A study on the sustainability assessment of China's basic medical insurance fund under the background of population aging-evidence from Shanghai.

Objective: As China's population aging process accelerates, the expenditure of China's basic medical insurance fund for employees may increase significantly, which may threaten the sustainability of China's basic medical insurance fund for employees. This paper aims to forecast the future development of China's basic medical insurance fund for employees in the context of the increasingly severe aging of the population. Methods: This paper taking an empirical study from Shanghai as an example, constructs an actuarial model to analyze the impact of changes in the growth rate of per capita medical expenses due to non-demographic factors and in the population structure on the sustainability of the basic medical insurance fund for employees. Results: Shanghai basic medical insurance fund for employees can achieve the goal of sustainable operation in 2021-2035, with a cumulative balance of 402.150-817.751 billion yuan in 2035. The lower the growth rate of per capita medical expenses brought about by non-demographic factors, the better the sustainable operation of the fund. Conclusion: Shanghai basic medical insurance fund for employees can operate sustainably in the next 15 years, which can further reduce the contribution burden of enterprises, which lays the foundation for improving the basic medical insurance treatment for employees.

Children's internal migration and subjective wellbeing of older parents left behind: Spiritual or financial support?

Introduction: Against the background of population aging and large-scale internal migration, this study uses an ordered logit with two-way fixed effects to examine the effect of children's internal migration on the subjective wellbeing of parents left behind. The study is based on the China Family Panel Studies database. Methods: Data were obtained from CFPS (China Family Panel Studies), and ordered logit with two-way fixed effects was used to test the total effect of children's internal migration on subjective wellbeing of parents left behind, and KHB test was used to separate intergenerational spiritual support and intergenerational financial support to examine the intergenerational support preferences of parents left behind. Results: The results show that children's internal migration has a significant negative effect on the subjective wellbeing of parents left behind, mainly through the reduction of intergenerational spiritual support. Furthermore, intergenerational financial support significantly mitigates this negative effect. There is heterogeneity in the direction of the total wellbeing effect across parents' preferences, as well as in the masking effect of financial support. However, the effect of financial support never fully offsets the effect of spiritual support. Discussion: To cope with the negative effects of children's internal migration on parents, positive measures should be taken to change parental preferences.