House Votes to Repeal Obamacare!

Late last week, The House voted to repeal the Affordable Care Act.  The new American Health Care Act barely passed in a 217-213 vote.

So what does this mean to you?

It repeals the key measures requiring all individuals to get health insurance and for most employers to provide medical insurance to employees.  The new plan may allow a market-based system that would let people make more health-coverage decisions for themselves.  It will also replace Obamacare subsidies with tax credits based primarily on age that phase out for people with incomes above $75,000.  Overall, insurance could be more affordable and premiums may be reduced.

However, some states could allow insurers to charge more for pre-existing conditions, if they had a gap in coverage, so long as there is assistance provided by states for those priced out of commercial rates, such as the high-risk pools.  States could also get waivers for essential coverage of pre-existing conditions, such as maternity care.  

We shall see everything that is included in the bill soon, and what changes or amendments are in store.