Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sen. Bernie Sanders' health care plan is more ambitious than Canada's. ( AP Photo/Jose Luis Magana)

About a third of Senate Democrats — and most of the party's early presidential contenders — have signed on to Sen. Bernie Sanders' bill to establish a single-payer health care system.

Why it matters

“Single payer" is a catch-all term that means different things to different people. For most people, it just means cutting out private insurance companies, or at least minimizing their role. But the world's single-payer systems are not created equal, and the details — what's covered, how prices are set and how costs are spread across the system — make a huge difference.

Sanders referenced the Canadian system as he introduced his plan, suggesting that if the United States' upstairs neighbor can operate a government-run plan, so should we.

The facts
  • Sanders' plan is actually quite a bit more generous than Canada's — which means it would be more expensive, too.
  • In the U.S., several entities — Medicare, Medicaid and a slew of private insurers — pay for health care. In a pure single-payer system, by contrast, there's just one payer: the government. But in practice, single-payer systems aren't usually that pure.
  • The government accounts for about 70% of Canada's overall health care spending; private insurance and out-of-pocket spending make up the rest.
  • Canada's version of single-payer covers its citizens' hospital care, doctors' visits, mental-health care and diagnostic procedures. It does not cover dental, vision, prescription drugs or home health. Roughly two-thirds of Canadians have private insurance plans to cover those services.
  • Sanders' plan would cover everything, including vision, dental and prescription drugs. It also wouldn't include any cost-sharing from patients, like co-pays or deductibles. Canada doesn't require any cost-sharing for the services its government program covers, although many other single-payer systems do.
  • Because it covers more, Sanders' system would presumably be more expensive than Canada's. But that doesn't necessarily mean it would cost more, overall, than what we have now. Our per-capita health care spending today is more than double Canada's.
  • Still, the more generous a government-run plan is, the more tax revenue it needs to support itself. Taxes would need to go up dramatically to finance Sanders' proposal. And he hasn't said how he would pay for his plan.

Go deeper

60 mins ago - Health

Pfizer coronavirus vaccine safe, effective in children, company says

Photo by Mario Tama/Getty Images

Pfizer and BioNTech's coronavirus vaccine is safe and effective in children ages 5 to 11, albeit at a lower dose than adults receive, the companies said in a press release announcing results from a pediatric trial.

Why it matters: The trial results are a much-needed source of hope for families with elementary school-aged children, who currently aren't eligible for a vaccine.

The pandemic made our workweeks longer

Illustration: Annelise Capossela/Axios

The average American's workweek has gotten 10% longer during the pandemic, according to a new Microsoft study published in Nature Human Behaviour.

Why it matters: These longer hours are a key part of the pandemic-induced crisis of burnout at U.S. firms — and workers are quitting in droves.

Mike Allen, author of AM
2 hours ago - Economy & Business

Airbnb CEO Brian Chesky to herald "travel revolution"

Expand chart
Data: TSA. Chart: Jared Whalen/Axios

Airbnb CEO Brian Chesky will argue this week that the world is undergoing a "travel revolution," in which some parts of the industry stay shrunk but the sector ultimately comes back "bigger than ever."

Why it matters: Chesky, who faced the abyss when the world shut down last year, foresees a significant shift in how people move around, with more intentional gatherings of family, friends and colleagues — even if routine business travel is never what it once was.