WASHINGTON (AP) — A large group of House conservatives intends to unveil legislation providing an expanded tax break for consumers who purchase their own health coverage and increasing the government funding for high-risk pools, according to lawmakers who said the plan marked the Republicans' first comprehensive alternative to President Barack Obama's health care overhaul.

Under the proposal endorsed by the Republican Study Committee, individuals who purchase coverage approved for sale in their state could claim a deduction of $7,500 against their income and payroll taxes, regardless of the cost of the insurance. Families could deduct $20,000.

The RSC claims a membership of 175 members, about three-quarters of the House Republican rank and file. The bill's introduction, expected Wednesday, comes at a time when the leadership has yet to advance any comprehensive alternative to the law Obama signed in 2010, even though lawmakers have voted more than 40 times on repealing part or all of it. The GOP vowed three years ago to "repeal and replace" the existing law.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.