unlp.edu.ar/handle/10915/126262
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AT galianisebastian longtermcareinlatinamericaandthecaribbeantheoryandpolicyconsiderations
AT ibarraranpablo longtermcareinlatinamericaandthecaribbeantheoryandpolicyconsiderations
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