I think it would be very liberating for the employer and the health consumers. For the employers because they wouldn't have to worry about providing health insurance for their employees and could spend more time focused on their business. For the health consumer because he would no longer have to worry about medical bankruptcy.
And thats what you say you hope for?
What is "liberating" about having the government confiscate an ever-increasing portion of the fruits of your labor to redistribute to people who stay home and sit on their butts all day? This is a lot closer to the definition of slavery than liberty. The modern working man is already a tax slave.
You won't have to worry about medical bankruptcy, because there won't be any quality health care services around for you to pay for. You'll have the right to stand in line alongside the local welfare bum for poor quality care. At least until you're old enough where care will be denied in favor of euthanasia, or if you prefer a slow death of natural causes.
And it's not very liberating for the employee, because he can't reduce his costs by living as healthily as he can and opting for cheaper coverage to prevent catastrophic losses, such as a Major Medical plan or a Health Share plan, or no coverage it all. (The latter has heretofore been common for Americans who are in low-risk groups, e.g. young unmarried employed men ages 20 - 30, who choose to take that $nK a year and put it into something they want more, i.e. a business start-up.)(We call this "choice".)
It also results in a sharp reduction in the number of providers, since doctors will get out of a system which micro-manages their professional and ethical judgments and triples their paperwork. Most potential medical students won't bust their butts to go through all those years of schooling, internship, residency, etc. just to be put in the shackles of a system "with all the efficiency of the U.S. Postal Service and all the compassion of the IRS".
Thus you'll get a lot of foreign doctors (like in Britain), a lot of less-competent doctors, and a lot of medical tasks being shifted into the hands of nurse-practitioners, physicians' assistants, and other non-MD's, with the consequent loss of professional training and expertise.
And at last --- the ultimate cost-effectiveness measure --- you get the Adios treatment: the Liverpool Care Path, a.k.a. mandatory terminal sedation.
Single payer leads to an end to medical progress. The effective, expensive new medicine can’t be used because it is not on the formulary. The approved drugs and procedures will be the old ineffective ones.
The model for the single payer system is the old Soviet agricultural system.