It's 'not a health care bill'

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Sens. Paul Ryan of Kentucky, Ted Cruz of Texas, Mike Lee of Utah and Ron Johnson of Wisconsin all said they would not support the current bill after its long-awaited reveal.

McConnell wants to push the package through the Senate next week, and will succeed if he can limit defections to two of the chamber's 52 Republicans.

Senate Majority Leader Mitch McConnell of Ky. walks on to the Senate floor on Capitol Hill in Washington, Thursday, June 22, 2017, following a meeting with Senate Republicans on a health reform bill. Despite celebrating its passage at the time, the president later privately branded "mean" a version approved last month in the Republican-led House of Representatives, according to congressional sources. He said he doubted Democrats would help. Trump made Obamacare repeal a centrepiece of his 2016 election campaign.

Speaking at Bellevue Hospital Center in Manhattan, the New York Democrat said the draft that his Republican colleagues released after weeks of secret deliberations is "devastating for America and even more devastating for New York".

Chantal Fields, executive director of West Virginians for Affordable Health Care, said in a news release that the bill was a disaster waiting to happen for the Mountain State, saying the group's analysis showed the bill would cut more than $400 million from the state's Medicaid program. Some from states that have expanded the program have battled to prolong the phase-out, while conservative Republicans have sought to halt the funds quickly.

Obama law: Private health insurance plans sold to people who receive federal subsidies can cover abortion.

"The current bill does not repeal Obamacare", Paul said. It allows parents keep their kids on their policies until they turn 26, and requires insurers to cover people with preexisting conditions.

"I urge Kansans to examine the Senate bill". Congress goes on recess on July 4.

"This bill isn't a solution, it's simply inadequate", Hulburt added.

"The Senate bill protects the very sick, seniors and young people".

"There's still an opportunity to make this bill better", he said. That's just not a national concern for us right now.

The Senate bill is also much like the House bill in that it would repeal most of the taxes associated with Obamacare (it would bump out the implementation of the so-called Cadillac tax on expensive, employer-sponsored health care plans, from 2025 to 2026).

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Democrats said the GOP measure would take coverage away from people and raise their out-of-pocket costs, all in the name of paring taxes on the wealthy.

The law is credited with expanding health insurance to millions of Americans.

Heller, meanwhile, was skeptical Friday that Senate leadership was going to be able to provide the concessions he would need to support the bill. There is uncertainty over whether abortion-related provisions will meet Senate rules, but those provisions could be included in another Senate bill.

The next step is a Congressional Budget Office score, which is expected early next week. While that gives a little more breathing room for expansion states to adjust, it still means large cuts from state Medicaid rolls eventually.

USA hospital stocks traded sharply higher after the bill was released, adding to gains from earlier in the session. HCA Healthcare Inc HCA.N rose 3.2 percent, while Tenet Healthcare Corp THC.N surged 6.8 percent.

The overall S&P 500 healthcare sector.SPXHC was up 1.3 percent and hit an all-time high.

The healthcare sector has surged this week, fuelled by biotechnology stocks.

Mizuho Securities' director of research, Sheryl Skolnick, said in a research note, "Hospital stocks are up on this news today". The Senate bill increases that to five to one.

Though senators promised to write their own repeal bill, their proposals largely mirror the House legislation.

Other Republican senators, such as Dean Heller of Nevada and Rob Portman of OH, expressed their own qualms, as did AARP, the American Hospital Association, the American Cancer Society Cancer Action Network and the Association of American Medical Colleges.

In one of its few doses of sanity, the House bill encouraged people to pay into insurance even when healthy by retaining a market-based version of the Obamacare individual mandate: Individuals who went without insurance for an extended period had to pay a higher premium.