Republican health care bill: What's in it?

House Republicans plan to vote Thursday on the latest version of the American Health Care Act – their answer to ObamaCare.

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The bill has gone through some changes since an earlier version was pulled from the floor in March in the face of flagging support.

Here’s what’s the bill does:

-Ends tax penalties, under the original Affordable Care Act, for individuals who don’t buy insurance coverage and larger employers who don’t offer coverage. Instead, insurers would apply a 30 percent surcharge to customers who've let coverage lapse for more than 63 days in the past year.

-Ends tax increases on higher-earning people and a range of industry groups including insurers, drug makers and medical device manufacturers.

-Cuts the Medicaid program for low-income people and lets states impose work requirements on Medicaid recipients. Forbids states that haven't already expanded Medicaid to do so. Changes Medicaid from an open-ended program that covers beneficiaries' costs to one that gives states fixed amounts of money annually.

-Overhauls insurance subsidy system from one based largely on incomes and premium costs to a system of tax credits. The credits would rise with customers’ ages and, like the subsidies, could be used toward premium costs.

-Lets states get federal waivers allowing insurers to charge older customers higher premiums than younger ones by as much as they'd like. Obama's law limits the difference to a 3-1 ratio. States also can get waivers exempting insurers from providing consumers with required coverage of specified health services, and from Obama's prohibition against insurers charging higher premiums to people with pre-existing health problems, but only if the person has had a gap in insurance coverage.

-States could only get the latter waivers if they have mechanisms like high-risk pools that are supposed to help cover people with serious, expensive-to-treat diseases. A newly added provision would give another $8 billion over five years to help states finance their high-risk pools. Despite criticism that the waivers strip protections, House Speaker Paul Ryan’s office maintains that since states that take the waivers would have to set up the high-risk pools, “insurance companies cannot deny you coverage based on pre-existing conditions.”

-Blocks federal payments to Planned Parenthood for a year.

-Retains requirement that family policies cover grown children to age 26.