《保险研究》20200107-《医疗保险、健康资本与家庭金融资产配置研究》（王稳、孙晓珂）

［摘   要］家庭金融(Household Finance)和家庭保险(Household Insurance)是近年来理论界的热点研究领域之一。家庭拥有的医疗保险保障水平如何影响个体的健康状况,进而健康资本如何影响家庭金融资产的配置是保险学研究的一个重要课题。本文通过理论推导和实证分析,聚焦健康资本因素,研究医疗保险、健康资本对我国居民家庭金融资产配置行为的影响及作用机理。结果表明：整体而言,医疗保险及健康资本水平对我国居民家庭风险性金融资产的持有概率及所占比重都有一定影响,但影响程度不同,医疗保险的促进作用最大,健康资本水平次之,医疗保健支出的促进作用最小。从作用机制的角度看,医疗保险对家庭金融资产配置行为主要通过直接效应发挥作用,原因是医疗保险没有显著影响自评健康状况,而医疗保健支出能够影响健康资本水平,从而对家庭金融资产配置行为产生重要影响。

［关键词］医疗保险；健康资本；家庭资产配置；风险性金融资产

［基金项目］对外经济贸易大学研究生科研创新基金资助(项目编号：201821)。

［作者简介］王稳,对外经济贸易大学保险学院教授、博士生导师,中国出口信用保险公司首席经济学家；孙晓珂,对外经济贸易大学保险学院博士生。

Medical Insurance,Health Capital and Household Financial Asset Allocation

WANG Wen,SUN Xiao-ke

Abstract：Household finance and household insurance are hot fields of the theoretical circle in recent years. How does the medical insurance level of a family affect the individual′s health,and furthermore,how does the health capital influence household financial asset allocation,have  become an important subject of study in the insurance field. Focusing on health capital,this article studied the effect and mechanism of medical insurance and health capital on household financial asset allocation by theoretical and empirical analysis. The results show that: both medical insurance and health capital have influence on the probable ownership of and proportion of risky financial asset on the whole,but to different extent. Medical insurance has the greatest promoting effect,followed by health capital,and the medical care spending’s promoting effect is the least. From the mechanism perspective,medical insurance has direct effects on household financial asset allocation,because medical insurance does not significantly affect self-rated health status,and medical care spending has impact on health capital,which further influences household financial asset allocation.

Key words：medical insurance;health capital;household asset allocation;risky financial asset