This study aims to discuss the relationship between personal endowment and social welfare on the health status of the rural-to-urban elderly migrants. It constructed the theoretical framework of the health vulnerability of rural-to-urban elderly migrants. The health status of rural-to-urban elderly migrants was divided into three dimensions: physical health, mental health, and social adaptation. A total of 658 rural-to-urban elderly migrants in 12 cities of Jiangsu province were selected as samples for empirical test and analyzed the influence of individual endowments and social welfare on the health status of rural-to-urban elderly migrants and their differences. The result shows that personal ability affects the social adaptation ability of rural-to-urban elderly migrants, and social welfare has a significant influence on the physical and mental health of rural-to-urban elderly migrants. Lacking the learning ability of rural-to-urban elderly migrants in sample areas is the main factor that leads to their low social adaptation ability and the unequal social welfare and public services restricting the physiological and mental health status of rural-to-urban elderly migrants.