Abstract:

Discusses the importance of basing the baby-boom cohorts' long-term care policy discussions on a recognition of social & economic trends, as well as on the informal exchanges of care that occur over life & on intercohort diversity. The implications of two ways of thinking about challenges posed by the aging of baby boomers - the generational equity/crisis perspective & the generational investment/gradual adjustment perspective - are also discussed. It is suggested that the generational equity perspective is consonant with proposals to expand private savings for long-term care contingencies & private long-term insurance &, secondarily, with proposals to expand means-testing for benefits. The second perspective is more consistent with proposals to create new universal services through a traditional social insurance approach, or through a block grant such as the one discussed in the context of the Clinton Administration's health care reform plan.