House Speaker Nancy Pelosi unveiled health care reform bill that has already been dubbed "Pelosicare".

Speaker of the US House of Representatives, Nancy Pelosi, unveiled a retooled health care overhaul plan today intended to bridge differences among Democrats and open a history-making floor debate on extending health insurance to nearly all Americans, Fox News reports.

Californian Democrat Pelosi said that the House’s version of a health care reform bill will include a government-run insurance option and extend coverage to 36 million uninsured Americans. She claimed that the bill will lower patient costs and reduce the national deficit.

Pelosi wants to have the legislation on the floor next week which would give President Barack Obama a bill to sign by year’s end, numerous Democratic officials said.

The bill would require nearly everyone by 2013 to sign up through their employer, a government program or a new kind of purchasing pool called an exchange. Tax credits would be available for most of those buying coverage through the exchange. They would have the option of picking a new government plan or private insurance.

The plan also calls for a significant expansion of Medicaid, the federal-state health program for low-income people, and it would impose a requirement on employers to offer insurance to their workers or face penalties.

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