This is a beta course, so its structure, chapters, and examples may continue to change.
Social Insurance
Social insurance is basic protection, so do not let your contributions lapse. It covers medical, retirement, unemployment, work injury, and maternity risks.
- Pension insurance: the total years you have contributed determine the pension you draw after retirement.
- Medical insurance: reimbursement for hospital stays and outpatient visits, including the pooled fund for major illness; a break in contributions can affect continuous reimbursement.
- Unemployment insurance: unemployment benefits are payable if you meet the conditions.
- Work injury insurance: medical care and compensation for work-related accidents.
- Maternity insurance: prenatal check-ups, childbirth costs, and maternity allowances (often merged with medical insurance).
- The waiting period or the continuous-contribution requirement for medical insurance may be reset.
- Household registration, home purchase, and points policies in some cities are affected.
- The accumulated years for pension insurance are interrupted, and you may have to make up the contributions depending on local policy.
- You can choose to participate as a flexible-employment contributor (for medical and pension insurance); the contribution rate is slightly higher than for employees.
- Where the conditions allow, you can also go through a sole proprietorship or a third-party social insurance payment channel, but you should confirm the compliance and the cost first.
Yes. Social insurance is “inclusive and highly leveraged” basic protection, and medical and pension insurance in particular offer excellent value for money.