With the rapid development of internet technology, the new methodologies and techniques based on data analysis are increasing popular for decision-making on many aspects of society and economy, including insurance system. The research focus on the current challenges faced by the senior insurance system of China, such as the acceleration of population aging, the rising prevalence rate of chronic diseases among aging population, and the increasing burden of the senior insurance system. This paper, based on the analysis of CLHLS data from Beijing University and other data sources, mainly investigated the relationship between the social insurance and the health level of the senior population through a multiple linear regression model from a Grossman health function. The preliminary conclusions can be drawn from the study as follows. Through the comparison of the regression coefficients, it is clear that the three kinds of basic medical care have different effects on the health level of senior population. The interpretation function of medical insurance on senior health level is lower than those of other social decisions and social support factors, while the influence of pension insurance is minor. Furthermore, the paper studied the coupling mechanism among pension, medical and nursing insurances, and put forward the suggestions of merging pension, medical and nursing insurances to one single plan to improve the efficiency performance of the current social security service system.