Will the money in social security medical insurance be cleared at the end of the year?

Social insurance and medical insurance (social security and medical insurance) are systems set up to protect the basic needs of insured people in terms of old age, unemployment, medical care, work injuries and maternity. In China, money in social security and medical insurance accounts is usually not cleared at the end of the year.

Pension benefits are calculated cumulatively, with the amount in an individual's account accumulating until he or she receives a monthly payment at retirement.

Medical insurance premiums, on the other hand, are divided into individual accounts and co-ordinated accounts, and the money in individual accounts can be accumulated and will not be zeroed out at the end of the year. If it is not used up within a year, the balance is automatically carried forward to the next year. The funds in the integrated account are used to pay for medical expenses within the integrated scope, which do not belong to the individual, so there is no such thing as a zero balance.

Unemployment, work-related injuries and maternity insurance are similar in that they have their own rules for management and use, and will not be zeroed out at the end of the year.

Specific social security and health insurance policies may vary from region to region, and you should consult your local social insurance administration for details.

I hope the above can help you, if you have other questions please consult a professional lawyer.

Legal basis:

Article 2 of the Social Insurance Law of the People's Republic of China

The state establishes a social insurance system of basic old-age insurance, basic medical insurance, industrial injury insurance, unemployment insurance, maternity insurance, and so on, to protect the citizens' rights to obtain material help from the state and society in old age, illness, industrial injury, unemployment, and maternity, according to the law.