House Republicans have released their bill to replace Obamacare. Highlights include:
- Tax credit ranging from $2,000-$4,000 per based on a person’s age.
- Phases out Medicaid expansion after year 2020.
- Removes the individual and employer mandates to purchase coverage.
- Preserves the protections for people with pre-existing conditions, but allows insurers to charge people 30% higher premiums if they allow themselves to have a gap in coverage.
- Maximum contribution into HSA increased to amount of deductible-and-out-of pocket limit.
- Allows both spouses to make catch-up contributions to the same health savings account.
- Repeals certain consumer taxes.
- Repeals medical device excise tax. Read the details here & here.
Watch Rand Paul’s assessment the of the bill: