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Baucus unveils health bill

WASHINGTON, D.C.

WASHINGTON, D.C. — Senate Finance Chairman Max Baucus has unveiled this morning his committee’s much-anticipated version of the health care reform bill.

The bill would cost $856 billion over the next 10 years, require all individuals to purchase health coverage or pay a fine, and ban insurers from charging more or denying coverage to those with pre-existing health problems. As expected, it does not include a Medicare-like public option, which has irked liberal Democrats. Instead, it calls for nonprofit co-ops to compete with private insurers.

Despite months of negotiations with the so-called “Gang of Six” —  a bipartisan group of centrist and conservative Senators on the Finance Committee — the bill currently has no Republican support.

More details to come.