Filed Under:Health Insurance, Ltci

EBRI: LTCI Boosts Overall Retiree Spending

Retirees with LTCI may be getting more out of their money. (AP Photo/Phil Coale)
Retirees with LTCI may be getting more out of their money. (AP Photo/Phil Coale)

Long-term care insurance (LTCI) may really give LTCI holders the peace of mind to enjoy retirement more than retirees without LTCI do.

Sudipto Banerjee, a researcher at the Employee Benefit Research Institute (EBRI), Washington, has reported evidence that may support that hypothesis in an analysis of data from the Consumption and Activities Mail Survey (CAMS), a supplement to the Health and Retirement Study (HRS) that is conducted by the Institute for Social Research at the University of Michigan.

Banerjee used a statistical technique called regression analysis to try to separate the effects of owning LTCI from the effects of other factors that could influence spending.

Clearly, having higher income, greater wealth or more years of education correlate with increased spending, and poor health and older age correlate with reduced spending, Banerjee says in a discussion of the results of the regression analysis.

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Nichole Morford

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