The Washington Monthly
This is the House version. The Senate will approve their own version and then a committee will smush the two of them together.
It's tough to summarize the entire policy, but the House bill does what reform has set out to do all year -- if you have insurance, you'll have better, more stable coverage with consumer protections. If you don't have insurance, you'll get subsidies to help you purchase coverage from an exchange.
The House [bill] is expensive, but it's fully paid for, and would lower the federal budget deficit over the next couple of decades. It includes a public option for eligible consumers, an individual mandate, and an employer mandate. It would cover about 96% of the population, and does not raise taxes on the middle class.
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For families who buy their insurance on the exchanges that both bills establish, for instance, the House bill includes more generous subsidies -- on average, $1,000 more, according to the Congressional Budget Office. The House bill also offers a lot more assistance to Medicare recipients by reducing the cost of their prescriptions. While the bill that emerged from the Senate Finance Committee renews the Bush administration's mega-bucks gift to the drug companies by continuing to prohibit Medicare from negotiating drug prices with them, the House bill authorizes those negotiations. The Senate bill reduces by half the payments that Medicare recipients must make for prescription drugs that fall into the "doughnut hole" (annual drug expenses are covered up to $2,700, and coverage kicks in again at $6,100, but for all purchases in between, Medicarians are on their own). The House bill would cover all prescription purchases by 2019.