READ: House GOP Unveils Obamacare Replacement, the American Health Care Act

Speaker of the House Paul Ryan (R-WI) (Getty)

The much-anticipated replacement plan of Obamacare — dubbed the American Health Care Act — was introduced by House Republicans on March 6 in draft form.

The new legislation would replace former President Barack Obama’s Affordable Care Act, which was passed by the Senate on December 24, 2009 and signed into law by Obama on March 23, 2010. The new proposal would eliminate the mandate that all Americans have health insurance, phase out the Medicaid expansion that Obamacare initiated and also change the health care law’s subsidies for private insurance.

Instead of the Obamacare subsidies, the American Health Care Act promises to provide between $2,000-$14,000 in tax credits to Americans that don’t receive health insurance through work or a government program based on their age and family size.

On the House GOP’s website, an introduction to the bill is given, saying “more than eight months ago, we outlined our vision for repealing and replacing Obamacare in A Better Way. Since then, we have been talking with our constituents and colleagues about how to turn these solutions into policies that will improve lives.”

Further details about how many people would be covered compared to Obamacare weren’t immediately released. No details about how the American Health Care Act would be funded and how much it would cost taxpayers was included. Though the House GOP on its website says that “we are still discussing details” about funding and the burden on taxpayers. But it promised that the group is “committed to repealing Obamacare and replacing it with fiscally responsible policies that restore the free market and protect taxpayers.”

Read the entire 123-page document below:

American Healthcare Act by Chris on Scribd

House Speaker Paul Ryan released a statement following the unveiling of the plan to replace Obamacare. He said in the statement, “The American Health Care Act is a plan to drive down costs, encourage competition and give every American access to quality, affordable health insurance.”

Sen. Chuck Schumer (D-NY) said that instead of lowering the burden on taxpayers, the American Health Care Act would instead force them to pay more so that insurance companies can profit more.

Next, committees will move the legislation through regular order with markups occurring March 8 to allow for amendments to be offered, and so that all aspects of the bill to be understood. Once a final product can be decided and voted on, the American Health Care Act in its revised form would move to the Budget Committee to be assembled and then the sent to the floor for a House vote.

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