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Senate Health Care Proposal is Introduced

If you need more info about the Senate's health care proposal, check out our update on AARP Bulletin. Here's a snippet of what happened yesterday:

Congressional efforts to overhaul the nation's health care system took a major step forward Wednesday with the introduction of a 2,074-page proposal by Senate Democrats, which will be the basis for the Senate debate now. Passage of the bill, however, is far from certain and weeks away. The bill, developed by Senate Majority Leader Harry Reid, D-Nev., extends health care coverage to an estimated 31 million Americans who currently lack health insurance. Like the bill passed by the House Nov. 7, the Senate bill has a combination of requirements for both individuals and employers. It also provides subsidies for the poor and authorizes a public option--a government-run insurance plan--for uninsured or underinsured individuals. The Senate bill is largely financed by savings in future Medicare, Medicare Advantage plan and Medicaid spending. Those savings reduce spending by about 3 percent over 10 years, and lawmakers say they would not affect guaranteed Medicare benefits.

Read more here about how both House and Senate bills will affect you and yours.

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