What's the difference between social security balance and medical insurance balance?

Legal analysis: Medical insurance generally refers to basic medical insurance, which is a social insurance system established to compensate workers for economic losses caused by disease risks.

Old-age insurance, the full name of social basic old-age insurance, is a social insurance system established by the state and society in accordance with certain laws and regulations to solve the basic life of workers who reach the working age limit stipulated by the state and terminate their labor obligations or quit their jobs because of old age.

Legal basis: Article 72 of the Social Insurance Law of People's Republic of China (PRC) establishes social insurance institutions in overall planning areas. According to the needs of the work, with the approval of the local social insurance administrative department and the organization management organ, the social insurance agency may set up branches and service outlets in this overall planning area. The personnel expenses of social insurance agencies and the basic operating expenses and management expenses incurred in handling social insurance shall be guaranteed by the finance at the same level in accordance with state regulations.