On Thursday, the Democrats took the wraps off their eagerly-awaited $940 Billion compromise healthcare proposal, and now the stage is all set for final voting which will happen on Sunday.

Under the new proposal, families of four, earnings up-to $88,000 a year, or 400% of the federal poverty level, would be provided new health insurance subsidies. Also, health insurance exchanges would be set up, which would make it simpler and more convenient for small business, the self-employed and unemployed to put together resources and buy coverage which is less expensive.

Under the new plan, insurers would be required to provide proper coverage for children who are non-dependent, up-to the age of 26. Also, the Federal Government would be assisting states by picking up as much as 100% of the costs involved in expansion of Medicaid coverage between 2014 and 2016. Starting 2020, this would come down to 90%.

Various other changes have been made in order to make the bill look more feasible and attractive, including placing a ban on illegal immigrants from purchasing health insurance in the health insurance exchange.

With the changes, the Administration is now positive that the bill would be passed successfully.