This study examines whether health insurance enhances the subjective
well-being (SWB) of China’s rural-to-urban migrant workers. Despite their key
contributions to economic development, these workers remain marginalized in
the social security system. As a crucial component of social protection, health
insurance may improve healthcare access and financial security, thus boosting
well-being. Using data from the 2018 China Family Panel Studies (CFPS) and
applying an ordered logit model, this paper explores the effects of health insurance participation. The findings suggest that both coverage and participation
depth significantly improve migrant workers’ SWB. Moreover, the effects vary
across gender, education, and region. The study concludes with policy recommendations for government agencies, insurers, and migrant workers to enhance
insurance effectiveness and support the well-being of this vulnerable population.