Support for a bill to repeal and immediately replace Obamacare collapsed on Monday and so Senate Majority Leader Mitch McConnell, R-Ky, is instead opting to revive a 2015 bill that gutted Obamacare while Congress can think of a replacement. The bill passed with 52 Republican votes, but was veteod by President Obama.

WHAT IT REPEALS:

  • Penalties attached to the individual and employer mandates for providing or getting insurance;
  • Funding for Obamacare's Medicaid expansion;
  • Subsidies to purchase insurance in the form of tax credits and also cost-sharing reduction payments to insurers;
  • The Prevention and Public Health Fund, which Republicans have derided as a "slush fund."
  • All of the law's taxes; and
  • Defunding Planned Parenthood for a year.

WHAT IT KEEPS:

  • Obamacare's insurer regulations such as mandating coverage for pre-existing conditions, preventing insurers from charging more based on health status, mandating insurers cover 10 essential health benefits such as hospitalization and maternity care.

These regulations were left out of the 2015 bill for fear they couldn't be included in a reconciliation package. But conservatives also say they are the main drivers of higher Obamacare premiums.