After a series of closed-door meetings, the first details on Senate Republicans’ plan to repeal and replace Obamacare are trickling out.
BREAKING: Senate Republicans unveil health care bill scuttling Obama law; plan cuts Medicaid, slashes taxes for wealthy
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In a breakdown released by the GOP, the plan includes $62-billion, over 8 years, to subsidize health insurance plans for people who are identified as “high-cost and low-income individuals,” does away with the mandate that all Americans buy insurance or pay a penalty, and requires coverage be provided for individuals with pre-existing conditions.
The plan also begins cuts to Medicaid in 2021, in what Republicans call “gradual reductions,” restoring levels of federal support to pre-Obamacare levels by 2024, while “providing fairness for non-expansion states.”
You can read the full text of the bill below.
DEVELOPING STORY. We will update as more details are released.