Abstract
Abstract Drawing on nationwide data from the 2021 China General Social Survey, this study leverages ordered logit regression and propensity score matching to delve into the intricate relationship between commercial health insurance and subjective well-being among Chinese residents. The analysis unveils a robust, positive association between commercial health insurance and subjective well-being, with its impact most evident at intermediate levels of happiness. Notably, the study pinpoints a more pronounced effect among the middle-high income group. However, closer scrutiny of the marginal effects reveals a heightened need for commercial health insurance among low-income individuals, suggesting a potential avenue for policy intervention. In light of these findings, we recommend that the Chinese government actively foster the development of commercial health insurance, aligning it effectively with the existing system, to bolster the subjective well-being of the entire population.
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