It would cost $400 billion per year to remake California’s health insurance marketplace and create a publicly funded universal heath care system, according to a state financial analysis released Monday.
California would have to find an additional $200 billion per year, likely in new tax revenues, to create a so-called “single-payer” system, the analysis by the Senate Appropriations committee found. The estimate assumes the state would retain the existing $200 billion in local, state and federal funding it currently receives to offset the total $400 billion price tag.
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