On March 6, 2017, House Republicans presented their proposal for repealing and replacing the ACA, The New York Times reports.
Here are nine things to know:
1. The GOP plan extracts the individual mandate for Americans to purchase healthcare coverage and introduces a tax credit system to persuade Americans to purchase insurance on the free market.
2. NYT reports individuals will face a "significant penalty" for allowing their coverage to lapse, however. In this situation, payers could boost premiums by 30 percent.
3. The new bill will not support Medicaid expansion, which offered coverage to more than 10 million in 31 states.
4. The ACA's requirement of large employers to offer coverage for full-time employees is also no longer a component of the new health bill.
5. The Washington Post reports the new bill takes on Planned Parenthood, labeling the organization as "ineligible for Medicare reimbursements or federal family planning grants."
6. The new bill mirrors some aspects of the ACA, however:
• Payers may not deny coverage for pre-existing conditions
• Ban of lifetime coverage caps
• Young Americans may stay on parents' health plans until 26 years
7. If passed, this move will be a first; Congress has never overturned a major social benefits program extending to millions of Americans, The Washington Post reports.
8. Some Republican Senators are voicing concerns about the new bill, pledging to oppose the bill if millions of Americans lose coverage. Others are troubled by the cost of the overhaul, according to The Washington Post.
9. House GOP aides did not confirm when the Congressional Budget Office will release its formal analysis of the bill, The Washington Post reports.