SB 562, otherwise known as the Healthy California Act, recently passed the California Senate on a 23 to 14 vote. It will now move to the California Assembly for further consideration.
The bill, currently in the form of a 38-page proposal, calls for a drastic restructuring of the California healthcare system from a multi-payer to a single-payer system. The pending bill would allow every Californian to enroll and would eliminate premiums, co-payments, and deductibles. The proposed system would allow for comprehensive coverage, would lower prescription drug costs, and would eliminate narrow insurance networks and the need for referrals.
There is much uncertainty surrounding the bill. The cost of maintaining this type of healthcare system has been estimated at $330-400 billion annually, though the bill does not specify how the estimated costs would be covered.
Click here to read the full text of SB 562. Stay tuned to our blog for updates, amendments, and future news about this pending bill.
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