Republicans race to pass competing health care bill as clock ticks on Obamacare subsidies

With the deadline to extend Obamacare subsidies fast approaching, Republican lawmakers are leading the charge.

Former President Barack Obama's Affordable Care Act has been the focal point of health care discussions on Capitol Hill as ACA subsidies are expected to expire at the end of the year. These are the same subsidies Senate Democrats cited as the basis of their record-breaking shutdown.

The Republicans' legislation blocks funds for 'gender transition procedures' and abortions.

In response, several Republicans introduced their own legislation, including the Health Care Freedom for Patients Act penned by Sens. Bill Cassidy of Louisiana and Mike Crapo of Idaho.

With just weeks until these subsidies lapse, Senate Majority Leader John Thune (S.D.) will hold a vote on that key legislation on Thursday.

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The Crapo-Cassidy bill would allow the Obama-era subsidies to lapse, instead boosting funds for health savings accounts. Eligible adults under the age of 50 would receive $1,000 deposited into their HSA while those between the ages 50 and 64 would get $1,500.

It would also fund cost-sharing reduction payments and provide eligible Americans the option to purchase "bronze" or "catastrophic" health care plans. Notably the Republicans' legislation blocks funds for "gender transition procedures" and abortions.

Although Republicans are expected to vote for the legislation, it is unlikely to pass due to the 60-vote filibuster threshold. Assuming all 53 Republicans vote in favor of the bill, at least seven Democrats would have to cross the aisle for the legislation to pass the Senate.

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Other Republicans, like Sen. Rick Scott of Florida, are also introducing alternative health care bills. Scott introduced his More Affordable Care Act alongside Republican Study Committee Chairman August Pfluger (Texas), who spearheaded the companion bill in the House.

Scott and Pfluger's bill would create Trump Health Freedom Accounts, redirecting federal subsidies traditionally sent to insurance companies to these HSA-style accounts held by individual Americans. The bill would also establish a Health Freedom Waiver Program, allowing states to broaden their health plans and expand competition to offer fairer prices.

At this time, there is no vote scheduled for Scott's legislation.

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