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In the struggle to overhaul America's individual health insurance market, Democrats are preparing to unveil an overhaul that would include a public plan.

This new public plan, not unlike Medicare and Medicaid, would provide competition in the individual health insurance market, hopefully driving down prices and simultaneously making it easier for some of America's 47 million uninsured to obtain coverage.

However, according to Reuters, the legislation is opposed by Republicans who fear that the plan is too expensive, and would lead to a "government takeover" of the health care market.

President Obama has long campaigned for an individual health insurance plan that could be both affordable and effective.

The plan, attracting a lot of attention, is still in the early phases and is "being discussed" as an "outline." Obama wants to back healthcare legislation that would enjoy bipartisan support.

How that will play out, and whether the final plan will be approved on both sides of the aisle, remains to be seen.