Advantages of Buying Social Insurance in China

According to the Chinese related law regulations, employers should buy Social Insurance for the employees. Nowadays, more and more foreign friends work and live in China. But have you buy Chinese Social Insurance yet? 

Do you know the advantages of buying social insurance in China?

1. What Is Social Insurance?

According to Ministry of Human Resources and Social Security, foreigners who work legally in China should buy social insurance, which includes endowment insurance, health insurance, employment injury insurance, unemployment insurance, and maternity insurance. And both the employee and the employer should pay the fee.

2. What Benefits Can I Get From Social Insurance?

01

Your medical expense will be largely reduced!

Foreigners who have bought social insurance in China can enjoy the same benefits as Chinese citizens. For example, if you have bought health insurance, you will receive a heath insurance deposit book and a social insurance card（or called “She Bao Ka [社保卡]” in Chinese) as those held by Chinese citizens. 

When you get ill, you can just go to a specified hospital and pay your medical expense with your social insurance card, then a certain amount of expense will be directly cut from your bill ( this part is paid with health insurance fund), and you only need to pay the rest part.

Namely, your medical expense will be largely reduced!

02

If you get injured when working in China, you can get compensation.

In recent years, there have been more and more foreigners coming to work, live or travel in China. As they are trying to fit in with everything here in this foreign country, they may encounter some accidents. But if you have bought social insurance, any injury that occurs during work is entitled to compensation. So you don’t have to worry about huge treatment costs.

03

Once you have paid for social insurance for certain years, 

you can enjoy your old age with pension!

According to Ministry of Human Resources and Social Security, foreigners who have paid for social insurance for at least 15 years can receive pension after they retire --- the same benefit as enjoyed by Chinese citizens!

3. How to buy social insurance?

(1) The employer applies online on the website of Social Security Bureau.

http://www.hrssgz.gov.cn/

(2) Submit the application form and other required documents to the specified reception.

Anyway, if you work in China, buying social insurance can bring you much more benefits.

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