President Obama's $950 billion revised health reform plan attempts to compromise on some controversial aspects of legislation passed through the House and Senate. With the legislation floundering, the president plans to meet with Republicans Thursday.

The big headline from today's announcement: A new national regulator to monitor health insurance rate increases. Obama is trying to tap into public outrage over WellPoint Inc.'s proposed insurance-rate increases. The insurer's Anthem Blue Cross is stirring the most controversy after proposing rate increases of almost 40 percent on some customers. If a rate increase is deemed unwarranted by Obama's proposed Health Insurance Rate Authority, the federal body would require insurers to lower premiums or provide rebates.

Here are five other ways the plan differs from previous versions:

Drug companies are targeted—After striking an $80 billion cost-savings deal with the White House, the drug industry appeared to be free and clear of any other fees or regulation. But Obama's new plan asks for a bit more. First, the pharmaceutical companies would pay an additional $10 billion in fees on brand-name products over a decade to help pay for Medicare drug benefits. Obama also would crack down on deals in which big pharma companies pay generic drugmakers to hold off on competing against branded medicines, which add significantly to the costs for employer insurance plans. The Federal Trade Commission estimates the deals to delay generic drugs cost consumers $35 billion over a decade.

Cadillac plans tax raised—Obama and the Democrats ticked off unions last year by proposing taxes on high-value, so-called Cadillac health insurance plans. The Dems proposed taxes on the plans, only to lower them and delay the time in which union plans would see a tax. Now, Obama proposes raising the tax threshold to family plans valued at $27,500 a year from the Senate's $23,000. The taxes wouldn't go into effect until 2018 for union and non-union plans.

Tax credits—Under the president's plan, both individuals and small businesses would get broader tax credits to help pay for health insurance. The tax credits are key as small businesses pay more for health insurance than larger companies, and individuals would be required to buy health insurance under the Democratic reform. Small businesses would receive $40 billion in tax credits under the president's plan.

The Nebraska benefit expanded—All states would receive additional Medicaid funding like Nebraska was set to receive under a deal Dems cut with pro-life Senator Ben Nelson. In exchange for his vote on the Senate plan, Nelson was assured his state would receive millions in additional funding. Republicans called the deal a bribe. Medicaid funding affects what businesses pay for insurance because the private sector ends up subsidizing the cost that isn't covered by the government.

Sniffing out fraud—The president's plan calls for a number of initiatives to crack down on health care fraud, especially Medicare. Billing agencies would undergo background checks and register with the government. A database full of health care providers sanctioned for past Medicare violations would be created. Again, government fraud drives up costs for the entire health care system. Interestingly, these proposals are adopted from a plan floated by Republican Mark Kirk of Illinois, who is vying for Obama's old Senate seat. The president notes that he's drawing on Republican ideas as he readies for the bipartisan meeting on Thursday.