A Study On The Impact Of Commercial Medical Insurance On The Subjective Well-being Of Chinese Residents

The material conditions of the people have been more satisfied than before,and the demand for health and well-being among the masses in our country has become stronger and stronger.the Party has launched a series of major initiatives in healthcare and social security to promote the equalisation of basic public services,along the lines of holding fast to the bottom line,highlighting priorities,improving systems and guiding expectations.Since the 18 th Party Congress,efforts have been made to make up for the shortcomings of people’s livelihood,crack the difficult problems of people’s livelihood,make the fruits of development benefit all people in a greater and fairer way.The party follows the idea that the bottom line should be held firm,highlighted to be focused,while continuously improving the system and guiding expectations,and strives to make the development of basic public services more balanced and equalized.An important component of social security,on the happiness of residents will help to promote the well-being of people’s livelihood.This paper investigates the impact of commercial medical insurance on happiness using the ordered probity model with the 2017 China General Social Survey(CGSS)data as a sample.The results show that(1)the coverage rate of commercial medical insurance in China is at a low level,with a full sample coverage rate of 11.7%;(2)commercial medical insurance significantly increases the level of happiness of the insured,with individuals who have commercial medical insurance having at least 8% higher happiness than those who do not;(3)the positive effect of commercial medical insurance differs across urban and rural areas,with stronger positive utility for rural areas,due to(4)The "security effect" of commercial health insurance is one of the channels to increase happiness,with individuals who purchase commercial health insurance having a 15% increase in security and thus happiness.(5)The purchase of commercial health insurance may be one of the reasons for the difference in happiness of different income groups.Based on the above results,with the purpose of improving people’s happiness,this paper argues that: promoting the development of commercial medical insurance,guiding and publicizing the purchase of commercial medical insurance,promoting commercial medical insurance through tax advantages and tax deferral in order to improve the coverage rate of commercial medical insurance;implementing "new rural construction",increasing the disposable income available to farmers,improving health care services;the income gap,and promote product diversification and differentiation to meet the needs and purchasing power of different groups.