Integrating Retirement and Long-Term Care (LTC) Annuities Using a Notional Defined Contribution (NDC) Framework

2014 ◽  
Author(s):  
Javier Pla-Porcel ◽  
Manuel Ventura-Marco ◽  
Carlos Vidal-Melii
Keyword(s):  
Long Term Care ◽  
Defined Contribution ◽  
Term Care ◽  
Notional Defined Contribution

scholarly journals Social Insurance Accounting for a Notional Defined Contribution Scheme Combining Retirement and Long-Term Care Benefits.

2018 ◽  
Vol 10 (8) ◽  
pp. 2832 ◽  
Author(s):  
Carlos Vidal-Meliá ◽  
Manuel Ventura-Marco ◽  
Juan Manuel Pérez-Salamero González
Keyword(s):  
Social Insurance ◽  
Long Term Care ◽  
Balance Sheet ◽  
Defined Contribution ◽  
Term Care ◽  
Income Statement ◽  
Accounting Model ◽  
Notional Defined Contribution ◽  
Double Entry

This paper develops a social insurance accounting model for a notional defined contribution (NDC) scheme combining retirement and long-term care (LTC) contingencies. The procedure relies on standard double-entry bookkeeping and enables us to compile a “Swedish” type actuarial balance sheet (ABS) following a framework equivalent to an open group approach. This methodology is suitable for reporting the system’s solvency status and can show periodical changes in the system’s financial position by means of an income statement. The information underpinning the actuarial valuation is based on events and transactions that are verifiable at the valuation date, without considering expected future trends. The paper also contains an illustrative example to make it easier for policymakers to understand the main advantages and difficulties of our proposal. The policy conclusions stress the need to properly report social insurance benefits to enhance transparency and sustainability and to improve decision-making because it is in the public interest to do so.

scholarly journals An NDC approach to helping pensioners cope with the cost of long-term care

2018 ◽  
Vol 19 (1) ◽  
pp. 80-108 ◽  
Author(s):  
CARLOS VIDAL-MELIA ◽  
MANUEL VENTURA-MARCO ◽  
JAVIER PLA-PORCEL
Keyword(s):  
Long Term Care ◽  
Policy Implications ◽  
Pension Benefit ◽  
Defined Contribution ◽  
Term Care ◽  
Numerical Example ◽  
Degree Of Disability ◽  
Notional Defined Contribution ◽  
The Cost

AbstractThis paper explores a notional defined contribution (NDC) approach aimed at helping pensioners to cope with the cost of long-term care (LTC). It develops the necessary technicalities to fully integrate an LTC benefit, graded according to the annuitant's degree of disability, into a generic NDC retirement framework with a minimum pension benefit for both contingencies. It also discusses the policy implications of various issues that should be taken into account before any decision is made to put the model into practice. Finally, to enable policymakers to better understand how the proposal would function, the paper includes a realistic numerical example.

LIFE CARE ANNUITIES (LCA) EMBEDDED IN A NOTIONAL DEFINED CONTRIBUTION (NDC) FRAMEWORK

2016 ◽  
Vol 46 (2) ◽  
pp. 331-363 ◽  
Author(s):  
Javier Pla-Porcel ◽  
Manuel Ventura-Marco ◽  
Carlos Vidal-Meliá
Keyword(s):  
Pension System ◽  
Incidence Rates ◽  
Fixed Cost ◽  
Defined Contribution ◽  
Life Care ◽  
Term Care ◽  
Retirement Pension ◽  
Proposed Model ◽  
Notional Defined Contribution

AbstractThis paper examines the possibility of embedding public long-term care (LTC) insurance within the retirement pension system, i.e. introducing life care annuities into a notional defined contribution framework. To do this, we develop a multistate overlapping generations model that includes the so-called survivor dividend and give special attention to the assumptions made about mortality rates for dependent persons and LTC incidence rates, which largely determine the contribution rate assigned to LTC. The proposed model could be of interest to policymakers because it could be implemented without too much difficulty, it would universalize LTC coverage with a “fixed” cost, and it would discourage politicians from making promises about future LTC benefits without the necessary funding support.

Working With Resistance and Encouraging Buy-In to New Programs

2011 ◽  
Vol 16 (1) ◽  
pp. 18-21
Author(s):  
Sara Joffe
Keyword(s):  
Long Term Care ◽  
Term Care ◽  
Optimal Outcomes ◽  
Speech Language Pathologist

In order to best meet the needs of older residents in long-term care settings, clinicians often develop programs designed to streamline and improve care. However, many individuals are reluctant to embrace change. This article will discuss strategies that the speech-language pathologist (SLP) can use to assess and address the source of resistance to new programs and thereby facilitate optimal outcomes.

Feeding Dependency Issues in the Long-Term Care Environment

2001 ◽  
Vol 10 (1) ◽  
pp. 19-24
Author(s):  
Carol Winchester ◽  
Cathy Pelletier ◽  
Pete Johnson
Keyword(s):  
Long Term Care ◽  
Term Care ◽  
Care Environment

Communication Disordered: Program Implementation in Long-Term Care

2016 ◽  
Vol 1 (15) ◽  
pp. 64-67
Author(s):  
George Barnes ◽  
Joseph Salemi
Keyword(s):  
Program Implementation ◽  
Long Term Care ◽  
Family Satisfaction ◽  
Regulatory Compliance ◽  
Care Staff ◽  
Term Care ◽  
Staff Members ◽  
Change Policy

The organizational structure of long-term care (LTC) facilities often removes the rehab department from the interdisciplinary work culture, inhibiting the speech-language pathologist's (SLP's) communication with the facility administration and limiting the SLP's influence when implementing clinical programs. The SLP then is unable to change policy or monitor the actions of the care staff. When the SLP asks staff members to follow protocols not yet accepted by facility policy, staff may be unable to respond due to confusing or conflicting protocol. The SLP needs to involve members of the facility administration in the policy-making process in order to create successful clinical programs. The SLP must overcome communication barriers by understanding the needs of the administration to explain how staff compliance with clinical goals improves quality of care, regulatory compliance, and patient-family satisfaction, and has the potential to enhance revenue for the facility. By taking this approach, the SLP has a greater opportunity to increase safety, independence, and quality of life for patients who otherwise may not receive access to the appropriate services.

Informal Caregivers As Long-Term Care Providers: Differential Experiences By Gender

2002 ◽  
Author(s):  
Maryam Navaie-Waliser ◽  
Aubrey L. Spriggs ◽  
Penny H. Feldman
Keyword(s):  
Long Term Care ◽  
Informal Caregivers ◽  
Care Providers ◽  
Term Care
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