(Radio Iowa) – Iowa Senator Chuck Grassley is waiting to see the results of an 11th hour meeting Monday night between a bipartisan group of about two dozen of his Senate colleagues, who were working to create their own version of a health care bill. “I think it’s very important that they try to reach an agreement before the end of the year, before big increases in health insurance kick in,” Grassley says, “and I hope it has the reforms in it.” There are widespread reports of Iowans who will face a quadrupling of their monthly health insurance premiums unless reforms pass quickly.

Grassley, a Republican, says in order for him to back the plan, it will have to include an income eligibility cap and efforts to prevent fraud. “People making as much as $600,000 a year, and we have at least one example of that, aren’t getting subsidized for their health insurance,” Grassley says. “People that are on both Obamacare and Medicaid, and that goes into a few million that fall into that category.”

For months, Democrats have pushed for an extension of the tax credits to people who use the Affordable Care Act marketplace, while Republicans have resisted saying the current plan is far too expensive and filled with loopholes. “If we’re going to get an agreement, some of those frauds and some of that duplication must be taken out,” Grassley says, “and it will be taken out because it’s so obvious.”

While the A-C-A subsidies will expire at month’s end, lawmakers are only scheduled to work through the end of this week before they recess for the year.