Coal regulation has been implemented throughout China. However, the potential benefits of pollution abatement and the co-benefits of residents’ health were rarely assessed. In this study, based on the analysis of historical coal consumption and multiple coal regulation measures in Anhui Province, China, four scenarios (Business as Usual (BU), Structure Optimization (SO), Gross Consumption Control (GC), and Comprehensive Measures (CM)) were constructed to indicate four different paths from 2020 to 2060, which is a vital period for realizing carbon neutrality. The results show that reductions of SO2, PM10, and PM2.5 emissions in the SO scenario are higher than those in the GC scenario, while the reduction of NOx emission is higher in the GC scenario. Compared with the BU scenario, residents’ health benefits from 2020 to 2060 are 8.3, 4.8, and 4.5 billion USD in the CM, GC, and SO scenarios, respectively, indicating that the achievements of coal regulation are significant for health promotion. Therefore, the optimization and implementation of coal regulation in the future is not only essential for the carbon neutrality target, but also a significant method to yield environmental and health co-benefits.