Sen. Bill Cassidy on Monday proposed replacing enhanced Affordable Care Act premium tax credits with pre-paid health savings accounts .

The Louisiana Republican's proposal comes as lawmakers scramble to find a remedy for skyrocketing costs of Obamacare health insurance premiums.

The boosted ACA tax credits , which this year have lowered the cost of Obamacare plans for about 20 million Americans, are set to expire at the end of December.

Cassidy's proposal would allow people who signed up for a so-called Bronze Plan through Obamacare marketplaces to get a pre-paid HSA, funded in part by the lapsed tax credits.

While HSAs would not help pay for monthly premiums, Cassidy told reporters that they would help reduce the cost of health-care expenses, such as co-payments, deduct

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