Medicaid and long-term care : the effects of penalizing strategic asset transfers

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<title>Medicaid and long-term care</title>
<subTitle>: the effects of penalizing strategic asset transfers</subTitle>
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<namePart>Mukherjee, A.</namePart>
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<dateIssued encoding="marc">2021</dateIssued>
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<abstract displayLabel="Summary">Medicaid provides a critical source of insurance for long term care, and individuals may strategically offload assets (typically to children) to meet the means-tested eligibility requirement. In this article, we quantify the extent of such behavior using variation in the penalty for improper parent-to-child transfers induced by the Deficit Reduction Act of 2005. We estimate difference-indifferences models based on the hypothesis that only individuals with high levels of nursing home risk (high risk) will alter transfers because of the Act. We find that a 2-year horizon, high-risk individuals reduced transfers to children on the extensive margin by 11 percent and that the average total amount of transfers decreased by $4,860. The results hold only for coupled respondents. We also conduct a tripledifferences analysis to examine heterogeneity with financial literacy and find that even those with a low level of financial literacy responded to the penalty.</abstract>
<note type="statement of responsibility">Junhao Liu, Anita Mukherjee</note>
<subject xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080603786">
<topic>Seguro de dependencia</topic>
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<topic>Seguro de personas</topic>
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<topic>Niños</topic>
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<subject xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080548100">
<topic>Medicaid</topic>
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<geographic>Estados Unidos</geographic>
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<title>The Journal of risk and insurance</title>
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<publisher>Nueva York : The American Risk and Insurance Association, 1964-</publisher>
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<identifier type="issn">0022-4367</identifier>
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<text>01/03/2021 Volumen 88 Número 1 - marzo 2021 , p. 53-77</text>
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