A single-payer healthcare system in California — a galvanizing cause among the state's progressive flank — would cost $400 billion annually, according to a legislative analysis released on Monday.
The analysis, released in advance of the proposal's hearing in a key fiscal committee, fills in what has so far been the biggest unanswered question concerning the plan to dramatically overhaul California's healthcare coverage.
The analysis found that the proposal would require:
• A total cost of $400 billion per year to cover all healthcare and administrative costs.
• Of that, $200 billion of existing federal, state and local funds could be repurposed to go toward the single-payer system.
• The additional $200 billion would need to be raised from new taxes.