The House of Representatives plans to vote Wednesday to repeal the health care reform law approved last year.
Repeal was a central campaign platform for House Republicans in 2010. Many handicappers argued that the calls for repeal helped escort the GOP into the majority for the first time since 2006.
The Congressional Budget Office (CBO) and the Joint Committee on Taxation estimated the legislation cost $938 billion over ten years. It would require most people to obtain health insurance and expand coverage to 30 million people who were previously uninsured.
The CBO estimates that repealing the measure would add approximately $230 billion to the deficit. But many Congressional Republicans dispute that figure. They contend that the law "double counts" certain revenue generators and would adversely effect the U.S. economy.
To find out your share of the health care bill, CLICK HERE TO USE OUR TAXPAYER CALCULATOR.
In addition to the overall package, we've also broken down the bill into three main pieces:
- The gross cost of exchange subsidies and related spending
- The cost of Medicaid and expense of the Children's Health Insurance Program
- The cost of small employer tax credits.
The bill sets up a health insurance exchange through which some people could receive federal subsidies to reduce the cost of purchasing coverage. It's the largest portion of the bill. CBO estimated it cost $464 billion over a decade.
In order to expand coverage, the bill expands eligibility for Medicaid and the Children's Health Insurance Program. Slightly more than half of the individuals to be insured (16 million) will come from this group. The CBO estimates that it will cost $434 billion over ten years to cover the new enrollees. What's your share?
Certain small businesses and tax-exempt organizations that provide health insurance for their employees will get a tax credit to help cover costs. The hope is to influence employers to continue coverage for workers or offer insurance for the first time. This is the smallest portion of the law. CBO estimates will cost $40 billion over 10 years. How much does it cost you?
FOX News producer John Brandt contributed to this report.