Long-Term Care Financing: Issues, Options, and Implications for China

Abstract

Presents a review of existing long-term care financing systems in developed countries—mostly those in the Organisation for Economic Co-operation and Development (OECD)—with a focus on key issues and design options facing policymakers in those countries and their implications for China. The current aged care financing situation in China remains characterized by the dominance of private payments and limited public support for both service users (welfare recipients and other eligible vulnerable elders) and providers (in the form of subsidies for construction and operating costs). In the medium to long run, China should consider developing a universal public long-term care financing system similar to the universal social insurance models adopted in the Netherlands, Germany, Japan, and more recently in Korea. As with health care and income support for older people, this approach recognizes that needing long-term care remains a normal life risk that the vast majority of people cannot address on their own.

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