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At its core, the bill is designed to expand health insurance coverage to millions of people who lack it, employing a new system of federal subsidies for lower-income individuals and families and establishing an insurance exchange in which coverage would have federally guaranteed benefits. Insurance companies would be prohibited from refusing to sell insurance based on an individual's health history, and limits would be imposed on higher premiums based on age. At the same time, Baucus -- in keeping with Obama's wishes -- drafted legislation that would reduce the skyrocketing rate of medical spending overall. The bill's price tag is less than $900 billion over a decade. Legislation already has cleared three committees in the House, and the leadership is slowly piecing together changes that could lead to a vote next month. Senate Majority Leader Harry Reid, D-Nev., has said he intends to bring legislation to the Senate floor as soon as possible. Whatever measure emerges from the Finance Committee must be blended with a bill that cleared the Senate Health, Education, Labor and Pensions Committee several weeks ago.
[Associated
Press;
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