Senate releases its version of the healthcare bill

The U.S. Senate released its proposed healthcare bill as an alternative to the Affordable Care Act, and it differs from the House version. The Kaiser Family Foundation has nicely summarized the differences between the Affordable Care Act and the two proposed replacements. Of note, the Senate's version of the bill removed the unpopular individual mandate, a tax designed to keep healthy people buying insurance. Vox reported that the Senate plans on announcing a six-month waiting period for individuals who wish to be insured, but have not had continuous insurance coverage.

Neither of the proposed replacements remove the requirement that insurers cover pre-existing conditions. Without a mechanism like the individual mandate or the waiting period, many individuals may wait until they are in need of insurance before paying for coverage.