Research On The Financing Mechanism Of Long-term Care Insurance In China

The construction of a long-term care insurance system is an important measure for China to cope with the risk of aging.In 2016,China officially launched the pilot plan of long-term care insurance system,and included 15 cities in the pilot scope of long-term care insurance system.In 2020,the pilot coverage of long-term care insurance was further expanded to 29 regions.Equitable and sustainable financing arrangements are key to the healthy and effective functioning of long-term care insurance systems.Evaluating the financing mechanism of long-term care insurance system in pilot areas and exploring countermeasures to optimize the financing mechanism of long-term care insurance can provide an important basis for the steady establishment of long-term care insurance system in China.Firstly,this thesis collects the financing schemes of long-term care insurance in two pilot areas,compares and analyzes the financing policies of long-term care insurance in each pilot area from the aspects of financing channels,financing level and coverage,and selects three typical countries that implement social long-term care insurance systems in Germany,Japan and South Korea to summarize their financing mechanism design experience.Secondly,the ILO financing model was constructed to estimate the financing ratio of each pilot region and compare it with the current financing ratio in each region.Thirdly,a coupling coordination model is constructed to measure the coupling coordination between the financing level of long-term care insurance and the regional economic development system.The results show that the pilot areas of long-term care insurance in China have the problems of narrow coverage and financing channels as a whole.More than half of the regions have funding ratios set below theoretical values under current financing schemes,suggesting that current financing ratios in these regions may not be sufficient to meet the surge in long-term care insurance funding needs in the context of ageing;The financing level of long-term care insurance in only one-third of the regions is coordinated with the level of regional economic development,indicating that the financing level of long-term care insurance in China is not compatible with the level of economic development.In view of the problems in the financing mechanism of long-term care insurance in China,drawing on the financing experience of long-term care insurance in Germany,Japan and South Korea,the policy suggestions for optimizing the financing mechanism of long-term care insurance in China are put forward.