House Republicans release ‘The American Health Care Act’

WASHINGTON D.C. (KUSI) — House Republicans unveiled their long-awaited Obamacare replacement bill Monday. It’s being called, "The American Health Care Act."

House Republicans said they’re delivering on their promise to repeal and replace Obamacare with President Trump’s proposed health care reform.

House Republicans also said they’ve been talking with constituents and colleagues about how to turn solutions into policies that will improve lives. They say the legislation is fiscally responsible to deliver relief from Obamacare’s taxes and mandates.

On their website, House leaders outline eight major components of the legislation. 

First, it would dismantle Obamacare taxes, including taxes on prescription drugs, over-the-counter medications, health insurance premiums and medical devices.

Second, it would eliminate the individual and employer mandate penalties.

Third, it would prohibit health insurers from denying coverage or charging more money to patients based on pre-existing conditions. Also, it would allow dependents to continue staying on their parents’ plan until they are 26, something Republicans say will help stabilize the marketplace.

The reform would also establish a patient and state stability fund, which they say provides states with $100 billion to design programs to help low-income Americans afford health care.

It would also change Medicaid by transition to a "per capita allotment."

It also expands health savings accounts, nearly doubling the among of money people can contribute and broadening how people can use it.

And finally, it provides a monthly tax credit, between $2,000 and $14,000 a year, for low- and middle-income individuals and families who don’t receive insurance through work or a government program. 

The legislation would allow state insurance exchanges to exist for now. Reports said the plan is to go to both the Energy and Commerce and Ways and Means Committees on Wednesday for "mark up" sessions where they will craft a final version of the bill.

The hope is that the bill would hit the House flood the week after that and the Senate before the Easter recess. 

Unclear is how many people might lose coverage under the new plan. That will launch perhaps the year’s defining battle in Congress. 

Congressman Darrell Issa (R-Calif.) released the following statement after House Republicans released their plan to repeal and replace Obamacare:

"Obamacare is collapsing under its own weight. Premiums have risen, deductibles have grown, choices have dwindled, millions have lost the coverage they knew and liked — and things are only getting worse. Insurers are fleeing the Obamacare marketplaces in droves, leaving many Americans with no choice when it comes to their health care plans. That’s not what was promised with health care reform.

Last week, I released my alternative to repeal and replace Obamacare. This week, House leadership is unveiling their plan. While we work to review and perfect the details, one thing is clear: together we’re getting to work on keeping our promise to put Americans and their physicians back in the driver’s seat of their health care. I look forward to sending a bill to the President’s desk that delivers Americans relief from Obamacare’s burdens, reduces the cost of healthcare, and makes insurance accessible to all."

Read the full legislation below