The announcement comes after weeks of discussions behind closed doors.
WASHINGTON (AP) - Senate Republicans' new health bill cuts taxes by almost $1 trillion over the next decade, mostly for corporations and the richest families in America. Young healthy people may be drawn to these less restrictive policies while older, less healthy people will end up in a more expensive coverage pool.
"We agreed on the need to free Americans from Obamacare's mandates".
The draft bill proposes repealing a 3.8 percent net investment income tax on high earners retroactively to the start of 2017, not at some point in the future, as some analysts had speculated.
Over months of often bitter debate, Republicans have struggled to craft legislation that lowers costs and reduces government involvement, while minimizing the inevitable disruptions that would come with a revamp of a sector that accounts for one-sixth of the world's largest economy. States also have the option to receive a lump-sum block grant for some beneficiaries.
Senator Majority Leader Mitch McConnell says he thinks the bill will bridge the divide between moderates and conservatives in his party on key issues. Insurance subsidies would be reduced, allowing the taxes that finance them - mostly paid by the wealthiest Americans - to be cut or eliminated.
The Senate's most conservative members said the plan did not do enough to scale back the USA government's role.
President Donald Trump plans to do whatever it takes to earn Kentucky Sen.
GOP Senate leaders were eager for a seal of approval from Trump, who had urged them to produce a bill more "generous" than the House's. "Remember, ObamaCare is dead". "But I believe that's what people want to see".
Chantal Fields, executive director of West Virginians for Affordable Health Care, said in a news release that the bill was a disaster waiting to happen for the Mountain State, saying the group's analysis showed the bill would cut more than $400 million from the state's Medicaid program. However, Collins said during an interview on NBC's "MTP Daily" that it is not just Medicaid or Planned Parenthood that she is anxious about.
Sen. Ted Cruz is one of four Republican senators who aren't on board with that chamber's version of the American Health Care Act.
The House-passed bill would halt the extra funds for new beneficiaries in three years, a suggestion McConnell has offered. Governors also said the bill could hurt rural hospitals and senior citizens who have nursing home care covered by Medicaid.
Additionally, about 20 percent of Medicaid spending goes to provide nursing home care, including for middle-class seniors whose savings have been exhausted - a situation nearly any of us might confront.
The proposal would kick millions of people off their insurance, raise health care costs for Virginians, especially seniors, and leave states on the hook for hundreds of dollars for Medicaid, U.S. Sen. How will the new Republican plan affect coverage for substance abuse treatment and care? So the deep cuts to Medicaid funding are our primary concern. It overhauls Medicaid, and it gives the states more ways to opt out of what services insurance companies have to cover.