House Democrats are getting ready to debut a health care bill that would create a new government-run plan for people without affordable insurance. Speaker of the House Nancy Pelosi plans to release the bill on Thursday if all goes well in a House meeting on Wednesday afternoon.
This version of the bill is the culmination of months of negotiations between liberal and moderate Democrats. It combines health care bills passed by three different committees during the summer.
This bill requires employers to offer insurance to their employees or face penalties. It would also fine those who don’t buy coverage and provide subsidies to help people with low incomes get coverage.
The bill also prohibits insurance companies from charging much more to older people or denying people with health conditions coverage.
In all, the reform would cost about $1 trillion dollars over a period of ten years. The money would come from taxing people with high incomes and cutting more than $500 billion in payments to Medicare providers.
