The Senate this week is set to begin debate on its version of health care reform.

Here is how the Senate bill differs on key issues from legislation the House passed Nov. 7.

How it would affect you?

Individual mandate

House » The proposal requires all Americans to have insurance, but has exceptions for American Indians, people facing financial hardship and those with religious objections. The fine for not participating would be a new 2.5 percent tax applied to your adjusted gross income above a certain level. That level is $9,350 for an individual, $18,700 for a family.

Senate » The Senate plan also includes a requirement to buy insurance and it has the same exceptions as the House, but the penalty would differ. It would start as a $95 per person penalty in 2014 and grow to a $750 fine by 2016.

The exchange and federal subsidies

House » The legislation creates a nationwide online marketplace where small businesses and people buying their own policies can shop for coverage. It would not be available for most Americans, who are covered through their employers. The exchange would offer insurance from private companies and a government-run public option. The government would offer a sliding scale of subsidies to people making up to 400 percent of the poverty level (or $88,200 for a family of four).

Senate » The Senate legislation also creates an exchange and offers the same subsidies to low- and middle-income Americans. But instead of a nationwide exchange, it would call for states to create their own models. States could band together to offer a regional exchange.

The hot-button issues

Public option

House » The government would create a federally regulated plan that would negotiate payments with doctors and hospitals, The House decided against tying it to the cheaper Medicare rates.

Senate » The Senate version of a public option is nearly identical to the House version, but with one major change: States could opt out if they don't like it.

Abortion

House » The government-created public option would not offer abortion coverage. People getting federal subsidies to buy insurance through an exchange could not pick a plan that offers elective abortions.

Senate » The public option would offer abortion coverage, but the bill requires that federal money be segregated from premiums. Only private money collected from premiums could pay for abortions. People receiving subsidies could also pick a plan covering abortions, as long as it also segregates its funds. At least one plan in every exchange must offer abortion coverage.

THE BOTTOM LINE

The cost

House: About $1 trillion over the next 10 years.

Senate » About $850 billion over the next 10 years.

Paying for the plan

House » Leaders in the House plan to cover the cost of reform with a tax on medical devices and a 5.4 percent surtax on wealthy Americans (individuals making more than $500,000 or families making more than $1 million a year). They would also raise about $400 billion through Medicare, by reducing projected spending and trimming government subsidies to privately offered Medicare Advantage plans.

Senate » Senate Democrats take a different route, funding reform with a series of taxes and fees, among them are:

» A 40 percent tax on "Cadillac" insurance plans in which premiums for an individual top $8,500 in a year, and run more than $23,000 per year for a family.

» A 1.95 percent increase in the Medicare payroll tax for people making more than $250,000 a year.

» A 5 percent tax on elective cosmetic surgeries.

» Fees on insurance companies, medical device makers and drug manufacturers.

Like the House bill, the Senate also squeezes future Medicare payments and slices subsidies to Medicare Advantage, raising more than $400 billion.

Net financial impact

House » The plan raises or saves more money than it spends reducing the deficit by $139 billion over 10 years, according to the nonpartisan Congressional Budget Office.

Senate » This version reduces the deficit by $130 billion over 10 years, according to the CBO.

Compiled by Matt Canham

Sources: Congress, CBO, Kaiser Family Foundation

Question about reform? E-mail us

Do you have questions about health care reform? Have you heard something you don't understand or you'd like us to investigate? Send your questions to hcreform@sltrib.com and our reporting team will answer them in print and online at www.sltrib.com/health.