LEWISTON — U.S. Sen. Olympia Snowe, R-Maine, told colleagues they were all “far from the finish line” as her committee began work Tuesday on its bill to overhaul the health care system.

“There are many miles in this journey, with more than 500 amendments that have enormous implications on policy and financing,” she said in her opening statement to the Senate Finance Committee.

Snowe has been working in recent months with three Democrats and two other Republicans to form a bipartisan approach to the legislation aimed at overhauling one-sixth of the U.S. economy, but the group failed to reach a consensus.

The full committee is reviewing a bill presented by Sen. Max Baucus, D-Montana, the chairman of the committee, which represents much of the work the “Gang of Six” did.

“While we did not reach an agreement, this (bill) is, in a number of facets, reflective of that good-faith effort,” Snowe said.

She offered both praise and criticism of the legislation.

“For the first time, small businesses and the self-employed could access an exchange that would unleash a panoply of state-based and regional plans, as well as plans that cross state boundaries that are offered in all 50 states,” she said. “It is precisely this kind of robust competition that will lower administrative costs that consume almost 30 percent of small business premiums today.”

But Snowe expressed concerns that the bill did not do enough to make health insurance more affordable or to control rising costs within the system.

Over the past 10 years, family premiums in Maine went up 120 percent, though wages grew only 35 percent, according a White House report issued Tuesday.

“There remain major outstanding issues that must be resolved to ensure that everyone, whether in the exchange, or in employer-based coverage, is able to afford a plan,” Snowe said. “That is all the more disconcerting given this (bill) requires individuals to either obtain coverage or pay a penalty — even when there is an absence of affordability.”

A middle-income family of four, making $67,000 a year and with no employer-based health coverage, would be required to pay an average of $13,200 for health care — nearly 20 percent of their income — or pay a fine and have zero coverage, Snowe said.

“This shouldn’t be about imposing punitive measures; it is about our responsibility to accomplish affordability,” she said.

The committee will mark up the proposal and vote on it. If it passes the committee, it will be merged with another health care bill passed by a different Senate committee, and then head to the Senate floor for consideration.

Baucus has said he would like the bill to be voted on by the committee this week, but given the 500 amendments offered, many doubt that will happen.

As the debate continues in Washington, D.C., Mainers will continue to see advertisements aimed at persuading their senators to vote one way or the other. A fundraising page titled “Hold Olympia Snowe Accountable” on the Web site ActBlue.com, raised about $14,000 during the day Tuesday.

ActBlue.com, self-described as “the online clearinghouse for Democratic action,” allows individuals to easily contribute donations to a variety of causes. The Snowe page, created by two lobbying groups — Progressive Change Campaign Committee and Democracy for America — lists about 1,600 contributors raising a total of $58,600. The goal, according to the page, is to raise $100,000 for purchasing airtime in Maine and Washington, D.C.

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