And they have had them for a decade. As the New York Times explains:
Companies typically contribute to the pools an amount equal to as much as 9.8 percent of a worker’s salary…. The employee insurance pools currently forward about a third of the money they receive from employers to personal health accounts, and spend the remaining two-thirds on hospitalizations and other expenses. Employees also put about 2 percent of their paychecks into their health accounts until they retire.
While the pooled employee funds in many cities are depleted, personal health accounts across China have accumulated more than $130 billion.
Under new rules being adopted:
Beneficiaries will be allowed to direct money [in their personal health accounts] to their parents, spouses and children, including family members who live in rural areas [and don’t have personal health accounts].