The Impact Of Commercial Health Insurance On Household Consumption

Based on the country's continuous introduction of relevant policies on medical and health insurance,the medical and health of residents are paid more and more attention.As one of the three pillars of the financial system,insurance has gradually attracted widespread attention as it plays an important role in the economy and people's livelihood.Commercial health insurance,as an important part of the insurance industry,usually accounts for one-third of the industry's premiums in the mature insurance market.China's commercial health insurance has basically maintained a double-digit rapid growth in recent years,but China's commercial health The insurance density and insurance depth of insurance are much lower than those of mature insurance markets such as the United States and Japan.As an important part of China's medical security system,commercial health insurance plays an irreplaceable and important role in improving the health level of the whole people,the level of medical services,reducing the health risks of residents and reducing the economic pressure of family medical care.It is a powerful social basic medical insurance.However,due to the relatively low proportion of China's commercial health insurance in the industry,the rapid development beyond the industry's growth rate in recent years has gradually become prominent,so there is relatively little research on commercial health insurance.The social medical insurance is a basic people's livelihood security project that the country focuses on.The role of social medical insurance in the economy and society has caused extensive discussion by many scholars,especially the research on social medical insurance on income distribution and residents' consumption.In the current critical period of China's economic transformation and upgrading,expanding domestic demand and building a well-off society in an all-round way,how to stimulate residents 'consumption and improve their consumption has become a hot topic of concern.This paper draws on the research methods of social medical insurance and focuses on commercial health insurance for residents' consumption And the impact of consumption structure.According to the life cycle hypothesis,preventive savings theory,and theories related to health capital,this paper believes that commercial health insurance can improve residents 'health and reduce preventive savings,thereby stimulating residents' consumption and improving consumption structure.According to the "Chinese Family" provided by CHFS "Financial Investigation Data" conducts empirical research.In the empirical process,this paper draws on and incorporates the previous research experience and research methods.Based on relevant variables such as income,assets,work unit,nature of work,social insurance and other insurance guarantees,and demographic characteristics,the impact of purchasing commercial health insurance on residents 'consumption and consumption structure is studied.When using the propensity score matching method and the treatment effect model for analysis,since both need to first estimate the influencing factors of purchasing commercial health insurance,this paper adds the education level,household registration,and age to the first step estimation model of both.,Income and other variables to analyze the purchase factors of commercial health insurance.The empirical results of this paper show that commercial health insurance can be positively correlated with residents' consumption at a 1% significance level,and negatively correlated with the proportion of necessary consumption,that is,the consumption structure variables in this paper,at a 1% significance level,namely It shows that the purchase of commercial health insurance can significantly promote the consumption of residents,especially the growth of non-essential consumption,improve the consumption structure of residents,and after solving the problems of self-selection and endogenousness,the estimation results based on the treatment effect model in this paper are far greater.Based on the estimation results of OLS.In order to ensure the reliability of the empirical results in this paper,in addition to the robustness test of the processing effect model,this paper uses three different matching methods in the propensity score matching method to estimate the processing effect of the commercial health insurance treatment group,and obtains The results are consistent with the above results.In addition,this article also carried out a group matching analysis based on work unit,work nature and household registration,and found that the purchase of commercial health insurance between samples of different household registration,work nature and work unit types has a significant effect on consumption difference.Based on empirical research,this paper concludes that the purchase of commercial health insurance can significantly promote residents' consumption,especially the non-essential expenditure of residents.Suggestions to increase residents' consumption and improve the role of consumption structure.