Senator Wyden is right. This plan is unaffordable for middle class families.

Wyden noted a family of 4 with an AGI just $1 over the 300% Federal Poverty Level (FPL) for a family of 4--$66,150-could be required to pay as much as 13% (the cap) of their AGI on the HIE--$8,600--in addition to co-pays and deductibles. This 13% cap applies to those making between 300-400% of the federal poverty level. They would, of course, receive no subsidies.

Apparently, at over 300% of the FPL, you are exempt from the fines ($950 for an individual and up to $3,800 for families) if the cost of the lowest cost option on the plan exceeds 10% of your AGI.

http://www.nytimes.com/2009/09/17/health/policy/17health.html?pagewanted=2&hp

72% of the uninsured are below the income level required to afford
employer health insurance. Based on U.S. Census Bureau data, 2005

"This augmented chart shows an estimate of the income level required for the uninsured to afford a 'company insurance plan.' Self funded plans covered 54% of those insured (p. 162) at the time this data was collected. According to the study, an individual needs income of 300% of the federal poverty level, $27,000 to afford 'employer insurance.' A family of four needs an income of 300% of the federal poverty level for families or $57,000 for 'employer" insurance.' This study didn't presume an insurance 'exchange' but the analysis is applicable as a model for answers we need to determine the ability of people to purchase insurance under the president's proposal."

From: http://www.scoop.co.nz/stories/HL0909/S00093.htm or
http://smirkingchimp.com/thread/23731

It's silly to have thousands of pages and to create a whole new bureaucracy.

A much better solution could probable be sorted out in just one or two pages:

We hereby extend Medicare to all Americans who wish to purchase it. Benefits for those who already qualify are preserved. Those who qualify for financial assistance can receive subsidies to pay their portion of Medicare coverage.

Done. Problem solved.