Top Republicans in the House and Senate rejected a bipartisan deal to stabilize ObamaCare's insurance markets Tuesday, instead releasing their own, more conservative plan.

A proposal from Senate Finance Chairman Orrin Hatch Orrin Grant HatchBottom line Bottom line Senate GOP divided over whether they'd fill Supreme Court vacancy MORE (R-Utah) and House Ways & Means Chairman Rep. Kevin Brady Kevin Patrick BradyBusinesses, states pass on Trump payroll tax deferral Trump order on drug prices faces long road to finish line On The Money: US deficit hits trillion amid pandemic | McConnell: Chance for relief deal 'doesn't look that good' | House employees won't have payroll taxes deferred MORE (R-Texas) would fund key ObamaCare insurer payments, known as cost-sharing reductions (CSRs), for two years and temporarily repeal the law's individual and employer mandates.

“As I have said all along, if Congress is going to appropriate funds for CSRs, we must include meaningful structural reforms that provide Americans relief from Obamacare,” Hatch said in a statement.

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The proposal goes a step further than a bipartisan bill introduced in the Senate last week. That bill was negotiated with Democrats by Sen. Lamar Alexander Andrew (Lamar) Lamar AlexanderGraham: GOP will confirm Trump's Supreme Court nominee before the election The Hill's Morning Report - Sponsored by Facebook - Washington on edge amid SCOTUS vacancy This week: Supreme Court fight over Ginsburg's seat upends Congress's agenda MORE (R-Tenn.).

While both plans would fund the insurer payments through 2019, the Hatch-Brady plan stipulates that insurers must meet "pro-life" conditions to receive the funds.

The first Senate plan doesn't touch ObamaCare's mandates, while the new proposal does.

Under the Hatch-Brady plan, "relief" from ObamaCare's individual mandate would be provided from 2017 to 2021 and for the employer mandate from 2015 to 2017.

The new plan would also increase the maximum contribution limit for health savings accounts.

“Millions of families in Texas and across the country still trapped in Obamacare are desperately looking for relief — not a reinforcement of today’s failed status quo,” Brady said in a statement.

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Some Republicans, like Hatch, have been critical of the bipartisan health plan for funding the insurer payments without making enough conservative changes.

President Trump has also expressed unease with the bipartisan plan, and some of the changes he has asked for are included in Hatch's proposal.

But Democrats aren't likely to support the Hatch-Brady plan. They argue repealing the mandates could destabilize the markets.