According to the official figures, the US gov't spends more money per capita on health insurance than countries that provide universal coverage. It is a sickening example of cronyism and thinly veiled bribery.
According to the official figures I've seen, the Federal government alone pays enough to not quite as much per person as the cheaper European states spend to cover 100% of their population. Add in the individual State funding and you could pay median European* healthcare costs on an individual basis without a single private dime.
As a (moderate) libertarian, I actually find this a good argument for national single-payer if it's implemented somewhat correctly. Because if done right it would actually REDUCE government spending, meaning by my 'yardstick' we actually have less government while people are better off. I, of course, have to point out that I think there are better options, but it's more a measure of just how big a cluster of screw-ups our healthcare system is.
*not to mention Australia, Canada, Japan, South Korea, etc...