On Tuesday, March 7th, U.S. House Republicans revealed a new health care plan which aims to replace former U.S. President Barack Obama’s Affordable Care Act, commonly known as Obamacare. Voting on the 123-page document will begin in the House committees on Wednesday, March 8th.
Former President Barack Obama’s Affordable Care Act provided health insurance to 20 million people who were not covered. One unfavorable aspect of this plan was the rise of insurance premiums. President Trump’s proposed plan will potentially reverse penalties for individuals who do not buy health insurance, and will “replace income-based subsidies to help with the cost of premiums with age-based tax credits.”
According to House Speaker Paul Ryan, the new bill will “drive down costs, encourage competition, and give every American access to quality, affordable health insurance.”
Critics of President Trump’s plan state that instead of lower prices, the cost of health care will increase.
Currently, Republicans hold a majority in the House and the Senate.
The new bill is expected to keep the Affordable Care Act’s provision that individuals with pre-existing conditions are protected. It also has a provision that will remove federal funding for Planned Parenthood.