The Dish is still trying to figure out what to make of it. Here's Yglesias' take:
The status quo in the United States is really bad. Baucus’ plan would make it better. There are people right now who could use health insurance, but they’re too poor. Baucus would make many of them eligible for Medicaid and more of them eligible for subsidies to let them afford private insurance. Hopefully something better than this plan can be worked out between the merger of the Finance bill and the HELP bill and the conference committee and all the rest. But even in its meager Baucusish form, the health reform currently on the table would be the biggest piece of progressive social policy in decades.
Kaiser Health News rounds up MSM parsing of the proposal. Tax Foundation doesn't think that taxing some employer provided medical coverage goes far enough, but completely eliminating the employer tax advantage doesn't seem politically viable. Jonathan Cohn and Ezra Klein both weighed in yesterday, as did Reihan, who wasn't too impressed.