Senate Republicans’ proposal
to replace Obamacare would provide an additional $50 billion over four
years to stabilize insurance exchanges, relying on a mechanism
Republicans have criticized in the past as a way to keep insurers in the
marketplace.
The
plan, released Thursday after months of closed-door meetings, includes
$15 billion a year in market-stabilizing funds over the next two years
and $10 billion a year in 2020 and 2021. These payments would come in
addition to cost-sharing subsidy payments, which would be extended
through 2019.
Senate
Majority Leader Mitch McConnell has said he wants the full Senate to
vote on the measure next week, but it’s not clear if the GOP will have
the votes to pass it.
It
also would provide $62 billion allocated over eight years to a state
innovation fund, which can be used for coverage for high-risk patients,
reinsurance and other items. The draft bill would phase out Obamacare’s
expansion of Medicaid over three years, starting in 2021.
The
142-page bill, H.R. 1628, will be subject to significant revisions
-- McConnell earlier in the week called it a "discussion draft" --
giving moderates and conservatives the potential to claim wins later as
it heads to the floor if they are able to secure changes.
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