Senator Max Baucus has released his health care plan one day ahead of President Obama’s speech to a joint session of Congress. His version of a $900 billion plan will include a series of cooperatives in place of a public option. It also features “exchanges” where people can purchase insurance policies, rather like the existing federal employees health plan. Kaiser Health News reports:
The so-called “framework” would establish health insurance exchanges in 2010, require health plans to report the amount of money they spend on items other than health care and require insurers to cover pre-existing medical conditions, according to documents obtained today by Kaiser Health News.
Baucus is proposing tax credits to help individuals who earn up to 300 percent of the federal poverty level, or $66,000 for a family of four, to purchase health care coverage. In addition, individuals who earn between 300 percent and 400 percent of the federal poverty level would be eligible for a premium credit as a flat percent of income.