First, a bit on the process involved, because that will be confusing to some if you look up this bill on the Library of Congress web site.

The Senate bill is a substitute to a House bill, H.R. 3590, which has nothing to do with health care, as the original bill was a plan to modify the first-time homebuyers credit for members of the military and other federal employees.

The Senate simply crossed out all of the original language, and inserted the text of the Senate Democratic health bill, as it had finally been worked out, what's now known as the Patient Protection and Affordable Care Act.

You can download the entire bill, all 2,409 pages, at http://is.gd/a2Go6 .

The Congressional Budget Office described the bill this way:

"Among other things, the legislation would establish a mandate for most legal residents of the United States to obtain health insurance; set up insurance exchanges through which certain individuals and families could receive federal subsidies to substantially reduce the cost of purchasing that coverage; significantly expand eligibility for Medicaid; substantially reduce the growth of Medicare's payment rates for most services (relative to the growth rates projected under current law); impose an excise tax on insurance plans with relatively high premiums; and make various other changes to the federal tax code, Medicare, Medicaid, and other programs."

The CBO estimates that this Senate bill would help insure 31 million people right now who do not have health coverage, leaving around 23 million uninsured.

Here is a rundown of some of the highlights:

* The Senate bill requires Americans to buy health insurance (individual mandate)
* The penalties for those who do not buy insurance start with a phased in cost of $750 per person up to 2% of a person's income.
* There is not a specific "employer mandate" in the bill requiring businesses to buy insurance for their workers, but businesses could be hit with a penalty for providing limited health benefits
* Subsidies would be made available to families and individuals to help with the cost of insurance. Aid would be provided to families making up to $88,000/year and individuals making up to $44,000/year (400% of the poverty level).
* While the Senate does not have a public insurance option, it would allow for national plans that would be managed by the agency that runs the government's health care plan for federal workers.
* The measure would not allow insurance companies to deny coverage because of pre-existing medical conditions
* Limits on the amount of benefits that can be paid out would also be banned
* The bill would reduce the deficit by $130 billion over ten years, but that CBO finding is hotly disputed by Republicans

As for how the bill is paid for in terms new taxes, fees and spending, we'll go through those provisions tomorrow.

It's important to look at this bill, because you never know what might happen. The House could pass the Senate health bill and then maybe Congress doesn't get the second reconciliation bill.

Then the health law would be the details in the Senate bill.