Abstract:Chronic disease management faces the challenge that the traditional top-down medical insurance model struggles to meet the demands of whole-life-cycle health management. Based on the Value Co-creation Theory，this paper systematically sorts out the mechanism of the theory in the decision-making of chronic disease medical insurance policies，aiming to provide a theoretical reference for constructing a collaborative and efficient chronic disease security system. The research finds that China’s policy practice has demonstrated an evolutionary trend from “disease treatment” to “value co-creation”，yet limitations remain in balancing equity and efficiency，data integration，and other aspects. Medical insurance policies can serve as a collaborative platform linking multiple stakeholders，encouraging joint participation through institutional design to improve health outcomes and optimize service experiences. The main contributions of this study lie in clarifying the theoretical context and practical paths of value co-creation，and providing a systematic analytical framework and directional guidance for Chronic disease medical insurance policies to shift from passive payment to active collaborative governance.