A group of Republican senators introduced a bill Wednesday to repeal and replace the Affordable Care Act (ACA) as the timeline for getting such a bill passed this year continues to wind down.
The amount of money each state would receive is based on a complicated formula which starts with the amount of money each state receives from Medicaid expansion, ACA tax credits, CSR subsidies, and basic health plan funds. "By 2026, at base rate, every state will be receiving the same amount of money for each beneficiary in the 50-138% federal poverty level range," according to an FAQ on Cassidy's website. "This ensures that high-spending states and low-spending states come to parity at the end of the time frame."
The measure would also repeal the ACA's individual and employer mandates as well as its medical device tax, and would "strengthen the ability for states to waive Obamacare regulations," the release continued. It also would "protect patients with pre-existing medical conditions."