Research On The Influence Of Basic Medical Insurance For Urban Workers On Household Consumption Of Different Income Classes

In recent years,China’s economy has developed rapidly,but according to various data,we can see that while China’s resident savings rate increases year by year,the consumption rate continues to decline,and the contribution of consumption to economic growth is also decreasing.The 2020 data show that the growth rate of residents’ consumption continues to lag behind the growth rate of GDP.With economic development,the residents’ consumption rate does not rise but falls.However,as the "troika" of economic development,consumption is very important to the development of the national economy.How to release the huge potential of domestic consumption demand has become an urgent problem to be solved,and it is also a great challenge facing China at present,At present,China is seeking various ways to improve residents’ consumption.According to the analysis of scholars at home and abroad,an important reason why China’s savings rate increases and consumption rate decreases year by year is that with the economic development,the medical cost increases significantly.In order to ensure the family living standard when the actual disposable income decreases due to uncertain events in the future,Chinese Residents are constantly increasing the preventive motivation of money holding,that is,increasing preventive savings,As a result,consumption is reduced.Therefore,the improvement of the social security system has become an important measure to stimulate residents’ consumption,and increase residents’ consumption by reducing the income loss caused by future uncertain events.Since the 1970 s,the relationship between social security and residents’ consumption has become the core issue of economic growth,which has been widely concerned by many scholars at home and abroad.As an important part of the social security system,the basic medical insurance is very important.It is enforced through laws and regulations,and implements the basic mode of combining the social overall medical fund with the individual medical account.It is the same as the pension,work-related injury,unemployment and maternity insurance,All belong to a basic insurance item of social insurance.Theoretically,the purchase of basic medical insurance for urban employees provides a stronger guarantee for the possible large medical expenses of residents’ families in the future,and the Preventive Savings of residents for future medical expenses will be reduced accordingly,so as to increase the disposable income of families,stimulate consumption and optimize the consumption structure of residents.How do different levels of consumption affect the effectiveness of families? In order to explore this problem,this paper has carried out a series of studies.This paper uses the micro data of CFPS in 2018 to obtain the per capita disposable income of the family based on the per capita disposable income / population of the family.On this basis,according to the grading standard of China’s per capita disposable income in2018 disclosed by the National Bureau of statistics,the family sample is divided into low-income families,middle-income families and high-income families;After selecting appropriate individual and family characteristic variables and appropriate matching methods to match the propensity scores of all levels of income families,regression analysis and robustness test,the following conclusions are obtained: the participation of low-income families and middle-income families in urban workers’ basic medical insurance has a significant negative impact on the total consumption at the level of 1%,High income families have no significant impact;The participation of middle-income families and high-income families in the basic medical insurance for urban workers can significantly optimize their consumption structure,and the consumption structure of low-income families will deteriorate significantly after they participate in the basic medical insurance for urban workers;Participating in the basic medical insurance for urban workers has significantly reduced the consumption of means of subsistence of middle-income families and high-income families at the level of 1% and 10% respectively,while that of low-income families has increased significantly;The consumption of development materials of low-income families decreased significantly,while that of middle-income families increased significantly,while that of high-income families did not change significantly;The consumption of materials enjoyed by all income families has increased significantly at the level of 1%,1% and 10% respectively.Finally,this paper analyzes the heterogeneity between urban and rural areas,and puts forward relevant suggestions to improve the basic medical insurance for urban employees and improve the current residents’ consumption,that is,to implement differential rates or subsidies for low-income and middle-income families to participate in the basic medical insurance for urban employees,and strengthen the publicity of low-income families on the importance of development materials,We will give subsidies to middle-income families and high-income rural families to upgrade their means of subsistence,and increase the premium rate and amount of basic medical insurance for urban workers for high-income families.