House Republicans released draft legislation Monday to replace former president Barack Obama’s signature health care law, proposing to phase out the Affordable Care Act’s Medicaid expansion and change the law’s subsidies for private insurance.
“It is Obamacare gone,” House Ways and Means Chairman Kevin Brady, R-Texas, told Fox News. “There’s nothing left there.”
The bill’s details released Monday do not say how many people would have coverage compared with Obamacare. But federal support would be reduced to allow Republicans to repeal the law’s tax increases on the wealthy, insurance companies, drugmakers and others.
The bill would also repeal the requirements that most people buy insurance and larger employers provide it.
It would still allow adult children to stay on their parents’ plans until age 26. And the bill would not repeal the popular provision barring insurance companies from denying coverage to people with pre-existing health problems. Instead, to keep people from buying coverage only when they need it, insurers could raise premiums 30% for those jumping back into the market.
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