Senator Mitch McConnell (R-KY) revealed the Senates version of the repeal and replacement bill of the Affordable Care Act, The Better Care Reconciliation Act of 2017.
On the Senate floor McConnell stated their plan would specifically do the following:
Repeal Individual Mandate
Repeal Employer Mandate
The text of the draft was to be made available soon, addressing the following:
Repeal of Tax on Health Saving’s Accounts
Repeal Tax on prescription medications
Repeal Medical Device Excise Tax
Repeal Chronic Care and Health Insurance Tax
Repeal Tanning Tax
Repeal Medicare Tax Increase
Redefine Federal Payments to the States
Redefining Medicaid Expansion
Reducing state Medicaid costs and allowing waivers to give states more options to allocate funds to where they have the greatest medical needs.
Establishment of a Prevention and Public Health Fund
Maintain protections for those with pre-existing conditions
Allow children up to the age of 26 to stay on their parent’s insurance plan.
Differences between the Senate and House bill
The Senate Bill will continue the Medicaid expansion until 2021 before phasing it down over three years, as opposed to the House version, which limited new enrollee funding in 2020.
Moreover those earning 400% above poverty level would not qualify for premium subsidies, being lowered to a 350% threshold.
The CBO is expected to release their analysis of the 142 page bill and score of the Senate revised bill by next week. The Senate would then be expected to debate the bill after that.
The full draft of the Senate Bill is included here: Senate Health Care Bill
This is a developing story.