Washington (CNN) -- The Obama administration raised the stakes in the health care debate Monday, releasing a new blueprint that seeks to bridge the gap between measures passed by the Senate and House of Representatives last year. If enacted, the president's sweeping compromise plan would constitute the biggest expansion of federal health care guarantees since the enactment of Medicare and Medicaid more than four decades ago. The White House said it would extend coverage to 31 million Americans. Among other things, the White House said it would expand Medicare prescription drug coverage, increase federal subsidies to help people buy insurance and give the federal government new authority to block excessive rate hikes by health insurance companies.
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NEW: House GOP leader: Health care summit has "all the makings of a Democratic infomercial"
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Administration plan seeks to bridge gap between House, Senate bills
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President Obama's plan doesn't include public option
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Plan would seek to block excessive rate hikes by health insurance companies
• The federal government would assist states by picking up 100 percent of the costs of expanded @placeholder coverage through 2017.
The @placeholder bill, in contrast, would have imposed a fine of up to 2.5 percent of an individual's income.