Unlock stock picks and a broker-level newsfeed that powers Wall Street.
U.S. Senate healthcare bill expected to cut back Medicaid expansion

(Adds comments from Senator Murray, paragraph 9, Trump, paragraph 16)

By Susan Cornwell

WASHINGTON, June 21 (Reuters) - A healthcare bill being unveiled by U.S. Senate Republicans on Thursday is expected to roll back the Obamacare expansion of the Medicaid healthcare program for the poor and reshape subsidies to low-income people buying private insurance.

Those subsidies are expected to be linked to recipients' income, a "major improvement" from a healthcare overhaul bill passed in the House of Representatives that tied them solely to age, Republican Senator Susan Collins said on Wednesday.

The Washington Post reported that the bill would also repeal most of the taxes that pay for the Affordable Care Act, popularly known as Obamacare, give states wider latitude to opt out of its regulations and eliminate federal funding for Planned Parenthood, a healthcare provider that offers abortion services.

The healthcare bill will be released to the Republican Senate Conference on Thursday morning and posted online, senators said. A vote could come as soon as next week, several senators said.

Senate Republicans have been working behind closed doors for weeks on legislation aimed at repealing and replacing major portions of Obamacare, former Democratic President Barack Obama's signature healthcare law.

Obamacare extended insurance coverage to millions of Americans through both subsidized private insurance and an expansion of Medicaid.

"There is an urgency to get this done because of the continued collapse of the Obama healthcare law," Senator John Barrasso, a member of the Senate Republican leadership, told CNN. "People across the country are suffering pain and the pain is getting worse as insurance companies are pulling out."

Democrats accuse Republicans of sabotaging Obamacare, and say the Republican healthcare bill is aimed at cutting taxes for the wealthy.

Democratic Senator Patty Murray of Washington said in a statement that leaked details of the bill indicated it was "every bit as devastating for families’ bank accounts and healthcare coverage as the disastrous bill that passed in the House."

President Donald Trump and fellow Republicans campaigned last year on a pledge to replace and repeal Obamacare, which they described as ineffective and government intrusion in a key sector of the economy.

REPUBLICAN CONCERN

Some Republican senators voiced concern on Wednesday about the rush to consider the major legislation as their party's leaders prepare to unveil it.

Republican Senator Ron Johnson of Wisconsin said he wanted to read the bill and discuss it with constituents before he votes. "I'd find it hard to believe we'll have enough time," he said, adding that if he did not get enough information, "I won't be voting yes."

Waiting for permission
Allow microphone access to enable voice search

Try again.