China's endowment insurance and medical insurance financing model is

Social pooling is combined with individual accounts. The basic old-age insurance system combining social pooling with individual accounts is a new basic old-age insurance system initiated by China in the world. This system adopts the traditional basic endowment insurance fund raising mode, that is, it is shared by the state, units and individuals.

Social insurance fund raising mode

1, pay-as-you-go system. It calculates in advance the total expenditure of a country's endowment insurance in a certain period of time, and then determines the payment ratio of employers and workers and collects them accordingly;

2. A complete accumulation system. It is to deposit all the endowment insurance premiums paid by employers and employees in a certain proportion into employees' individual endowment insurance accounts and hand them over to an investment fund for management and investment, so as to maintain and increase the value;

3. Partial accumulation system. It is a combination of pay-as-you-go mode and complete accumulation mode.

From the above, we can see that the financing model adopted by China's endowment insurance and medical insurance is the combination of social pooling and personal accounts.

Legal basis:

Labor law of the people's Republic of China

Article 70

The state develops social insurance, establishes social insurance system and social insurance fund, so that workers can get help and compensation in old age, illness, work injury, unemployment and childbirth.

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

Article 10

Employees shall participate in the basic old-age insurance, and the employer and employees shall jointly pay the basic old-age insurance premium. Individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employer and other flexible employees can participate in the basic old-age insurance, and individuals pay the basic old-age insurance premium. The measures for the endowment insurance of civil servants and staff managed by reference to the Civil Service Law shall be formulated by the State Council.