Here are four points:
1. The plan has a $400 billion price tag and senators passed the bill without specifics for how the state would fund the system.
2. Last week, a Senate committee released an analysis that estimated the state would have to raise $200 billion in revenue each year to fund the bill. The analysis found the state could do this through a 15 percent payroll tax.
3. Following the vote, the bill will advance to the state Assembly. Mercury News reports the assembly will likely change the bill to include taxes for funding.
4. If it comes to fruition, the bill would give all 40 million California residents health insurance.
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