scholarly journals Addressing the Pension Decumulation Phase of Employee Retirement Planning

2020 ◽  
Author(s):  
Jorge Miguel Ventura Bravo
Keyword(s):  
Mortality Data ◽  
Term Care ◽  
Individual Level ◽  
Bequest Motives ◽  
Care Services ◽  
Life Annuity ◽  
Financial Options ◽  
Income Stream ◽  
The Individual

Longevity increases and population ageing create challenges for all societal institutions, particularly those providing retirement income, healthcare, and long-term care services. At the individual level, an obvious question is how to ensure all retirees have an adequate, secure, stable, and predictable lifelong income stream that will allow them to maintain a target standard of living for, however, long the individual lives. In this chapter, we review and discuss the main pension decumulation options by explicitly modelling consumers’ behaviour and objectives though an objective function based on utility theory accounting for consumption and bequest motives and different risk preferences. Using a Monte-Carlo simulation approach calibrated to US financial market and mortality data, our results suggest that purchasing a capped participating longevity-linked life annuity at retirement including embedded longevity and financial options that allow the annuity provider to periodically revise annuity payments if observed survivorship and portfolio outcomes deviate from expected (or guaranteed) values at contract initiation deliver superior welfare results when compared with classical annuitization and non-annuitization decumulation strategies.

Systemwechsel in der Pflegeversicherung?

2007 ◽  
Vol 58 (1) ◽  
pp. 28-51
Author(s):  
Dirk Meyer
Keyword(s):  
Nursing Care ◽  
Structural Changes ◽  
Term Care ◽  
Related Services ◽  
Care Services ◽  
Efficiency And Effectiveness ◽  
Long Term Care Insurance ◽  
Economic Perspectives ◽  
The Individual

Summary In October 2004, in Germany a pre-operating study was started in order to prove the feasibility and consequences of the use of personal budgets by persons who are in need of nursing care. About 1.000 care dependent persons living in seven regions are included in this triannual study. For three years they receive a budget amounting to 100 percent of their right of benefit in kind according to the German compulsory long term care insurance. This budget has to be used exclusively for care-related services and must not be spent for assistance deliv­ered by family members or neighbours. From socio-economic perspectives, the personal budget will result in a pro­motion of individuals instead of certain services or service institutions. An analysis shows, that the consequences might be an increased efficiency and effectiveness as well as structural changes within the supply of nursing care services. But to achieve these advantages, certain conditions must be provided. At first, the amount of the budget has to correspond to the individual need of care, which can change over time. Secondly, a misapplication of the personal fund has to be prevented without to exclude the potential of local or family dedication. And finally, new ways of quality assurance are requested due to the scope for development, which arises through deregulation.

scholarly journals Hearing and Cognitive Impairments Increase the Risk of Long-term Care Admissions

2020 ◽  
Vol 4 (2) ◽  
Author(s):  
Nicole Williams ◽  
Natalie A Phillips ◽  
Walter Wittich ◽  
Jennifer L Campos ◽  
Paul Mick ◽  
...  
Keyword(s):  
Home Care ◽  
Long Term Care ◽  
Proportional Hazards ◽  
Cox Proportional Hazards ◽  
Assessment Instrument ◽  
Term Care ◽  
Data Set ◽  
Individual Level ◽  
The Individual

Abstract Background and Objectives The objective of the study was to understand how sensory impairments, alone or in combination with cognitive impairment (CI), relate to long-term care (LTC) admissions. Research Design and Methods This retrospective cohort study used existing information from two interRAI assessments; the Resident Assessment Instrument for Home Care (RAI-HC) and the Minimum Data Set 2.0 (MDS 2.0), which were linked at the individual level for 371,696 unique individuals aged 65+ years. The exposure variables of interest included hearing impairment (HI), vision impairment (VI) and dual sensory impairment (DSI) ascertained at participants’ most recent RAI-HC assessment. The main outcome was admission to LTC. Survival analysis, using Cox proportional hazards regression models and Kaplan–Meier curves, was used to identify risk factors associated with LTC admissions. Observations were censored if they remained in home care, died or were discharged somewhere other than to LTC. Results In this sample, 12.7% of clients were admitted to LTC, with a mean time to admission of 49.6 months (SE = 0.20). The main risk factor for LTC admission was a diagnosis of Alzheimer’s dementia (HR = 1.87; CI: 1.83, 1.90). A significant interaction between HI and CI was found, whereby individuals with HI but no CI had a slightly faster time to admission (40.5 months; HR = 1.14) versus clients with both HI and CI (44.9 months; HR = 2.11). Discussion and Implications Although CI increases the risk of LTC admission, HI is also important, making it is imperative to continue to screen for sensory issues among older home care clients.

scholarly journals Individual and regional determinants of long-term care expenditure in Japan: evidence from national long-term care claims

2020 ◽  
Vol 30 (5) ◽  
pp. 873-878
Author(s):  
Xueying Jin ◽  
Takahiro Mori ◽  
Mikiya Sato ◽  
Taeko Watanabe ◽  
Haruko Noguchi ◽  
...  
Keyword(s):  
Long Term Care ◽  
Supply And Demand ◽  
Care Home ◽  
Claim Data ◽  
Fiscal Year ◽  
Term Care ◽  
Individual Level ◽  
Medical Spending ◽  
The Individual

Abstract Background Japan, with the oldest population in the world, faces a financial challenge caused by rising long-term care (LTC) expenditure. For policymakers to address this, it is important that we have a better understanding of how individual and regional characteristics affect LTC expenditure. Methods We linked national LTC insurance (LTCI) claim data, covering the entire population who used LTCI services in Japan, with municipality data on an individual level. Individuals 65 years and older (n=3 876 068) who had used LTCI benefits at least once in the fiscal year (FY) 2016 were included. We examined the associations of individual and municipality characteristics regarding supply and demand of healthcare with the LTC expenditures on facility care, home and community care, and total care (the sum of both types of care), after adjusting for regional differences in LTC extra charges. Results The following variables were associated with higher total expenditure; at the individual level: female, a higher care-need level, a lower income (0% co-payments) or a facility service user; at the municipality level: municipalities locating in metropolitan areas, with a higher proportion of single elderly households, more doctors per 1000 citizens, more nursing homes per 100 000 LTC benefit users or more outpatient medical spending per citizen ≥75 years old. Conclusions As we are able to identify several individual and municipality characteristics associated with higher LTC expenditure in Japan, the study offers insights into dealing with the rapidly growing LTC expenditure.

scholarly journals Housing As We Grow Older: Taking Stock

EDIS ◽  
1969 ◽  
Vol 2003 (1) ◽  
Author(s):  
Virginia Peart ◽  
Carolyn Wilken
Keyword(s):  
Elder Care ◽  
Long Term Care ◽  
Cooperative Extension Service ◽  
Extension Service ◽  
Publication Date ◽  
Term Care ◽  
University Of Florida ◽  
Care Services ◽  
The Individual

This document is Fact Sheet FCS 3187, a series of the Department of Family, Youth and Community Sciences, Florida Cooperative Extension Service, Institute of Food and Agricultural Sciences, University of Florida. Publication date: November 2002. First published: January 1994. Revised: November 2002. Originally published as SAH-1 and adapted for use in Florida from "Planning Ahead for Elder Care: Decisions About Housing" and "Long-Term Care: Services for the Individual."  https://edis.ifas.ufl.edu/he705

scholarly journals Title I: Modernizing Definitions and Programs Under the Administration on Aging

2020 ◽  
Vol 4 (Supplement_1) ◽  
pp. 714-715
Author(s):  
Marie Gualtieri
Keyword(s):  
Title I ◽  
Adult Population ◽  
Term Care ◽  
Older Americans ◽  
Aging Society ◽  
Program Adaptation ◽  
Older Americans Act ◽  
The Individual ◽  
Older Adult Population

Abstract The recent reauthorization of the Older Americans Act adds language and definitions to current issues facing the aging population. Specifically, Title I includes definitions related to program adaptation and coordination, workforce and long-term care issues, nutrition and social isolation, as well as family caregivers. Different from the last authorization, these definitions span beyond the individual experience to include other entities impacted by an aging society, such as the workforce and families. Overall, the Title I reauthorization seeks to modernize policy to reflect the current influx of the older adult population and its consequences.

The use of long-term care services by the Dutch elderly

2000 ◽  
Vol 9 (6) ◽  
pp. 513-531 ◽  
Author(s):  
France Portrait ◽  
Maarten Lindeboom ◽  
Dorly Deeg
Keyword(s):  
Long Term Care ◽  
Term Care ◽  
Care Services
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