There is a very low chance you’d only pay $3.5k/year. The best estimates are essentially doubling the Social Security part of your taxes to cover the increase.
Kenneth Thorpe, a leading health economist at Emory University and a former assistant secretary in Clinton’s Health and Human Services department. In a study Biden cited at [a DNC primary] debate, Thorpe calculated that, under single payer, 71 percent of households with private insurance today—almost 70 million households in all—“would pay more in new taxes than they would save through the elimination of premiums and cost sharing.”
Which sounds fairly reasonable considering we’re asking to cover an additional 8.5% of Americans who currently have no insurance at all. I’m not saying that’s bad, but talking about it as if it’s a slam dunk “everyone saves money!” is a bit premature considering the best plans laid out only got us 50% of the way there.