Previously, Obamacare required all Americans to buy health insurance or face a tax penalty. Under the new deal, individual mandatory health care is repealed, but individuals who discontinue health care for more than 63 days will see a 30 percent increase in the cost of new coverage.
Also repealed is the employee mandatory health insurance limit. Previously, companies employing more than 50 people were fined for failing to offer health insurance.
Medicare Taxes - Repeal
Under Obamacare, Medicare taxes increased dramatically, while medical devices, health insurance, pharmaceutical companies, and high-end health insurance all received additional taxes. But the new health care policy eliminates the vast majority of the tax increases, while extending the tax on high-end health insurance through 2026.
Essential Health Care Benefits - Modifications
Previously, all health care programs were required to include specifically mandated services, including emergency room costs, cancer treatments, annual physicals, prescription drug costs and more. Trump instead plans to let states decide on their own health care details.
Medicaid program - revisions
Obamacare expanded Medicaid benefits so that more low-income people could get coverage. But the new case plans to cut federal funding for Medicaid expansion through 2020, allowing states to get funding in the form of block grants.
Pre-existing medical conditions - modifications
Omapa's health care reform prohibits insurers from denying or changing coverage packages for enrollees with pre-existing medical conditions. The new health care reform, on the other hand, puts the power in the hands of the states to decide whether to waive the pre-existing medical condition requirement under high-risk insurance programs.
Benefit Assistance - Modifications
Under the new deal, the amount of reimbursable tax credits will be determined by the age of the individual (e.g., $2,000 for a young 20-something, $4,000 for a 60-something).
There will also be income limits, with individuals earning more than $75,000 a year, and families earning more than $150,000, finding their credits phased out.
Subordinate Health Care - Retained
One of the most important aspects of Obamacare has been retained: under 26 years of age are still entitled to their parents' health care.
If the latest health care bill is passed, the Congressional Budget Office (CBO) projects that 14 million Americans will lose their health care coverage in 2018 alone.
Democrats have expressed considerable dissatisfaction with the passage of this new health care reform. A CNN reporter recalled many Democrats humming "nah nah nah, hey hey hey, goodbye" as the vote drew to a close. Many Democratic supporters protested outside the venue yelling "Shame! Shame!"
Minority Leader Democrat Nancy Pelosi said she was very saddened by the final results. She hailed Obamacare as the greatest "transfer of wealths" in the nation's history. （The desire to give tax breaks to the rich outweighs everything else (by supporters of the new bill).
She said people had been duped by a trick that would not become law and that they would eventually see what the **** and the party were calling for.
On the flip side, the **** and the partisans were jubilant. House Majority Leader Kevin McCarthy said the new bill would give Americans more choices, saving them from the death spiral of high-priced oligo-elections under Obamacare.
Of course it was Trump who was happiest. He clapped and cheered with members of his team as soon as the dust settled on the vote. In public remarks afterward, Trump said that Obamacare would be "dead" for good, that there was no mistaking repealing and replacing it, and that he was confident the bill would pass the Senate by then. He also thanked Paul Ryan, praising him for his amazing efforts to get the bill passed. Of course the final implementation of this new bill is still up in the air, and it is expected to move to the U.S. Senate for further voting in June of this year. Whether or not Obamacare is history and whether or not there will be a new face of health care in the United States will not be finally answered until then.