Don't HR Alone #24 - Senate ACA Replacement, and Q&A
Senate releases its version of health care replacement bill — PROPOSED LEGISLATION
The Senate has released an amended version of H.R. 1628 (the American Health Care Act of 2017). The “discussion draft” will, according to a statement on the website of the U.S. Senate Committee on the Budget, help stabilize collapsing insurance markets by creating a stabilization fund that would provide $15 billion per year in 2018 and 2019, and $10 billion per year in 2020 and 2021. It also provides for a short-term stabilization fund and cost-sharing reductions through 2019.
The amended version of the house bill is also touted as improving the affordability of health insurance in the following ways:
• through a Long-Term State Innovation Fund, which would dedicate $62 billion, over 8 years, to encourage states to assist high-cost and low-income individuals to purchase health insurance by making it more affordable;
• through tax credits targeted at defraying the cost of purchasing insurance. The tax credits would be advanceable and refundable, and they would be adjusted for income, age and geography;