Former Massachusetts Gov. Mitt Romney is delivering a major address on health care reform at 2 p.m. at the University of Michigan's Cardiovascular Center in Ann Arbor. Refresh this post for live updates.

Former Massachusetts Gov. Mitt Romney speaks today at the University of Michigan's Cardiovascular Center in Ann Arbor.

Melanie Maxwell | AnnArbor.com

3:30 p.m.: Here's our full story on Romney's speech. Check back later as the story is update, too.

3:05 p.m.: Speech is over. Romney shook some hands and made his way through a crowd of reporters without taking questions. Check back soon for a full report on his speech, the political implications and the reaction from the health care community.

2:52 p.m.: "There's not a lot I want to borrow" from the system in France and Norway. But says he does like that they require "co-insurance" policies.

2:50 p.m.: “One of the challenges of our current system is that we don’t incentivize people to live healthy.” Says that it "makes sense" to encourage regular checkups and exercise as a way to reduce health care costs. Cites companies like General Electric and Safeway as examples of businesses that offer programs to their employees to help them be healthy.

2:47 p.m.: Romney acknowledges that Massachusetts reform "wasn’t perfect. It included some things I wish we could have done differently."

2:46 p.m.: Speech is over. He's taking questions.

2:42 p.m.: Says he's not proposing specific Medicare reforms today but plans to do so later.

2:41 p.m.: Romney said he wants to reform the fee payment system, including alternatives to fee-for-service such as bundled payments.

2:34 p.m.: Romney says that, if elected president, he would issue an executive order on his first day in office to provide "ObamaCare waivers" for the 50 states. Then, he said, he would work with Congress to repeal the legislation altogether.

2:32 p.m.: Obama's reforms "repel people from coming into the medical profession" and will "discourage innovation," Romney argues. He says, "It kills jobs."

2:31 p.m.: Romney says the fact that the federal government tax code favors employer-provided insurance and makes it difficult to buy insurance on your own is "tax discrimination." He wants to make it easier for individuals to buy their own insurance.

2:29 p.m.: Romney says it would be dishonest to say his reform in Massachusetts was the wrong thing to do. He's not backing down from it, but says the the nation needs a different approach.

2:28 p.m.: Romney says Massachusetts reform was not a government insurance system. It was a "premium support program," he said. He said it helped 400,000 uninsured residents get coverage.

2:25 p.m.: Romney is taking a few minutes to describe why Massachusetts health care reform included a mandate that individual citizens have insurance, which is similar to the federal law.

2:22 p.m.: Says Obama's reform raises taxes by $500 million over 10 years and that he didn't raise taxes as part of the Massachusetts plan.

Former Massachusetts Gov. Mitt Romney speaks today at the University of Michigan Cardiovascular Center in Ann Arbor.

Melanie Maxwell | AnnArbor.com

2:20 p.m.: On the Obama administration: "They fundamentally distrust free enterprise and distrust the idea that the states are where the power of government resides."

2:19 p.m.: Says the federalist system was set up to encourage competition between the states.

2:17 p.m.: Says he's here to talk about why he wants to "repeal and replace" Obama's health care reforms.

2:16 p.m.: Romney highlights his Michigan ties, says he's "been a Michigan and a Wolverine fan for a long, long time." Says the U-M Cardiovascular Center is a "extraordinary facility" and that it's helping the university attract top-notch talent.

2:15 p.m.: Speech starting. Romney is expected to call for "ObamaCare" to be repealed.

2:10 p.m.: Among those not attending is Michigan Gov. Rick Snyder. His spokeswoman said Snyder was invited but could not attend or speak to Romney by phone due to scheduling conflicts. During Michigan's 2010 gubernatorial primary, Romney endorsed Snyder opponent Pete Hoekstra, a former congressman from West Michigan. Romney later campaigned for Snyder during the general election.

2:08 p.m.: Cynthia Wilbanks, U-M's vice president for government relations, is also here.

2:04 p.m.: Still awaiting the start of the speech. I spoke with Michigan Democratic Party chairman Mark Brewer a little while ago. He said Romney is trying to back track on his previous health care reform policies. “Mitt Romney will do anything to get elected president,” Brewer said.

“He’s changing his positions in order to get the nomination for president, catering to the right wing of the Republican Party, because the record he established as Massachusetts governor is something they’ve been very critical of.”

1;58 p.m.: Attendees have been trickling in. Just spotted Ann Arbor area doctor Rob Steele, a Republican who lost the Michigan's 15th congressional district race against U.S. Rep. John Dingell.

Former Massachusetts Gov. Mitt Romney, seen here in west Michigan in 2006, is speaking today at the University of Michigan's Cardiovascular Center.

File photo | Grand Rapids Press

1:49 p.m.: Here's a preview of Romney's health care reform proposals, which include repealing President Barack Obama's reform law and giving states more flexibility on how they manage Medicaid programs.

1:40 p.m.: The university has emphasized that Romney's appearance is being paid for and organized by the College Republicans. U-M put out a statement yesterday saying that Romney's appearance does not mean that the university endorses his political views.

1:35 p.m.: A podium is set up at the front of the auditorium with a fairly large screen set up for a PowerPoint presentation Romney plans to use.

1:33 p.m.: About 100 people (in addition to media, that is) are expected to attend the invitation-only speech.

1:30 p.m.: Dozens of national media — including TV, web, newspaper and radio journalists — have already arrived to cover Romney's speech.

Contact AnnArbor.com's Nathan Bomey at (734) 623-2587 or nathanbomey@annarbor.com. You can also follow him on Twitter or subscribe to AnnArbor.com's newsletters.