The Senate has been trying to put together a plan to replace Obamacare by the end of month. In their last attempt to pass a new healthcare plan, the Senate has brought fourth the Graham-Cassidy bill.
Right now, the proposed-bill, the Graham-Cassidy bill is being brought to Congressional Budget Office to estimate its cost and coverage.
What is the Graham-Cassidy Bill?
The Graham-Cassidy Bill redesigns the Better Care Reconciliation Act into a new plan, but with one major change. Graham-Cassidy gives block grants to states, which states could then use to design the health care system of their choice: left, right, or center. While the The BCRA replaced Obamacare with a system of means-tested tax credits that individuals could use to shop for private coverage that fit their needs. The new bill was formulated by Sen. Bill Cassidy, Sen. Lindsay Graham, Sen. Dean Heller, and Sen. Ron Johnson.
Single-Payer Health Care Incorporated
The Graham-Cassidy plan would increase single-payer activity states like California, New York, and Vermont. Currently, Obamacare prohibits introducing government-run “public option” coverage into their individual insurance exchanges. Graham-Cassidy would lift that restraint and states could use their new block grant dollars to replace their private insurance exchanges with single-payer Medicaid-like programs.
Promises of the Graham-Cassidy Bill
Graham-Cassidy would repeal Obamacare’s individual and employer mandates. The new bill would increase annual contributions to health savings accounts and phase down state-based Medicaid provider taxes that states use to game the federal government into giving them more money than they’re supposed to get. It will allow states the ability to frequently cull their Medicaid rolls of ineligible recipients—something they can’t do today.
For now, we can only patiently wait until more news comes out in upcoming weeks from Congress. Feel rest-assured, no matter which healthcare plan is approved, Cosmo Insurance Agency will always be there to help you through the insurance process. Our customer service department is open to questions everyday from 9-5 with no obligation. Cosmo Insurance Agency’s health brokers in New Jersey will help you find the best healthcare plan suited for your circumstances.