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.
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Schaber, P.L., Stum, M.S. Factors Impacting Group Long-Term Care Insurance Enrollment Decisions. J Fam Econ Iss 28, 189–205 (2007). https://doi.org/10.1007/s10834-007-9062-y
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DOI: https://doi.org/10.1007/s10834-007-9062-y