The bill
that passed on a 60 to 39 party-line final tally in a vote that started at 7 a.m.
now must be reconciled with a U.S. House version by a House-Senate conference
committee that will begin its work after the holiday recess, the Washington
Post reported.
The
Post said the
Senate measure requires individuals to buy insurance or pay
a penalty that would be the greater of $750 or 2% of income by 2016. It does
not mandate employers to provide coverage. However, if even one employee
receives a subsidy through the new exchanges, firms with more than 50 employees
would have to pay a fine equal to $750 for every person on their payroll.
On the other hand, the House version requires individuals to purchase insurance or pay a
penalty of 2.5% of income. The House bill also forces employers to pay 65% of
family premiums or pay a penalty based on payroll. Small businesses with less
than $500,000 on payroll are exempt and payrolls up to $750,000 would have a
reduced contribution.
Despite the pending Congressional negotiations, the
Post said,
Democrats
are increasingly confident that President Barack Obama will be able to sign a reform
package into law in early 2010 that would includes mandates against insurers refusing
coverage to people with pre-existing conditions. The bill would limit how much individuals
have to pay for their own care and require other industry reforms.
Those who can't afford insurance plans would receive federal subsidies
under the plan and Medicaid would be vastly expanded to reach millions of
low-income children and adults.
"We
stand here at the finish line . . . with millions of American families who have
been forced into bankruptcy over the cost of health care . . . on behalf of
45,000 Americans who die each year simply because they don't have health
insurance," said Senator Max Baucus (D-Montana), after the vote, according
to the Post. "Today, we make history for them and every American who has
fallen victim to our broken health-care system."
On the
Republican side, lawmakers promised to continue battling against what they see
as unacceptable level of government intrusion that is also too costly. "This
bill is a real threat to liberty because of the precedent that it sets on the
federal government being able to tell individuals what to do," said
Senator John Ensign (R-Nevada), the Post reported.
"This
fight is not over. This fight is long from over," promised Senate Minority Leader
Mitch McConnell (R-Kentucky). "My colleagues and I will work to stop this
bill from becoming law."