Abstract: This paper uses the data of “China Survey of Consumer Finances” and quantile regression to analyze the impact of health risks on urban household consumption. The results show that the health risks have significant positive influence on medical and living expenses， and significant negative effects on traffic expenses. The increase of health risks and retired family members have significantly reduced household non-food consumption expenditures， and this impact increases with higher income. Health risk can significantly inhibit the consumption of middle-income families， but it will significantly increase the total consumption of high-income households. Therefore， the government should fully consider the heterogeneity of the impact of health risks on household consumption when formulating policies to stimulate household consumption， which is conducive to improving the scientificity and effectiveness of policy formulation.

Key words: health risk, quantile regression, household consumption, heterogeneity