House Budget Committee Chairman Rep. Tom Price, R-Ga., on Wednesday unveiled a plan to repeal President Obama's healthcare law and replace it with an alternative.
The move is the latest effort by Republicans to show that they have a vision for reforming the healthcare system beyond merely undoing Obamacare. With Republicans taking over the Senate, a looming Supreme Court decision, and the 2016 campaign heating up, there has been increased pressure on the GOP to offer alternatives.
Price, an orthopedic surgeon who in January took over the budget panel from Rep. Paul Ryan, R-Wis., has been one of the leading voices on healthcare policy among Republicans.
His plan, an updated version of his "Empowering Patients First Act" released in the previous Congress, relies on a combination of tax credits and regulatory reforms meant to broaden access to health insurance and bring down costs without Obamacare. Its release is likely to reignite a debate on the right over whether such an approach goes far enough toward ushering in a market-based healthcare system.
The Price plan would start by fully repealing the text of Obamacare.
To assist individuals with the purchase of insurance in the absence of Obamacare's subsidies, it would provide refundable tax credits. In a change from Price's previous proposal, which adjusted the value of the credits based on the income level of the recipient, the new Price plan would adjust the value of the credits based on age. The credits would range from $1,200 for those between 18 to 35 and $3,000 for those over 50 – with an additional $900 credit per child up to age 18.
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4 comments:
Truly worthless plan. Is that all you've got?? Face it the ACA works and people are happy with it. More than 20mm more citizens have health coverage. Nope Obamacare is here to stay.
A lot of those who now 'have health coverage' really don't, because the deductible/out-of-pocket is so high they can't afford to use it.
So what they really got was another bill to pay, not healthcare coverage.
7:30 And none of that would change under this proposal, they are going to offer you a tax credit for buying insurance.
Do you make enough that the tax credit will mean anything for you. It is for rich people.
Looking at the charts, the only policies I can afford monthly require me to pay the first $13,000 out of pocket before the insurance STARTS to kick in.
Over and above the cost of my monthly premiums.
That's every year, another $13k.
That is not in any way affordable.
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