GOP proposal aims to end insurance mandate in ‘Obamacare’
Instead, it would create tax credits worth up to
The 105-page measure largely tracks talking points that House Speaker
Still, it provides some new details of Republican thinking and reaffirms others, such as blocking federal payments to
It also shows
Though just a preliminary document, the package drew quick criticism from
"This isn't a replacement, it's a recipe for disaster," said Senate Minority Leader
"The Republican bill raises families' costs, weakens coverage and pushes millions of Americans off of health coverage of any kind," said House Minority Leader
Congressional leaders say they want committees to write legislation reshaping the nation's health care system in March. That represents slippage from earlier suggestions by President
It is uncertain how their plans will be affected by this week's town halls during
According to the Republican draft, insurers could charge older customers five times more than what they charge younger ones, who are generally healthier and less costly to cover. That ratio is limited to 3-1 under Obama's statute.
The
Overall,
The tax penalty on people who don't purchase policies would be eliminated, as would federal subsidies for lower earners who buy insurance.
Instead, those who don't get coverage at work or under government programs would get annual tax credits based on age, growing from
Under Obama's overhaul, people with lower incomes currently get larger subsidies.
The
—Let insurers charge 30 percent higher premiums for people who have let their coverage lapse.
—Repeal taxes Obama's law imposed to pay for its coverage expansions including on health insurers and pharmaceutical companies, investment income of higher earners and on many medical devices.
—Tax partial value of health coverage that people get at work if their plan ranks among the costliest 10 percent in the nation.
—Scrap Obama's requirement that insurers cover 10 kinds of services like prescription drugs and maternity care, instead letting states decide.
—End the tax penalty on larger employers who don't offer health coverage to workers.
—Provide
Jesse Jackson Jr.’s workers’ compensation benefits ‘troubling’: ethics expert
‘Millions of Customers Could See Their Premiums Increase Unnecessarily’ – ABI DG Warns on Discount Rate Mistake
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News