The Impact Of Long-term Care Insurance On Poverty Vulnerability In Elderly Disabled Families

In recent years,with the increasing trend of aging population in China,the disability rate of the elderly population has also been rising,and the disabled elderly families are facing the crisis of excessive care burden in today’s miniaturization of family structure.In the face of the increasing pressure of care,the elderly disabled families can not meet the needs of normal life if they only rely on the family members to assume the responsibility of care,so the demand for professional care is increasing.However,the cost of professional formal care is undoubtedly a large expense for disabled elderly families with average economic status,especially for disabled groups with financial difficulties.The contradiction between increasing care demand and difficult care expenses at one’s own expense makes the elderly families face a greater economic burden,because the possibility of failing to fall into poverty rises gradually,but also makes the elderly disabled groups the further increase of psychological pressure and hidden health risks,which restricts the development of healthy aging in our country.Under this background,the construction and pilot policy of the long-term nursing insurance system emerge.With the gradual development of the pilot,long-term care insurance has become increasingly prominent in the framework of the social security system,and has become a key measure that is highly expected to actively cope with the challenges of aging.Therefore,it has become an important academic topic to evaluate the policy effect of long-term care insurance scientifically and reasonably,and analyze and summarize some effective information from it.Therefore,in accordance with this trend,the panel data of China Health and Retirement Tracking Survey(CHARLS)in 2015 and 2018 were selected in this paper,and the PSM-DID method based on propensity score was adopted.On the basis of passing the common supporting hypothesis and balance test of propensity score matching model,The effect of long term care insurance policy on poverty vulnerability of elderly disabled families was studied by using the difference difference model(DID).Through the analysis of the empirical results of the above series of empirical studies,this paper finds that long-term care insurance does have a significant negative impact on the poverty vulnerability of elderly families,and this conclusion is still valid after the robustness test of placebo test and replacement of other propensity score matching methods.In addition,grouping regression method was used to analyze the heterogeneity of long-term care insurance on poverty vulnerability of elderly disabled families to improve the study.The results of heterogeneity analysis showed that the policy effect of long-term care insurance was more effective in reducing poverty and vulnerability of elderly disabled families in eastern China at the regional level.At the family level,the implementation of long-term care insurance policy has a more significant effect on reducing the poverty vulnerability of the elderly disabled families with small family size.At the individual level,the policy effect of long-term care insurance to reduce the poverty vulnerability of elderly disabled families is more significant for the older disabled group with higher education level,lower disability level and older disabled group.Finally,based on the above empirical results,this paper puts forward related policy suggestions: To improve the social acceptance of formal care services,strengthen the support and management of old-age care service institutions,design multi-level long-term care insurance products to meet multi-level future care needs,and strengthen the long-term care insurance reimbursement process,fund management and other aspects of supervision.Only in this way can long-term care insurance play an important role in reducing the poverty and vulnerability of elderly families,improve the long-term care insurance system,meet the requirements of healthy aging more scientifically and effectively,improve the care satisfaction of the elderly,release the care burden of the disabled elderly’s children,and enhance the happiness and satisfaction of the people.