The new Republican health plan tries to keep the popular parts of Obamacare, such as allowing children to stay on their parents plans until age 26, and making insurers cover people with pre-existing conditions, while getting rid of parts people don't like such as the individual mandate.
It also expands tax credits.
GOP leaders are calling the American Health Care Act, released on Monday, the first three phases in the process of repealing and replacing Obamacare, under a budgetary process that will ultimately allow them to pass the bill through a simple majority in the Senate.
But critics say the bill will not help stabilize the individual market or result in lower prices.
"The risk here is we've got these fundamental reforms that include tax repeals, that undermine the system," said Michael Barnes, managing partner at the DCBA law firm in Washington and a former confidential counsel in the White House Office of drug policy under the George W. Bush administration.
"Without an individual mandate repeal that is somehow balanced by a stronger incentive to get people to buy insurance, you don't have enough of a base for there to be affordability," said Barnes.