Obama on Senate bill: It's 'not a health care bill'

The bill was the product of lengthy negotiations between Republican senators, following the passage in early May of the American Health Care Act by the House, the Huffington Post reported. It does repeal the individual, employer mandate. That focuses financial assistance on people with lower incomes. Under Obamacare, tax credits are primarily based on income, age and geography, benefitting lower- and moderate-income people who purchase insurance on the exchanges. The group gathered to demonstrate their position that CT lives are "on the line" as Senate Republicans launched their plan in Washington for peeling back former President Barack Obama's health care law.

Should this bill pass and become the law of the land, Obama said that billionaires and corporations would be the biggest winners.

-Delay a new "Cadillac" tax on high-cost health insurance plans until 2026. It would allow states to opt out of essential health benefits and Obamacare's requirement that insurers charge sick and healthy people the same rates.

The Arizona Hospital and Healthcare Association issued a statement after Thursday's release of the Senate bill saying it has been calling on leaders in Washington for months to find a workable replacement. For instance, a 33-year-old person who makes $50,000 annually, or 332% of the poverty line, would pay up to 8.9% of their income on premiums, or $4,450 a year.

Republican leaders released details of their bill today, but Democrats are rejecting it outright, and some in the GOP are not happy either.

S.C. taxpayers also could be hurt if the state has to pay more of the costs for Medicaid, the joint federal-state insurance program for the poor and disabled. It would cut Medicaid overall and impose annual limits on spending.

SENATE: The draft legislation would phase out Obamacare's expansion of Medicaid over three years, from 2021 to 2024. "We'll have to see".

"Not only do we need to read it, but we need to negotiate over what's good, what's bad and what we can get in the bill to make it better".

Four conservative senators expressed opposition but openness to talks: Ted Cruz of Texas, Kentucky's Rand Paul, Mike Lee of Utah and Ron Johnson from Wisconsin.

Brewer shocked her fellow Republicans in 2013 when the key part of former President Barack Obama's health care law.

Lisa Desjardins begins our coverage.

Senate Majority Leader Mitch McConnell said lawmakers were ultimately anxious that Obamacare would collapse if they didn't implement the plan.

"The most important thing is we promised to repeal Obamacare", he added.

Both bills would repeal the penalties associated with the individual mandate that almost everyone purchase health insurance or else pay a fine, and the mandate that employers provide insurance to employees.

The House version of the legislation would leave 23 million more Americans uninsured in exchange for a $119 billion reduction in the deficit over ten years and almost $800 billion in tax cuts that would overwhelmingly benefit the rich.

AVIK ROY: The bill will encourage a lot more of those individuals to buy health insurance. The House bill had a continuous coverage rule, which let insurance companies raise prices on people who have lapses in their insurance coverage.