House Democrats unveil first draft of healthcare reform plan.

Politico reports that Democratic leaders in the U.S. House of Representatives have released their draft of healthcare reform legislation. The bill creates a public insurance option, expands Medicaid, and requires employers to provide coverage or pay a tax. It also carries an individual mandate, with exception for cases of hardship. Those who are not covered by health insurance would pay a penalty based on 2 percent of their income above a certain level. The draft does not contain details on how to pay for the plan. Additionally, Rep. Henry Waxman (D-Calif.), head of the House Energy and Commerce Committee, stated that the House wants to find a permanent fix for the Medicare Sustainable Growth Rate reimbursement formula.
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