Republican Alternative to Obamacare Gives Tax Credits for Low Wage Earners to Buy Health Insurance

Republicans, long criticized for pushing for the elimination of the health care reform law without a way to replace it, have come up with their own plan.

Rep. Tom Price, R-Ga., an orthopedic surgeon, has authored a 247-page bill, entitled the “Empowering Patients First Act” [that is] one-tenth the size of the Affordable Care Act [and] repeals the entirety of Obamacare.

It offers in its place refundable tax credits of up to $5,000 for low-income individuals and families to purchase health insurance on the private market. And those who buy health insurance privately rather than through their employment, would be able to deduct the among on their taxes, which they are currently unable to do.

Other provisions in the bill include allowing insurance companies to sell policies across state lines, which some believe will lower costs by increasing competitiveness. The legislation also aims to reform the medical malpractice industry, which has dramatically raised insurance costs for doctors, by creating health care tribunals to review malpractice cases and make recommendations about liability and compensation.

Read more from this story HERE.