Coverage expansion: Phases in subsidies to low-income individuals over five years, up to 240% of the federal poverty level.
Insurance reform: Market reforms would take effect immediately to make coverage portable from job-to-job, eliminate limits on pre-existing medical conditions and guarantee that coverage is available.
Coverage requirements: At the end of the five-year phase-in, if 96% of all Americans weren't covered, a "mandate" for requiring all individuals to purchase coverage would take effect. Businesses that did provide insurance would have to do so for all of their workers.
Taxes: At the end of the five years, employers that did not provide coverage to workers would pay an assessment. Also, a tax would be imposed on high-cost health plans, defined as those with premiums exceeding the average of the bottom two-thirds of an area's health plans when ranked by price. The tax would be levied on the difference between a target and the actual premium.