Gov. Charlie Baker, much like he did when the U.S. House rolled out the American Health Care Act, warned Thursday that the Senate's draft repeal of Obamacare would result "significant funding losses" for Massachusetts through billions of cuts to the federal Medicaid program.

Baker, a Republican, has been insistent during the debate in Washington that any changes to the Affordable Care Act not shift the more of the financial obligation of providing health coverage to the low-income and disabled onto states.

"Since Washington has started debating reforms to the health care law, Governor Baker has been clear that any changes must preserve our ability to provide quality health care coverage in Massachusetts and allow flexibility to responsibly manage programs like Medicaid-and the administration is concerned that upon a first review, this version falls short and will result in significant funding losses for our state," Baker communications director Lizzy Guyton said in a statement Thursday afternoon.

Senate Republican leaders on Thursday released a draft of its version of a health care reform bill that could be voted on next week that would scale back insurance subsidies under Obamacare and impose a cap on federal spending on Medicaid that would tighten over time and squeeze billions of dollars out of the program.

States, under the plan, could either continue to pay for the existing level of benefits or make use of increased flexibility to offer cheap health plans with fewer benefits than currently allowed under the ACA.

The Baker administration said it continues to review the legislation, and noted that the Congressional Budget Office is expected to score the bill early next week before a possible vote.

At least four Senate Republicans have already said they oppose the draft bill, and all Democrats, including Bay State Sens. Elizabeth Warren and Edward Markey, are expected to vote against it.

"Governor Baker will keep working with other governors, the Congressional delegation and federal officials to advocate for solutions that work for Massachusetts, including protecting our waiver to support behavioral health and fighting the opioid epidemic and funding for Planned Parenthood," Guyton said.

Baker has also vowed to use state funds to offset any loss of revenue for family planning clinics, such as Planned Parenthood, that could be impacted by the Senate's plan.