With the House last night passing its health care reconciliation bill, the measure moves to the Senate this week, where Democratic leaders are claiming they’ve got the 51 votes needed to pass it. We’ll take them at their word. But just in case, it’s worth noting what it would mean if the larger, Senate-passed reform bill (which the House also approved yesterday) becomes law by itself.
The biggies:
1) Insurance Subsidies: The Senate bill, while requiring most Americans to buy health insurance, also subsidizes plans for those living below 400 percent of the federal poverty level ($88,200 for a party of four). The subsidies would come on a sliding scale such that premiums would be capped at 2.8 percent of income for those living at 134 percent of poverty, and 9.8 percent of income for those living between 300 and 400 percent of poverty.
The reconciliation bill increases those subsidies for most income brackets. Those living between 300 and 400 percent of poverty, for example, would pay premiums capped at 9.5 percent of their income….
Full story: What if reconciliation fails? – The Washington Independent