Reviving the Social Contract: Economic Strategies to Promote Health Insurance & Long-Term Care

William A. Galston
Bill Galston
William A. Galston Ezra K. Zilkha Chair and Senior Fellow - Governance Studies

February 28, 2007

Americans are living longer, but not necessarily living better. With fewer Americans saving adequately for retirement or their long-term health needs, and the corresponding decline in public and private pension plans, we are facing both a retirement and health security crisis.

The next President should explore programs that:

  • distinguish more clearly between savings and insurance when addressing individual financial security
  • mandate both personal savings and the purchase of insurance against risk to avoid free-riding, security-oriented programs
  • offer subsidies to mitigate the burdens of saving and insurance premiums on low-wage workers and their families
  • disseminate information and facilitate individual choice
  • require all individuals to pay risk-based prices for insurance against self-incurred risks

Download Position Paper (PDF) 
Download Fact Sheet (PDF)

Opportunity 08 aims to help 2008 presidential candidates and the public focus on critical issues facing the nation, presenting policy ideas on a wide array of domestic and foreign policy questions. The project is committed to providing both independent policy solutions and background material on issues of concern to voters.