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That insurance work benefit would go away and your only choice (no choice at all really) would be the government "insurance" which would be mandatory. You would then have to pay the increased taxes to pay for it, and far more than Sanders has been letting on if we are not going to increase our national debt tremendously which would cause interest rates to spiral upward and ruin the economy.
Whether or not your employer would choose to pay you more to make up for you lost benefits and help you with your increased taxes would be be up to them. Good luck with that. 
Welcome to socialism!
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