Politics

Republicans Unveil Highly Anticipated Plan to Replace Obamacare, Check Out The Highlights HERE

On Monday night Republicans revealed their highly anticipated plan to replace Obamacare.

The House Energy and Commerce Committee posted the entire bill online for Americans to review.

CNBC has some of the highlights from the GOP proposal:

The bill calls for issuing a refundable, advanceable tax credit to customers of individual health plans with the value of that credit tied to age and income. Tax credits would begin at $2,000 for people in their 20s, and gradually increase to $4,000 for people over age 60.

The bill also would repeal the authority of states to expand their Medicaid programs to nearly all adults by 2020.

The GOP proposal also would repeal the Affordable Care Act’s taxes beginning in 2018, and would bar funding from going to Planned Parenthood. It also would double the current allowable contribution levels for Health Savings Accounts.

The Republican replacement does not get rid of the popular Obamacare provision that prohibits insurers from denying coverage to people with pre-existing conditions or the one that allows adults under the age of 26 to be covered by their parents’ plans.

But many of the key provisions of former President Barack Obama’s signature legislation would be undone.

House Ways and Means Committee Chairman Kevin Brady (R-TX) told Fox News that they will “begin by repealing the awful taxes, the mandate penalties, and the subsidies in Obamacare.”

Brady also pushed back against some conservative critics who have dubbed the Republican effort as “Obamacare Lite.”

“It’s Obamacare gone,” he added.

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