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7 year oldRepublicans unveiled their long-awaited legislation to repeal and replace the Affordable Care Act, taking them a step closer to fulfilling a vow they’ve been repeating since the health law’s passage in 2010.
Called the American Health Care Act, House Republicans’ proposal released Monday would unwind much of Obamacare over the next three years. To help people afford insurance, they are proposing a refundable, age-based tax credit. The legislation would also end a requirement to have coverage, and would eventually eliminate many taxes used to fund the 2010 law.
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The proposal is the most comprehensive look yet at how the GOP will approach replacing the health law, also known as Obamacare, which brought coverage to an estimated 20 million people. Republicans blamed the law for rising insurance premiums and high patient out-of-pocket costs, and criticized its requirement that everyone have health insurance or pay a penalty.
A copy of the legislation, which is in two parts, is available here and here , and two House committees will start work on moving it forward on Wednesday. Key provisions include the following:
The nonpartisan Congressional Budget Office hasn’t yet evaluated the bill, so estimates of the impact on government spending and revenue and how many people will gain or lose insurance coverage are still forthcoming. Republicans plan to move ahead with the first steps of considering the bill in committee without such a budget score.
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For Republicans and President Donald Trump, gutting the ACA became a campaign rallying cry. Trump told Congress on Feb. 28 that he will “replace Obamacare with reforms that expand choice, increase access, lower costs, and at the same time provide better health care.’’
“The way to make health insurance available to everyone is to lower the cost of health insurance, and that is what we are going to do,’’ the president said .
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Updates with details of proposal in bullet points.
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Read Republicans Unveil Bill to Repeal and Replace Obamacare on bloombergpolitics.com
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