Study On The Financing Mechanism Of Long-term Care Insurance Under The Background Of Population Aging

China’s aging population has grown rapidly since 2000.In 2019,there were 253.88 million people aged 60 and above,18.1 percent of the total population,and 176.03 million people aged 65 and above,accounting for about 12.6 percent of the total population.Not only that,the birth rate has fallen by around 13%,and the median age of the population has continued to fall.From various trends,the aging rate of population age in China will remain high for a long time in the future,and the aging population has become an important risk and difficulty for China in the new era.Similarly,about 20 percent of the elderly in China are disabled or semi-disabled,with a population of more than 40 million.According to data from the national health and family planning commission,in 2016,65 percent of the population over the age of60 in China suffered from chronic diseases,or nearly 150 million people.At the same time,the number of alzheimer’s cases among the elderly is about 1,000 a year,the fastest rate in the world.The elderly population is large,and the health condition is not optimistic,so the elderly population’s medical care problem has posed an unprecedented challenge to China’s old-age care,medical treatment.Against this grim background,in 2016,the general office of social security of the People’s Republic of China issued the guidance on carrying out the pilot program of long-term care insurance system,which selected 15 cities from across the country to carry out the pilot program of long-term care insurance policy,such as shanghai,and took jilin and shandong provinces as the key provinces for the pilot program.In 2018,there were about 22 million people aged 60 and above in shandong,accounting for one fifth of the province’s total population and 4 percent higher than the national average.The population aged 65 and above reached 15 million,accounting for 1/6 of the total population of the province and 3 percent higher than the national average.In response to the central government’s decision and deployment,and in the face of the worrying reality of aging in the province,the opinions of the general office of the shandong provincial people’s government on the pilot implementation of the long-term care insurance system for employees was released in 2017.In order to establish the long term care insurance system,it is necessary to construct a reasonable and applicable "financing mechanism",which is a very important factor in the long term care insurance system.Firstly,this paper studies and discusses the background and theoretical foundation of the long term insurance financing mechanism,and compares and analyzes the financing mechanism of foreign typical developed countries and the financing scheme of domestic pilot cities.Secondly,taking shandong province as an example,the author USES relevant data such as statistical yearbook to establish the financing model of the international labor organization.By calculating the financing level of long-term care insurance contribution rate of 1.39% in shandong province in 2017,the author further designs the financing mechanism of shandong provincial government assuming 40% and enterprises and individuals 30% respectively.Finally,on the basis of the research,Suggestions are provided for the future choice of long-term care insurance financing mechanism in China from the aspects of broadening financing channels,introducing social forces,scientifically dividing financing responsibilities,and improving laws and regulations.