Health industry delivers plan to White House
Tuesday, Jun 02,2009, 12:20:19 PM Click:
They identified three big areas for savings: $150 billion to $180 billion from more efficient use of health care services, $350 billion to $850 billion from better managing chronic diseases, and $500 billion to $700 billion through administrative improvements such as standardizing claim forms.
The health insurers, doctors, hospitals, drug-makers and others were under pressure to make good on a pledge they made last month to curb their own costs to help President Barack Obama achieve his health care overhaul goals.
THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.
WASHINGTON (AP) _ Health industry officials pushed to get a plan to the White House Monday documenting how they'd save $2 trillion over a decade through measures like reducing hospitalizations and cutting down on paperwork.
On Capitol Hill, Sen. Edward M. Kennedy's health committee was readying legislation to implement President Barack Obama's goal of extending coverage to 50 million uninsured Americans. A plan to achieve the same goal, but through some different measures, was taking shape in the tax-writing Senate Finance Committee, led by moderate Sen. Max Baucus, D-Mont.
The two chairmen pledged over the weekend to work together.
Health insurers, doctors, hospitals, drug-makers and others were under pressure to make good on a pledge they made last month to curb their own costs to help Obama achieve his health care goals.
Their White House photo-op was closely followed by criticism that their plans were short on detail and unenforceable, and Obama asked them for a progress report. They were expected to deliver it Monday.
"We welcome the efforts of the private sector health industry groups to spell out the ways in which they would achieve these savings that they told the president they could achieve," said White House health spokeswoman Linda Douglass in anticipation of receiving details from a leading labor union and five major industry groups including the American Medical Association and America's Health Insurance Plans.
Plenty of work lay ahead. Kennedy's health committee forecast a more liberal plan than what Baucus appeared likely to produce.
Among other potential areas of difference, Kennedy has committed to including in his bill a new public insurance plan that would compete with private insurers for the first time to cover middle-class Americans.
Baucus has said he supports a public plan, but he is trying to produce a bipartisan bill that can keep his top committee Republican, Chuck Grassley of Iowa, on board. Grassley _ along with other Republicans and the business community _ has expressed strong opposition to the new public plan concept, saying it could drive private insurers out of business.
The result could be that both committees produce legislation with public plans, but that they are structured quite differently, according to committee aides. One possibility the Senate Finance Committee has discussed is an approach that would trigger a government-sponsored plan only if private insurance companies weren't offering good enough options.
Meanwhile, a coalition of progressive groups, including Howard Dean of Democracy for America, announced plans Monday to spend $82 million on advertising and organizing in favor of Obama's health care overhaul.
You may also be interested in:
Featured
THE INFLUENCE GAME: Insurers fighting back quietly
WASHINGTON_Cast as a profit-hoarding villain by Democratic foes, the insurance
Movers roundup: Ciena, Pfizer
Among the stock activity stories for Tuesday, May 12, from AP Financial News:
Man accused of torching church where he was music
A federal grand jury has indicted a Kansas City man, alleging that he set fire
Citizens Business Bank signs agreement with FDIC to
Bank holding company CVB Financial Corp (NASDAQ:CVBF) disclosed late Friday
Assured Guaranty Ltd annonce l'exercice des options de
HAMILTON, Bermuda--(BUSINESS WIRE)-- Assured Guaranty Ltd. (Assured)
MaybachFinancial.com Posts Free Analyst Report on ETN,
LONDON -- (MARKET WIRE) -- 04/23/09 -- MaybachFinancial.com is one of the
MOST POPULAR
- Most Read
- Most Discussed
- Most Emailed
- A.M. Best Places Ratings of Forethought Life Insurance Compa
- A.M. Best Downgrades Issuer Credit and Debt Ratings of Jackson National Life Insurance Company and Its Affiliates
- A.M. Best Downgrades Ratings of Bankers Life Insurance Company; Revises Outlook to Negative
- Farmers Insurance(R) Named One of the 'Best Companies to Work For' in the Greater Kansas City Area
- Till Death Do Us Part; How second-to-die life insurance pol
- Chartis Charts Its Path Away From AIG
- A.M. Best Revises Outlook to Negative for AXA Financial, Inc
- Prepared Insurance Strategy Shaped by Florida Regulation, Rates
- Bank of America began to reduce the principal amount of mortgage loan modifications
- A.M. Best Downgrades Issuer Credit Ratings of Primerica Life
-
With Scammers On The Prowl, did your homework before you buy -
The Hartford Named One Of The World's Most Ethical Companies -
Without the Wind Blowing, Florida Insurers Struggle to Hang On -
Annuity Industry Fights Back, Last Chance to join the " -
Indiana teachers union to cover disability claims -
Prudential Financial to take failed Yamato Life in Japan in -
The Hartford Raises $900 Million -
Summer Vacation: Travel Insurance Tips From eHealthInsurance


Discuss this news
Click Here to see all comments