The United States Senate has unveiled its plan to repeal and replace ObamaCare on Thursday, by enacting a bill that would cut Medicaid, eliminate penalties for people who don’t buy insurance and cut tax hikes enacted to pay for the Affordable Healthcare Act’s expanded care.
Senate Majority Leader Mitch McConnell said the Senate had to act because Obamacare was on the verge of collapse.
“Because Obamacare isn’t working by nearly any measure, it is failed,” he said on the Senate floor.
“Policies contained in the discussion draft will repeal the mandate so Americans are no longer forced to buy insurance they don’t need or can’t afford.
According to the New York Post, the proposed bill would:
- It would phase out the extra money for Medicaid and put the entire program on a fixed budget, ending an unlimited entitlement — a provision that would mean drastic cuts in federal funding for high-Medicaid states like New York.
- Require insurers to let parents maintain coverage for their children until age 26.
- Retain Cost Sharing Reduction payments to insurers, which President Trump had threatened to cut, at least temporarily.
- Cut funding to Planned Parenthood in a manner similar to a bill passed by the House.
- Keep ObamaCare tax credits for patients to buy insurance, with targeting to seniors and low-income people, for two years.
The proposal was described as a discussion draft, and was expected to change as senators haggle over a final bill’s shape.
However, news that the new bill was developed behind closed doors, angered Democrats and some Republicans alike, with Democrats slamming the point of secrecy, saying the GOP did not allow enough time for proper debate over the specifics of the bill
“I don’t think it gives enough time to thoroughly analyze the bill but we’ll see when it comes out,” said Minority Leader Chuck Schumer.
Trump had campaigned on a promise to repeal ObamaCare, the 2010 law that extended insurance coverage to millions of Americans through both subsidized private insurance and an expansion of Medicaid.