【】 We aim to measure the disease economic risk of Chinese families with the elderly suffered from chronic diseases, and to specify the differences of the effects of the three medical insurance systems on the economic risk based on the China Health and Retirement Longitudinal Study. We use logistic multivariate regression analysis and multiple linear regression analysis. The results show the incidence and intensity of catastrophic health expenditure are higher in Chinese elderly households with chronic diseases. The protection effect of NCMS(New Rural Cooperative Insurance)in reducing catastrophic health expenditure is significantly lower than that of medical insurance for urban employees and urban residents. We suggest that the government should also attach importance to the fairness of the medical security level while focusing on the coverage of insurance, and should pay attention to the elderly with chronic diseases especially the vulnerable groups in rural areas. The funding levels need to be improved in rural areas, and the reimbursement of Outpatient and Inpatient Medical Expenses for Patients with Chronic Diseases should be improved at the same time.