Leaked New Obamacare Draft Reveals Early Initiatives

The current draft of the House GOP's Obamacare repeal/replace plan, obtained by Politico, contains the following. 

Good news for medical device makers, the medical device tax will be scrapped. Bad news for the poor: Medicaid spending would be rolled back significantly, and states would get capped payments based on the number of enrollees.

Rather than subsidize coverage based on income, the repeal plan would provide tax credits based on age. Insurers are allowed to charge the elderly 5 times more. Obama's individual mandate requiring anyone who doesn't have coverage to pay a penalty would be scrapped.

One Obamacare idea would stay: to help pay for the federal subsidies, tax breaks would be limited on generous "Cadillac" health plans some employers offer.

A lot of details are still being worked out. Price is still under orders to draft the Trump administration's repeal/replace plan by mid-March.

This article was written by a staff member of TheStreet.