On June 22, 2017, Senate Republicans unveiled a draft version of their healthcare reform bill "H.R. 1628" designed to:
- Cuts Medicaid
- Ends penalties for people not buying insurance
- Reshapes subsidies to low-income users
The 142-page draft bill could go to a vote as early as this week. The new Plan Would:
- Prohibit states from opting out of key protections for patients with preexisting conditions, eliminates much of former President Obama’s signature health care legislation.
- Repeal tax increases the ACA imposed on higher-income people and medical industry companies to pay for expanded coverage.
- End the tax penalty the ACA statute imposes on people who don’t buy insurance – in effect, ending the so-called individual mandate.
- Includes $15 billion a year in market-stabilizing funds over the next two years and $10 billion a year in 2020 and 2021. These payments would come in addition to cost-sharing subsidy payments, which would be extended through 2019.
- Provide $62 billion allocated over eight years to a state innovation fund, which can be used for coverage for high-risk patients, reinsurance and other items.
- Phase out ACA Medicaid expansion over three years, starting in 2021.
The 142-page bill – will likely be subject to revisions. The full Senate will more than likely vote on the measure this week.