Medical insurance participation and the ageing population subjective well-being: an empirical analysis based on CGSS 2015 data

Abstract

Using the Chinese General Social Survey (CGSS 2015) data, the current research is to examine the relationship between medical insurance and subjective well-being for elderly people in China. To test our hypothesis, we first generated and tested an ordered probit model, as the dependent variable in our research is subjective well-being, additionally, as in China we have different medical insurance types, we integrated them and classified them as social basic medical insurance, and commercial medical insurance. Also, as the causal identification problem and endogenous problem exist, we introduced another main dependent variable as the individual’s social security satisfaction in our research. The implications derived from this study are summarized as conclusions.