What is the use of the money in the social security card

The money in the social security card is used when the insured person meets the legal conditions, the insured person reaches the legal retirement age when the accumulated contributions for fifteen years, he can receive the basic pension monthly; or if the insured person is sick and hospitalized, he can use the social security card to go to the medical institution or pharmacy to settle the bill directly.

Article 16 of the Social Insurance Law of the People's Republic of China (PRC) stipulates that an individual who has participated in the basic pension insurance program and has contributed for a total of fifteen years by the time he or she reaches the legal retirement age shall be entitled to receive a basic pension on a monthly basis. Article 28 of the Social Insurance Law of the People's Republic of China*** and of the People's Republic of China stipulates that medical expenses that conform to the basic medical insurance drug list, diagnostic and therapeutic items, standards of medical service facilities, as well as those for emergencies and resuscitations, shall be paid out of the basic medical insurance fund in accordance with State regulations. Article 29 of the Social Insurance Law of the People's Republic of China (PRC) states that the portion of the medical expenses of insured persons that should be paid by the basic medical insurance fund shall be settled directly between the social insurance administration organization and the medical institutions and drug business units. The social insurance administrative department and the health administrative department shall establish a settlement system for medical expenses for medical treatment in other places, so as to facilitate the enjoyment of basic medical insurance treatment by insured persons.