Franken, Klobuchar set to approve health care legislation

Senate Democrats, including Sens. Al Franken and Amy Klobuchar, say they will pass legislation overhauling the nation's health care system Thursday morning.

The bill includes a requirement that nearly all Americans buy health insurance, and it allows uninsured or self-employed people to buy private insurance through a regulated exchange.

Franken said it will extend coverage to more than 30 million people and will provide incentives for states to provide a higher quality of care.

"What we do in the Minnesota really well--and we get punished for it--is deliver high quality care at low cost," Franken said. "And one of the things that Amy and I have been very focused on and getting in the bill is a value index, which will change the formula for Medicare reimbursements."

The bill also prevents insurance companies from denying coverage to people with pre-existing conditions. The bill does not include a government-run insurance option.