But don't take my word for it. Ask the Congressional Budget Office. The CBO says the bill would only extend coverage to 3 million people by 2019, leaving 52 million uninsured by the same year. It would, however, reduce insurance premium costs. The Democrats' bill, by contrast, would extend coverage to 36 million. From the NYT blog "Prescriptions":
According to the report by nonpartisan budget office, the Republican bill would reduce future federal deficits by $68 billion over 10 years, compared to a reduction of $104 billion by the House Democrats’ legislation.
The findings by the budget office mostly seemed to confirm assertions by Democrats that the Republican bill, offered as an amendment to the Democrats’ measure, would do little to change the status quo.