An Empirical Study On The Relationship Between Commercial Health Insurance And Resident Consumption In China

Now our country is in the transition period of economic development,we must deepen the reform in an all-round way and accelerate the transformation of the mode of economic development,stimulate the current consumption of residents and excite domestic demand.Although many factors,such as income level,inflation rate and uncertainty risk,will affect the effective consumption demand of residents,the impact of uncertainty risk on the consumption demand of residents is greater than other factors.A large number of studies have shown that a sound social security system is an important way to reduce the risk of uncertainty.Commercial insurance is an irreplaceable part of the social security system and the mainstay of building a multi-level social security system.Residents can reduce the uncertain risks they face by buying commercial health insurance,thereby reducing Preventive Savings and increasing current consumption.Although China's commercial health insurance started relatively late,with the deepening of reform and opening up,commercial health insurance,as an important part of China's social medical security system,plays an irreplaceable role in the process of building a more comprehensive and multi-level social security system.This paper uses the data of 30 provinces,municipalities and autonomous regions in China from 2002 to 2017,the variables are consumption expenditure,disposable income per capita,dependency ratio between the elderly and children,consumption habits of consumers,uncertainty faced by consumers,inflation rate,coverage rate of basic medical insurance and insurance density of commercial health insurance,establishment of panel data regression model,empirical study on the relationship between commercial health insurance and household consumption in three regions.The research shows that although there are differences in consumption level and purchase of commercial health insurance in the eastern,central and western regions of China,the differences are shrinking.By purchasing commercial health insurance,residents can reduce the uncertainty they face,stabilize expectations,reduce preventive savings,release consumption potential,and stimulate domestic demand,thus promoting economic growth in China.Compared with developed countries,China's commercial health insurance has huge development space and market potential.Based on the current situation of research on commercial health insurance and the results of empirical research,this paper puts forward relevant policy recommendations:(1)Strengthen the propaganda of commercial health insurance and raise residents' awareness of health insurance;(2)Increasing the disposable income of residents and stimulating the effective demand of commercial health insurance;(3)Carefully plan the development of health insurance products to satisfy the insurance needs of different consumer groups;(4)Improve the management and service level of insurance companies,simplify the purchase and payment process of commercial health insurance;(5)Accelerate the integration of resources in the east,central and western regions and explore the potential market of commercial health insurance;(6)Establish a sound supervision and management mechanism to promote the healthy development of the commercial health insurance market.