Study On The Influence Of Serious Illness Insurance For Urban And Rural Residents On Household Consumption

As China’s economic transformation and upgrading from high-speed development to high-quality development,the growth rate of household consumption rate has slowed down and the savings rate has been high.The 14 th Five-Year Plan proposed to continue to expand domestic demand and increase consumption.The director of the World Bank’s China Bureau pointed out that China’s social security system is not perfect,and residents have high preventive savings,which does not fully release the consumption potential.In addition,the aging in China is becoming more and more serious,the physical health of the elderly group is declining,and even the sub-healthy people over 40 years old account for 53%.Residents’ medical expenses increase,and this part of the expenditure has gradually become an important factor restricting family consumption.Although the existing basic medical insurance system in China is relatively perfect,its guarantee level is still not high,and the phenomenon of "causing poverty due to illness and returning to poverty due to illness" occurs from time to time.Based on this background,in August 2012,the National Development and Reform Commission and six other government departments jointly issued the Guiding Opinions on the Work of Serious Illness Insurance for Urban and Rural Residents,which proposed to establish a serious disease insurance system for urban and rural residents on the basis of basic medical insurance.Exploring the impact of serious disease insurance on residents’ consumption is an important basis for assessing whether the serious disease insurance policy is effective,and it also can put forward suggestions for the improvement of the policy.In order to discuss the influence of serious disease insurance on household consumption,this paper uses the dual difference model to discuss the following questions: first,whether the impact of serious illness insurance on household consumption and whether the influence is significant;second,the family consumption is further classified to analyze the influence of family consumption;third,discuss the impact of serious disease insurance on family consumption according to different regions.In the first part,this paper sorts out the important literature achievements at home and abroad,and sorts out the discussion and research on medical insurance and consumption relationship at home and abroad.In the second part,the concept definition and theoretical analysis are carried out.The main theories include preventive savings theory,behavioral life cycle theory,psychological account theory and health demand human capital theory.We hope to make in-depth analysis with the help of these theories.In the third part,the serious disease insurance is summarized,including the development and status quo of serious disease insurance,guarantee level,financing mechanism and operation mechanism.This paper makes an empirical analysis of China Family Tracking Survey(CFPS)based on the panel data of the selected variables.First,the total household consumption is about3.2%,the household consumption is 7.94% and 4.16% of food consumption,respectively,and the influence of serious disease insurance has different consumption in different regions.Finally,a robustness test was performed,which confirmed the robustness of the conclusions.