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Comparison of health efficiency between Pension security and Medical security for the elderly

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DOI: 10.23977/ferm.2020.030101 | Downloads: 28 | Views: 1309

Author(s)

Li Yang 1, Chu Fuling 1

Affiliation(s)

1 Central University of Finance and Economics, Beijing, China

Corresponding Author

Li Yang

ABSTRACT

Health issues have become one of the most important issues for the elderly in their later years. Especially with the aging of our country, "Healthy China" has become a hot issue for the government and academia. Based on the CLHLS 2014 survey data, this paper uses a structural equation model for analysis. The study found that both old-age security and medical security significantly improve the subjective health indicators of the elderly in their own evaluation of health, evaluation of health by others, health change, and life satisfaction. reducing two-week discomfort in the elderly and two years of severe illness indicators of objective health levels. In general, old-age security and medical security have improved the health of the elderly, but compared to old-age security, medical security produces better health efficiency. The possible reasons for this result are: firstly, the improvement of the health level brought by medical security is more intuitive. Secondly, the elderly's health needs remain at a lower level that can cure diseases, and the health benefits brought by old-age security are mainly reflected in disease prevention. Therefore, in guaranteeing the current level of medical security and the level of protection, we should vigorously develop old-age security, so that the elderly's focus on health level awareness is shifted to disease prevention, from passive treatment to active prevention, thereby improving the national health level.

KEYWORDS

Pension security, Medical security, Structural equation, Efficiency comparison

CITE THIS PAPER

Li Yang, Chu Fuling, Comparison of health efficiency between Pension security and Medical security for the elderly. Financial Engineering and Risk Management (2020) 3: 1-13. DOI: http://dx.doi.org/10.23977/ferm.2020.030101.

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