Table 1.

The summary of main parameters

Parameters	Reference values	Settings
Participation rate of URRBMI	≥95% (2020 year)	100%
Household registration urbanization rate	45.4% (2020 year)	The average annual growth rate is 1%, reaching a peak of 75% in 2050
Per capita disposable income of rural residents	16,021 yuan (2019 year)	Between 2021 and 2025, the average annual growth rate will be 10%, followed by a decrease of 0.5% every five years
Bank interest rate	1.1% (2015 year)	Remain unchanged during the forecast period
Per capita financing standard	781 yuan (2019 year)	Set regarding the growth rate of rural residents’ per capita disposable income
Per capita medical expenses	1405.7 yuan (2019 year)	Decomposition calculation using “growth factor” method
Actual compensation ratio	56.86% (2019 year)	Remain unchanged during the forecast period

Note: Affected by the COVID-19, the data in 2020 will fluctuate greatly, so some of the values use the data in 2019. The data are all sourced from the official websites of the National Bureau of Statistics and the National Healthcare Security Administration in China, and some are further calculated by the author based on the official website data