Research On The Impact Of The Integration Of Medical Insurance For Urban And Rural Residents On Residents’ Consumption

Against the backdrop of rising international trade protectionism and the continued spread of COVID-19,China’s economic development is facing severe challenges.Based on this,the government put forward the strategic policy of further expanding domestic demand and unblocking internal circulation,and it is necessary to fully tap the consumption potential of residents and promote economic growth with consumption.At the same time,for a long time,China’s medical security system has existed such practical problems as unbalanced development and insufficient development,and residents’ uncertainty about future health risks and heavy medical burden make residents’ preventive savings excessive and effective demand insufficient.Promoting the reform of the medical security system and integrating medical insurance for urban and rural residents have become important measures to solve these problems.As a system reform in the area of people’s livelihood,the integration of medical insurance for urban and rural residents can play the role of alleviating health risks and reducing the medical burden,stabilize residents’ consumption expectations,and make people willing and bold to consume.Therefore,under the new development pattern,it is of great practical significance to study how to further play the function of preventing risks and stabilizing consumption of medical insurance for urban and rural residents,and stimulate the release of residents’ consumption potential.From the perspective of micro-individuals,this paper puts forward a research hypothesis on the basis of theoretical analysis,and then analyzes the current situation of urban and rural residents’ medical insurance and residents’ consumption.In the empirical analysis,a multi-period differential model was constructed using the panel data of the China Health and Retirement Longitudinal Study(CHARLS)in 2011,2013,2015 and 2018 to empirically test the impact of the integration of urban and rural residents’ medical insurance on residents’ consumption.Second,a series of robustness tests were conducted on the empirical results,including parallel trend test,PSM-DID test and placebo test.Then,based on the differences in consumption types,urban and rural regions and income levels,the heterogeneity analysis was conducted to investigate the impact of the implementation of medical insurance integration policy on the consumption of different types and characteristics of residents.Finally,from the perspective of residents’ expected health level and medical economic burden,the impact mechanism of the implementation of medical insurance integration policy on residents’ consumption was explored.The findings are as follows: First,the integration of medical insurance for urban and rural residents can significantly promote the growth of residents’ consumption.Second,compared with subsistence consumption,the integration of medical insurance for urban and rural residents plays a greater role in promoting residents’ development and enjoyment consumption,and further optimizing and upgrading the consumption structure.Third,the policy effect of the integration of medical insurance for urban and rural residents on the consumption of rural residents and low-income groups is remarkable,and the social vulnerable groups benefit a lot.Fourthly,the promotion effect of the integration of medical insurance for urban and rural residents on residents’ consumption follows two mechanisms.One is to reduce the risk of disease and improve the expected health level of residents,thereby weakening the motivation of saving and enhancing the willingness to consume.The second is to reduce residents’ out-of-pocket medical expenses,reduce the economic burden of medical care,and enhance consumption power.Based on the above conclusions,this paper puts forward policy suggestions such as further improving the coordination level of medical insurance for urban and rural residents,promoting the preferential treatment of medical insurance to the vulnerable groups,optimizing the process of medical services,and establishing multiple security mechanisms.