Public Long-Term Care Insurance Program for the Elderly (LTCI): Performance Evaluation and Policy Implications

Abstract

Since its introduction in 2008, the Korea’s LTCI has produced numerous positive results, including: mitigation of the risk of long-term caregiving for the family members of seniors; decrease in the financial burden of caregiving on families; and improvement in the quality of life of elderly beneficiaries and their families. According to the evaluation on the performance of the LTCI with 17 indicators, it can be showed that the at-home care system needs to be strengthened in order to ensure the long-term financial sustainability of the LTCI and reduce the regional inequality in access to available service resources.