House Republicans release plan to replace Obamacare

House Republicans release plan to replace Obamacare

Even without those scores, the Ways and Means and Energy and Commerce committees plan to begin legislative action on Wednesday. It said, President Donald Trump looked forward to working with Congress to repeal and replace the law.

According to a press release, the legislation will create a state fund to help low-income Americans afford health care and "unwind" the Obama administration's Medicaid expansion.

These goals aren't compatible with each other.

The Republican plan to replace Obamacare includes a tax break for insurance company executives making over $500,000 per year.

Those are the big changes, but there are plenty more. The proposal retreats from earlier drafts in basing the tax credits on individuals' income and age, with the refundable credits phasing out for people who earn $75,000 annually. In addition, some of the most conservative Republicans have warned that the replacement tax credits the bill provided to help people buy insurance would be just another entitlement program. Several employers lost money due to it and millions of Americans did as well.

Ending the individual mandate. Trump has said his goal is "insurance for everybody", and numerous GOP governors and members of Congress have demanded that people not lose coverage.

The Republican legislation would limit future federal funding for Medicaid, which covers low-income people, about 1 in 5 Americans. "Health care is expensive and it becomes more expensive every year", he said.

"It's Obamacare gone", he added.

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The four senators all hail from states that have accepted Medicaid expansion, and they made that necessary prerequisite for any plan they'd be willing to consider. That would be a high hurdle for states.

Keeping to the Affordable Care Act, the Republican plan will keep children on their parents' insurance until they turn 26.

One in five Coloradans are covered through Health First Colorado, the state's Medicaid program. And people with pre-existing health conditions would continue to be protected.

Democrats have warned that Republicans risk throwing the entire USA healthcare system into chaos by repealing the Obamacare law that was passed by congressional Democrats over united Republican opposition.

There is no argument that the Affordable Care Act has flaws.

Even as as House Republicans prepared to take this momentous step, there were new signs of just how hard passing legislation would be.

But shortly after the text became public, Rep. Justin Amash (R-Mich.) denounced it as "Obamacare 2.0". Instead, they would be given a set amount based on the number of enrollees. The tax credits that have been mentioned so far would be inadequate, Kasich says.