Here are details of the Obamacare Replacement Act sent from Cameron Warner of Congressman Jim Jordan's office.
OBAMACARE REPLACEMENT ACT
SEN. RAND PAUL | REP. MARK SANFORD
The Conservative Solution
While there have been a number of promising replacement bills and plans set forth in both
chambers, the Obamacare Replacement Act best ensures that free markets are given an
opportunity to work because patient-centered, consumer-driven competition is the only way we
can lower costs and increase access to America’s healthcare system.
Main Components
Legalize Affordable Insurance Plans: The bill eliminates Obamacare’s essential health
benefits requirement and other restrictive coverage and plan requirements that force people to
purchase plans covering services they don’t want or need.
Expand Access to and Scope of Health Savings Accounts: The bill provides the most robust
pro-HSA reforms of any proposal. By expanding the number of HSA holders and increasing
the number of covered health care products, cost-conscious consumer behavior typically
exhibited by HSA holders will drive down costs across the market.
Equal Tax Relief for Individual Health Insurance Purchasers: The bill allows Americans
purchasing their own health insurance to deduct the cost from their taxable income just as with
employer-provided health insurance. This empowers people to purchase insurance independent
of employment.
Allow Individuals and Groups to Band Together to Purchase Insurance: The bill expands
Association Health Plans (AHPs) to allow small businesses and individuals to band together,
even across state lines, through membership in an association to provide health coverage for
their families and employees. By utilizing economies of scale and increased leverage, these
groups are empowered to negotiate for lower costs and protection of pre-existing conditions.
Remove Barriers to Purchasing Insurance Across State Lines: The bill facilitates creation
of an open and competitive interstate market for health insurance by allowing insurers licensed
to sell policies in one state to sell in any other state.
Increase State Medicaid Flexibility: The bill provides states waiver authority allowing them
to develop innovative Medicaid plan designs to lower costs and increase coverage.
No Tax Credits for Abortions: The bill prohibits the use of its HSA tax credits and
deductions for elective abortion services.
