Study On The Impact Of Health Shock Of Elderly On Household Consumption Expenditure

Objective:From the perspective of the elderly,this article introduces their health shocks into the study of the impact on household consumption,discusses the impact of the elderly health shocks on household consumption expenditures,and also specifically examines basic medical insurance.Different types of medical insurance,such as major illness insurance system,commercial medical insurance,etc.,have the effect of mitigating health shocks and promoting consumption.Finding the root causes of restraining household consumption and factors that promote household consumption motivation are conducive to the improvement of economic structure and economic development.It is helpful to find out where China’s existing medical security system can be improved,so that medical insurance can better play a role in household consumption promotion and targeted poverty alleviation strategies.Methods:Object of this article is the elderly aged 60 and above.It is planned to use the data of the sixth national health service utilization survey in Jiangsu Province in 2018,and use OLS regression for empirical research.Research,control family and individual related characteristic variables,and deeply explore the impact of elderly health shocks on household consumption expenditure from the perspective of microeconomics,respectively,on the total sample,the sample of rural households,the sample of urban households,the sample of low-income households,and the sample of middle-income households.Regression analysis is carried out on samples and samples from high-income households to comprehensively and systematically study the changes in household consumption expenditures during the health shocks suffered by Chinese elderly households,as well as whether basic medical insurance,critical illness insurance systems,and commercial medical insurance have played a role and what they have played effect.Results:The explanatory variables studied in this paper are household consumption expenditures,which mainly include total household consumption expenditure,household survival consumption expenditure(ie household food consumption expenditure),and family development consumption expenditure(ie household medical consumption expenditure and household health consumption expenditure).The core explanatory variable is a health shock variable.In the first two weeks of the survey,whether you quit work,quit school,or stayed in bed for 1 day or more due to discomfort(including obvious lack of energy in the elderly,loss of appetite,etc.)was used to measure it.In this study,there are a total of 3273 elderly people aged 60 and over,of which 216 people are affected by health impact(accounting for 6.6%of the elderly population),and the sample of elderly people who are not affected by health impact is 3057(accounting for the elderly population).93.4%).The average total consumption expenditure of the sample households was 46040.82 yuan(10.446 after taking the logarithm);the average total income of the sample households was 69394.11 yuan(after the logarithm was taken)10.733).The regression results of the full sample show that the health shock of the elderly has a significant positive impact on the total household consumption expenditure and the developmental consumption expenditure of the family,but the impact on the survival consumption expenditure of the family is not statistically significant.When the elderly suffer from health shocks,total household consumption expenditures increase by approximately 15.2%,and household developmental consumption expenditures increase by approximately 53.7%.Major illness medical insurance reduces household consumption expenditures,while commercial medical insurance promotes household consumption expenditures.Basic medical insurance does not have a significant impact on household consumption expenditures.Family size,family income,etc.also have a significant positive impact on household consumption expenditures.The regression results of the urban and rural sub-samples show that the health shock of the elderly has a significant positive impact on the developmental consumption expenditure of rural households.When the rural elderly are affected by the health shock,the total household consumption expenditure increases by about 69.6%.Comparing the regression results of different income groups,it is found that when low-income elderly suffer a health shock,there is a significant positive impact on the total household consumption expenditure.The health shock of the elderly will increase the total consumption expenditure of low-income households by 27.4%;the elderly in different income groups Health shocks have no significant impact on family survival consumption expenditures;elderly health shocks have a significant positive impact on the developmental expenditures of middle-income families,and elderly health shocks will increase the developmental consumption expenditures of middle-income families by 71.3%.By constructing basic medical insurance,critical illness insurance,commercial medical insurance,and health shocks,it is found that basic medical insurance can significantly smooth the impact of elderly health shocks on the total household consumption expenditure,and critical illness insurance can significantly smooth the elderly health shocks on the family.The impact of subsistence consumption expenditures,and significantly promotes household subsistence consumption expenditures.Conclusion:The health shock of the elderly has a positive impact on household consumption and development expenditure;commercial medical insurance can promote various household consumption expenditures,and basic medical insurance can smooth the elderly’ s impact on household consumption expenditures when they suffer from health shocks.Critical illness insurance can significantly smooth the impact of the elderly on the family’s survival consumption expenditure when they suffer from a health shock,and significantly promote the family’s survival consumption expenditure;family size and family income have a significant positive effect on household consumption expenditures.To influence.Therefore,the government should put the protection of the health of the elderly in the strategic position of priority development;pay attention to the heterogeneity of the impact of the health of the elderly on the consumption of urban and rural households and households with different incomes,and use financial resources more accurately and rationally;and pay attention to the impact of commercial medical insurance on the elderly.The protection function of family consumption supports and guides the development of commercial medical insurance;increase employment-related investment and pay attention to household consumption behavior of single elderly people.