Graham-Cassidy wouldn’t eliminate Obamacare’s requirement that insurance companies cover people with pre-existing conditions, and it wouldn’t let states seek a waiver from that provision, either.
But it would let insurers charge people with pre-existing conditions far more than people without them — which is illegal under current law. The new version would also let states raise Obamacare’s cap on out-of-pocket costs. Together, those and other efforts to deregulate the insurance markets could effectively prevent people with expensive health conditions from obtaining coverage, even if it were technically available.
This is called a hustle.