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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.

 

The information and materials on this blog are provided for informational purposes only and are not intended to constitute legal or tax advice. Information provided in this blog may not reflect the most current legal developments and may vary by jurisdiction. The content on this blog is for general informational purposes only and does not apply to any particular facts or circumstances. The use of this blog does not in any way establish an attorney-client relationship, nor should any such relationship be implied, and the contents do not constitute legal or tax advice. If you require legal or tax advice, please consult with a licensed attorney or tax professional in your jurisdiction. The contributing authors expressly disclaim all liability to any persons or entities with respect to any action or inaction based on the contents of this blog.

 

Joanna Castillo– Joanna is the Client Compliance Manager for Sequoia, where she works with our clients and internal teams to make benefits compliance more fun! In her free time, Joanna enjoys live music, college football, travel, and walking her dog in Golden Gate Park.