Research on the Compensation Effect of Critical Illness Insurance for Urban and Rural Residents in Huzhou City

Based on the statistical data of Huzhou Statistical Yearbook, Huzhou Statistical Bulletin of National Economic and Social Development, this study uses the grey correlation analysis method to measure the influencing factors of the compensation effect of critical illness insurance in Huzhou. The correlation between the compensation effect of critical illness insurance and various influencing factors in Huzhou City is ranked from high to low as annual GDP, the ratio of critical illness insurance expenditure to basic medical insurance expenditure, the number of beneficiaries of critical illness insurance, and per capita disposable income. The annual GDP of Huzhou City, the ratio of critical illness insurance expenditure to basic medical insurance expenditure, and the number of beneficiaries of critical illness insurance are the three key factors affecting the compensation effect of critical illness insurance in Huzhou City. The compensation effect of critical illness insurance can be improved mainly from these three aspects.