How Abdul El-Sayed would build Medicare for All, from a wealth tax to a Fed-style governing board | Fortune

Abdul El-Sayed, the progressive candidate for Michigan governor, has outlined a plan to build a Medicare for All system in his state, funded through a wealth tax and administered by a Federal Reserve-style independent governing board. The proposal would consolidate existing public and private insurance payments into a single state fund, with the board setting provider rates and benefit levels free from direct legislative control. El-Sayed argues the structure would insulate the program from political pressure while giving it the technical independence of a central bank. The plan matters because Michigan could become the first state to enact a single-payer system, offering a test case for national Democrats. What to watch next is how the wealth tax is structured and whether business groups and insurers mount a legal or ballot challenge.