What does social insurance mean?

Social insurance is referred to as social security for short, including endowment insurance, unemployment insurance, work injury insurance, maternity insurance and medical insurance.

Endowment insurance, medical insurance and unemployment insurance are premiums paid by enterprises and individuals, while industrial injury insurance and maternity insurance are entirely borne by enterprises.

Details are as follows:

1. Employees who participate in endowment insurance stop paying endowment insurance premiums due to changes in labor relations and other reasons. This phenomenon is called the interruption of insurance relationship and the termination of insurance. The impact of insurance failure on employees is that retirement benefits are reduced because of the reduction of payment years and payment amount;

2. Individuals who participate in the basic old-age insurance will receive the basic pension on a monthly basis if they have paid for fifteen years at the statutory retirement age.

legal ground

People's Republic of China (PRC) social insurance law

Article 57 An employing unit shall, within 30 days from the date of its establishment, apply to the local social insurance agency for social insurance registration with its business license, registration certificate or unit seal. The social insurance agency shall, within fifteen days from the date of receiving the application, examine and issue the social insurance registration certificate.

Where the social insurance registration items of the employing unit are changed or the employing unit is terminated according to law, it shall, within 30 days from the date of change or termination, go to the social insurance agency to handle the change or cancellation of social insurance registration.

The market supervision and management department, the civil affairs department and the organization management organ shall promptly inform the social insurance agency of the establishment and termination of the employing unit, and the public security organ shall promptly inform the social insurance agency of the birth, death, household registration, migration and cancellation of the individual. Thirtieth the following medical expenses are not included in the basic medical insurance fund payment scope:

(a) shall be paid by the industrial injury insurance fund;

(2) It shall be borne by a third party;

(three) shall be borne by public health;

(4) Go abroad for medical treatment.

Medical expenses that should be borne by a third party according to law. If the third party is unable to pay or cannot determine the third party, the basic medical insurance fund will pay in advance. After the basic medical insurance fund pays in advance, it has the right to recover from the third party.