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The Goodman Institute Health Blog

China has Health Savings Accounts

Posted on February 27, 2023February 27, 2023 by John C. Goodman

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].

 

1 thought on “China has Health Savings Accounts”

  1. Joseph says:
    February 27, 2023 at 10:23 pm

    I am an American living in China. My Chinese wife has a health savings account. If more details are wanted I will try to provide them.

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