As of the end of August, the number of insured people in the province had reached 29.69 million.

The coverage rate of this provincial insurance system, which was launched in 2020, currently stands and 53 percent.

Last year, five insurance companies in Hangzhou jointly launched a commercial supplementary medical insurance with no barriers and low costs. Over the past year, the insurance coverage has increased from 3 million yuan ($421,585) to 3.15 million yuan, and the premium for children or college students has decreased from 150 yuan to 100 yuan.

The insurance system has the characteristics of wide coverage and low cost. The basic premium is between 100 and 150 yuan per year. People can make payments through Alipay, WeChat and other channels.

In addition, the insurance system is at the forefront of the country in terms of the number of insured persons, the rate of insured persons and other aspects. In 2021, the per capita compensation of the insurance in Zhejiang was 6,153 yuan and is expected to reach 11,505 yuan this year. Over the past two years, a total of 4.15 billion yuan has been paid to 750,000 people.