The Impact Of Commercial Health Insurance On Household Consumption In China

Commercial health insurance is an important part of the insurance industry,typically accounting for one-third of industry premiums in mature insurance markets.Commercial health insurance,an important part of China’s social security system,has played an irreplaceable role in improving the national health level,reducing residents’ risks,and reducing family medical costs,and has also played a good supplementary role in endowment insurance and health insurance.Moreover,with the rapid development of China’s financial and insurance industry,commercial health insurance has also been developed,and the government has also introduced a number of relevant policies.However,at present,there is little research on commercial health insurance at home and abroad,and social medical insurance is a major livelihood project given to the state,and its function in the economy and society has been deeply discussed by many scholars.Therefore,we will compare the role of social medical insurance on consumption to commercial health insurance,and study the impact of commercial health insurance on residents’ consumption on the basis of the previous research on the promotion of social medical insurance on consumption.Thisthesis uses CHFS data "China Household Finance Survey Data" for empirical research,and its data source is statistics from Southwestern University of Finance and Economics.Based on the use of basic regression analysis,in order to draw more accurate conclusions,in order to deal with the self-selection and endogenous problems of samples,thisthesis introduces a propensity score matching and treatment effect model,and analyzes the impact of China’s commercial health insurance on the consumption and consumption structure of Chinese residents by controlling factors such as income,assets,work unit,job nature,social insurance,other security and demographic characteristics.The empirical results obtained in thisthesis show that commercial health insurance shows a significant positive correlation on the consumption level of residents at the level of 1%,and a significant negative correlation with the consumption structure at the level of 1%.It shows that the purchase of commercial health insurance has a positive role in promoting the consumption level of residents,and this effect has a greater effect on the promotion of non-essential consumption.Because commercial health insurance has greater flexibility in household consumption than medical insurance and pension insurance.The further prove that the vigorous development of commercial health insurance can not only improve the overall structure of China’s medical system and build a multi-level health security system,but also produce strong economic effects such as adjusting the consumption structure and stimulating domestic demand.Therefore,it is of great significance to explore the impact of commercial health insurance on residents’ consumption and the development of insurance.