Unlike other versions, the finance bill includes a new tax on the most-expensive insurance plans, doesn’t require employers to provide coverage to workers, and omits a provision creating a new government insurance program, the so-called public option, which most Republicans oppose.

Nonprofit co-operatives would instead provide competition to an insurance industry that stands to gain millions of new customers because the bill requires Americans to obtain insurance. The measure also imposes new restrictions on insurers’ ability to deny people coverage.

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The Congressional Budget Office gave the bill a boost last week when it estimated the measure would cut the federal budget deficit by $81 billion over 10 years. Obama has vowed not to sign any bill that adds “one dime” to the deficit. The agency also said the proposal would provide insurance for 94 percent of all legal residents of the U.S., up from 83 percent now.

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To expand health-insurance coverage, the legislation requires all U.S. citizens or legal residents to have coverage, or pay a penalty of $750 per year, with the fines phased in between 2014 and 2017. Those forced to pay more than 8 percent of their income to buy insurance are exempt.

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