Analysis Of Influential Factors Of The Demand Of Commercial Health Insurance In China

With the gradual deepening of reform and opening up,China’s economy has developed rapidly,people’s income level has increased year by year,but at the same time,people’s health also has many hidden dangers.It is a good choice of purchasing commercial health insurance.to transfer health risks,manage and control them,and purchase commercial health insurance.However,after several years of development,the development of China’s commercial health insurance still needs to be improved.In 2018,the original premium income of China’s commercial health insurance was 544.81 billion yuan,accounting for 20% of the life insurance premium income and only 14.33% of the whole insurance market.The development of China’s commercial health insurance is relatively backward,In a sense,this is also an important reflection of the broad development space of commercial health insurance in China.On the one hand,there is a huge demand for health insurance,on the other hand,there is insufficient effective demand for health insurance.How to transform these potential demand into effective demand is the focus of commercial health insurance research at present.Firstly,this paper analyzes the needs of commercial health insurance in China and introduces a series of problems in the development of commercial health insurance.Then,the factors affecting the demand of commercial health insurance in China are studied in detail from the perspectives of society,economy and population.Among them,economic factors mainly analyzed four aspects: GDP,income level,inflation and personal income tax;social factors mainly analyzed two aspects: social medical insurance level and urbanization level;population factors mainly analyzed four aspects: aging,health status and insurance awareness.On this basis,through the panel data of 31 provinces,municipalities and autonomous regions in China from 2011 to 2017,we selected GDP,total wages of urban employees,consumer price index,income of urban basic medical insurance fund,proportion of urban population,elderly dependency ratio and financial education.The impact of seven indicators of expenditure on health insurance premium income.On the basis of empirical analysis,this paper puts forward some suggestions for the government and insurance companies.The suggestions to the government are to improve the income level of residents,strengthen the effective supervision of insurance companies,enhance citizens’ insurance awareness,increase tax preferential policies,and establish a data sharing platform.The suggestions to insurance companies are to reflect product differentiation,enhance the level of specialization,accurately locate customer groups,and coordinate development with social insurance.