The U.S. Capitol Building in Washington D.C. [EPA Yonhap News file photo. Resale and database prohibited]

A bill submitted to the U.S. Senate to resolve the impending expiration of subsidies for health insurance premiums under the Affordable Care Act (ACA), also known as "Obamacare," was defeated on the 11th (local time), with both proposals from the ruling and opposition parties failing to pass.

The Senate held a vote in a plenary session that day on the bills submitted separately by the ruling Republican Party and the opposition Democratic Party.

The Republican bill, voted on first, was defeated with 51 votes in favor and 48 votes against. All 47 Democratic senators and Senator Rand Paul (Kentucky) of the Republican Party voted against it. The bill required at least 60 votes to pass.

This bill was jointly sponsored by Senator Bill Cassidy (Louisiana), Chairman of the Senate Committee on Health, Education, Labor, and Pensions, and Senator Mike Crapo (Idaho), Chairman of the Senate Finance Committee.

The core of the bill was to eliminate the Obamacare subsidies and instead expand Health Savings Accounts (HSAs), which offer tax benefits, while directly providing up to $1,500 (approximately 2.21 million Korean won) to low-income individuals.

President Donald Trump of the United States, who has consistently opposed providing Obamacare subsidies to insurance companies and advocated for providing subsidies directly to citizens so they can choose their own health insurance, had supported this bill.

In a subsequent vote, the Democratic bill also failed to pass. This bill, which proposed a three-year extension of Obamacare subsidy payments, was also defeated with 51 votes in favor and 48 votes against.

Four Republican senators, Susan Collins (Maine), Lisa Murkowski (Alaska), Dan Sullivan (Alaska), and Josh Hawley (Missouri), cast their votes in favor along with the Democrats. However, they did not garner the 60 votes needed for passage.

With stark disagreements between the two parties regarding Obamacare subsidies, the two bills, both expected to be defeated on this day, ultimately failed to pass the Senate, making it highly likely that Obamacare subsidies will expire at the end of this year.

Consequently, health insurance premium costs are expected to surge in the United States starting next year, which is anticipated to become a major political issue ahead of the midterm elections next year.

CNN reported that according to KFF, a non-partisan health policy research organization, the expiration of subsidies is projected to cause an average increase of more than double, or approximately $1,000, in enrollees' premiums. Furthermore, the Congressional Budget Office (CBO) estimated that approximately 2 million people would become uninsured next year if the subsidies expire.