Quantifying social protection for long-term care in OECD countries
Tim Muir | OECD
It is difficult for people to predict whether and when they will need professional LTC services, but when they do the cost can be high. People struggle to manage large unpredictable costs without insurance – which is why all OECD countries have public LTC systems. However, while the costs of these systems are well-understood (1.7% of GDP on average across all OECD countries) their benefits are harder to pin down. The OECD has been working with the European Commission to change this. Over the last two years, the levels of social protection in 15 OECD and EU countries have been quantified to determine whether the out of pocket costs that people face in different scenarios are affordable or not. This presentation will give an overview of the methodology and findings of this project.