ObamaCARE Replacement?

Senators Richard Burr (R., NC) and Orrin Hatch (R., UT), in conjunction with Rep. Fred Upton (R., MI) have introduced the Patient Choice, Affordability, Responsibility, and Empowerment (CARE) Act, which would repeal Obamacare and replace it with "common sense" reforms. 

A partial press release is below the jump. 

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Burr, Hatch, Upton Unveil Obamacare Replacement Plan Bicameral Republican Blueprint Lowers Health Care Costs and Increases Access to Affordable, Quality Care without Washington Mandates WASHINGTON, D.C. – Today, U.S. Senator Richard Burr (R-N.C.), Senate Finance Chairman Orrin Hatch (R-Utah), and House Energy and Commerce Chairman Fred Upton (R-Mich.) unveiled thePatient Choice, Affordability, Responsibility, and Empowerment (CARE) Act—a legislative plan that repeals Obamacare and replaces it with common-sense, patient-focused reforms that reduce health care costs and increase access to affordable, high-quality care.  In contrast with Obamacare and its government-centered mandates and regulations, this bicameral proposal empowers the American people to make the best health care choices for themselves and their families.  ...

The Patient CARE Act provides a legislative roadmap to repeal the President’s health care law known as Obamacare and replace the law with common-sense measures that would: Establish sustainable, patient-focused reforms: Adopt common-sense consumer protections; Create a new protection to help Americans with pre-existing conditions; Empower small businesses and individuals with purchasing power; Empower states with more tools to help provide coverage while reducing costs; and Strengthen consumer directed health care and allow Americans to buy coverage across state lines. Modernize Medicaid to provide better coverage and care to patients: Transition to capped allotment to provide states with predictable funding and flexibility. Reduce defensive medicine and rein in frivolous lawsuits:  Medical Malpractice reforms. Increase health care price transparency to empower consumers and patients: Require basic health care transparency to inform and empower patients. Reduce distortions in the tax code that drive up health care costs:  Cap the exclusion of an employee’s employer-provided health coverage. Empower Small Businesses and Individuals with Purchasing Power: Targeted tax credit to help buy health care.  To read the Patient CARE Act, click HERE. To read a two-page summary, click HERE. To read a list of Frequently Asked Questions, click HERE. To read a list of illustrative examples, click HERE. To see a comparison of Patient CARE with Obamacare, click HERE.