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Executive Summary.pdf

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👤 Author: CHASSEA
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Summary

The majority of elderly Americans with long-term care needs live outside of institutions and receive care from their children, with 14% of all respondents and 53% of unmarried parents with care needs claiming to receive care from their children. The AHEAD study found that children of unmarried respondents are their most common sources of care, with only 6% of caregiving children being paid, and their hourly payments averaging less than $1. The study also found that intended end-of-life transfers to caregiving children are approximately $12,000 greater than those to non-caregivers, and that children who provide care to their parents are more likely to be included in a will or life insurance policy. A model of the exchange of end-of-life transfers for elder care suggests that parents who hold more bequeathable wealth are more likely to be cared for by their children, and that children respond to both parents' care needs and their bequeathable wealth when making caregiving decisions. Policy experiments suggest that reforms in which the expected present values of both public and private pensions were included in parents' bequests could result in a 5 to 6 percentage point increase in the rate at which unmarried elderly parents receive family care.

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The majority of elderly Americans with long-term care needs live outside of institutions and receive care from their children, with 14% of all respondents and...

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  • File Format: PDF
  • File Size: 11 KB
  • Pages: 2
  • Language: EN
  • Author: CHASSEA
  • Total Downloads: 121
  • Last Updated: 6 days ago

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