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The Committee will take up four provisions, including a repeal of the individual and employer mandates, which requires everyone to purchase health insurance or face large tax penalties, and the medical device and Cadillac taxes, which ultimately drives up the cost of insurance for many consumers. The bill will also end the Independent Payment Advisory Boards, which is a panel unelected bureaucrats who determine what healthcare is available under Medicare.
The move comes in the wake of renewed efforts to repeal and replace the law as health insurance costs continue to increase and the certain aspects of the law are set to be phased in by 2016, including large increases in the fines for not purchasing health insurance. "Our economy is on the mend, but we can't afford to raise taxes on families and small businesses who are struggling," said Reed. "If the Senate and the President fail to act on these changes, they are allowing a huge increase to go into effect."
Reed went on to advocate for allowing certain elements of the law to stand, including allowing children to stay on their parent's health insurance until age 26 and mandatory coverage of pre-existing medical conditions.
"We need to stand up for individuals. I think it's only right that they have access to affordable coverage that works for them, but it's clear that the current law is broken and needs to be addressed."
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