De Blasio said the plan, which would be financed out of the city's public health budget, would ultimately be cost effective by reducing hospital emergency room visits by uninsured patients and by improving public health. (Photo: Shutterstock)

(Bloomberg) –New York Mayor Bill de Blasio proposed a $100 million plan that he said would provide affordable “healthcare for all,” reaching about 600,000 people, including undocumented immigrants, low-income residents not enrolled in Medicaid and young workers whose current plans are too expensive.

The plan, which de Blasio dubbed “NYC Care,” will offer public health insurance on a sliding price scale based on income, the mayor said during an interview Monday morning on MSNBC.

It will begin later this year in the Bronx and will be available to all New Yorkers in 2021, and would cost at least $100 million once it reaches full enrollment, according to the mayor's office.