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How the two bills compare
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House Democratic leaders presented a new health bill on Thursday that melds legislation passed by three committees and makes a series of changes to accommodate lawmakers' concerns. In the Senate, Majority Leader Harry Reid, D-Nev., is finalizing legislation merging the work of two committees and making other changes. Here are details on the two bills.
THE HOUSE BILL
Who's covered: About 96 percent of residents under age 65 -- compared with 81 percent now. A large portion of the remaining uninsured would be illegal immigrants.
Cost: $894 billion over 10 years, Democrats say, which is under President Obama's $900 billion goal. That mostly covers the costs of expanding insurance coverage and leaves out certain changes to Medicare and other programs that push the price tag above $1 trillion.
How it's paid for: $460 billion over the next decade from new income taxes on single people making more than $500,000 a year and couples making $1 million. There's also about $500 billion in cuts to Medicare and Medicaid, a new $20 billion fee on medical device makers, $13 billion from limiting contributions to flexible spending accounts, sizable penalties paid by individuals and employers who don't obtain coverage and a mix of other corporate taxes and fees.
Requirements for individuals: Individuals must have insurance, enforced through a tax penalty of 2.5 percent of income. People can apply for hardship waivers if coverage is unaffordable.
THE SENATE BILL
Who's covered: The Senate Finance version covers an estimated 94 percent of Americans. Illegal immigrants would not receive government benefits.
Cost: Leaders aim to keep it under $900 billion over 10 years.
How it's paid for: Fees on insurance companies, drug makers, medical device manufacturers. Tax levied on insurance companies, equal to 40 percent of total premiums paid on insurance plans costing more than $8,000 annually for individuals and $21,000 for families; retirees over age 55 and people in high-risk professions may be allowed to have somewhat more valuable plans before they're taxed. Cuts to Medicare and Medicaid. A fee on employers whose workers receive government subsidies to help them pay premiums. Fines on people who fail to purchase coverage.
Requirements for individuals: Almost everyone must get coverage through an employer, on their own or through a government plan. Exemptions for economic hardship.
ASSOCIATED PRESS
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