Study On The Impact Of The Development Of Commercial Health Insurance On The Consumption Of Urban Residents In China

After 40 years of reform and opening up,China has also experienced rapid development.China’s insurance industry has become the second largest insurance market in the world.At the beginning of 2020,with the outbreak of novel coronavirus,Chinese people’s awareness of commercial health insurance has been greatly improved.Although China’s basic medical security system has covered medical insurance for urban and rural residents and medical insurance for urban employees,covering all residents,it is still "low-level,wide coverage and basic insurance".When Chinese residents face serious illness,they still have a great risk of returning to poverty due to illness.Most residents will still reduce consumption and make more preventive savings.Expanding consumer demand is an important measure to stimulate domestic demand.At present,residents’ consumption plays a very important role in stimulating economic growth and promoting the sustainable development of China’s economy.It is also mentioned in the report of the 19 th national congress that consumption plays a fundamental role in economic development,and the report of the 19 th National Congress also emphasizes the need to continue to improve the system and mechanism to promote consumption.Consumption is still the first driving force of economic growth.Based on the data of 31 provinces,cities and autonomous regions in China from 2011 to2019,this paper selects the development index of commercial health insurance to study the impact of commercial health insurance on Residents’ consumption,and uses six factors as control variables: per capita disposable income,elderly dependency ratio,basic medical insurance coverage,consumption habits,urbanization level and industrial structure level.By establishing static and dynamic panel regression models,Study the impact of commercial health insurance on the consumption of urban residents;Then,the intermediary effect model is established to study the impact mechanism of commercial health insurance on urban residents’ consumption;Finally,China is further divided into East,middle,West and northeast regions for heterogeneity research.Finally,the conclusion is drawn: the rapid development of commercial health insurance in China has a positive impact on Residents’ consumption;By purchasing commercial health insurance,residents can not only reduce uncertainty risk and stabilize expectations,but also further release consumption potential by reducing Preventive Savings,so as to promote China’s economic growth;At the same time,it can be concluded that there are obvious differences in commercial health insurance in China,but the gap is gradually narrowing.According to the research conclusion,in order to promote the development of commercial health insurance,release the consumption potential of Chinese residents and realize economic boost,the following suggestions are put forward: improve the insurance proportion of commercial health insurance and carefully plan the development of commercial health insurance products;Deepen residents’ understanding of commercial health insurance and improve residents’ participation;Integrate regional resources and broaden the market of commercial health insurance.