TY - UNPD A1 - Bahnsen, Lewe A1 - Fetzer, Stefan A1 - Franke, Fabian A1 - Hagist, Christian T1 - Gone with the windfall N2 - Due to the debate about the generosity of LTC insurance benefits the German government decided to increase benefits and widen the circle of LTC beneficiaries with the Second LTC Strengthening Act. In this paper, we evaluate the long-term implications of this recent reform for the German LTC insurance scheme. Using the framework of generational accounting we show that the reform has led to a widening of the short-term gap between revenues and expenditure and that the LTC insurance is not sustainably financed, neither pre- nor post-reform. By the early 2020s there will be fiscal pressure for further reforms. From an intergenerational perspective, the reform can be seen as a windfall to current beneficiaries increasing the intergenerational redistribution through the pay-as-you-go system. T3 - WHU – Working Paper Series in Economics - WP 18/05 KW - Generationenbilanz KW - Generational accounting KW - Pflegeversicherung KW - Long-term care insurance KW - Intergenerative Verteilungswirkungen KW - Intergenerational distribution Y1 - 2018 UR - https://opus4.kobv.de/opus4-whu/frontdoor/index/index/docId/702 UR - https://nbn-resolving.org/urn:nbn:de:hbz:992-opus4-7027 SN - 2511-1159 PB - WHU - Otto Beisheim School of Management CY - Vallendar ER -