House Democrats unveil healthcare plan

Reps. Charles Rangel (D-N.Y.), Henry Waxman (D-Calif.), John Dingell (D-Mich.), and George Miller (D-Calif.) on Friday released draft healthcare reform legislation that would establish a public health insurance option and also require employers to provide healthcare coverage to their workers or pay a fee. The public health plan would be included as one option in a government-run "Health Insurance Exchange," which would act as a marketplace for individuals and small employers choosing plans among private and public insurers. The public plan would be financed by its premiums.

Individuals would be required to have health insurance coverage, except in hardship cases. Those who choose to not obtain coverage would pay a penalty based on 2% of adjusted gross income above an unspecified level. Employers would be able to choose whether to provide health insurance coverage for their employees or contribute funds, with those employers choosing to contribute paying a fee based on 8% of their payroll. ...