Factors Impacting Group Long-Term Care Insurance Enrollment Decisions
Patricia Schaber () and
Marlene Stum ()
Journal of Family and Economic Issues, 2007, vol. 28, issue 2, 189-205
Abstract:
This paper examines factors that influence whether or not employees choose to enroll in a group long-term care insurance plan. A conceptual family decision-making framework is used to group factors to study the enrollment decision of 509 state employees who were offered a long-term care insurance plan in 2000. Logistic regression results revealed that employee age, perceived risk, perceived affordability, decision-making style (communication with others and use of information), goals of control and choice, goal of financial peace of mind, household income, and potential caregiver availability explained 68.7% of the decision to enroll. Results support the key role of perception, specifically the perceived risk of needing long-term care and the affordability of the insurance plan, in the decision outcome. Copyright Springer Science+Business Media, LLC 2007
Keywords: Family decision making; Long-term care insurance (search for similar items in EconPapers)
Date: 2007
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (11)
Downloads: (external link)
http://hdl.handle.net/10.1007/s10834-007-9062-y (text/html)
Access to full text is restricted to subscribers.
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:kap:jfamec:v:28:y:2007:i:2:p:189-205
Ordering information: This journal article can be ordered from
http://www.springer. ... es/journal/10834/PS2
DOI: 10.1007/s10834-007-9062-y
Access Statistics for this article
Journal of Family and Economic Issues is currently edited by Joyce Serido
More articles in Journal of Family and Economic Issues from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().