The Latest: Georgia gov says health plan creates 'stability'

ATLANTA (AP) — The Latest on Georgia Gov. Brian Kemp's health care proposal (all times local):

3:50 p.m.

Republican Gov. Brian Kemp says his newly unveiled plan to overhaul Georgia's health insurance market will give "more stability and predictability" to Georgia families.

The proposal was released at a Thursday news conference. It aims to reduce premiums for residents who buy health insurance under the Affordable Care Act, President Barack Obama's signature health law.

It would also mean residents bypass Healthcare.gov and sign up for insurance directly through an insurance provider or broker website.

Kemp's plan could eventually provide subsidies for cheaper coverage that doesn't include all of the benefits required by the ACA.

If the plan is approved by the federal government, Kemp says "hundreds of thousands of Georgia families will see a reduction in their premiums."

Kemp ended the news conference without taking questions.

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2:00 p.m.

Georgia Gov. Brian Kemp has unveiled a much-anticipated plan to overhaul the state's health insurance market under the federal Affordable Care Act.

The proposals released Thursday aim to reduce premiums for residents who buy health insurance under President Barack Obama's signature health law.

They could also eventually provide subsidies for cheaper coverage that doesn't have to include all of the benefits required by the ACA.

The plan does not address Medicaid coverage. The Kemp administration is expected to release its plans for Medicaid next week.

One part of its ACA proposal calls for the state and federal government to pay a portion of insurance companies' costs to treat their sickest patients. The so-called reinsurance program would allow the companies to lower monthly premiums for all customers.