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Published on Jul 19, 2008
This video is a skit written by supporters of HR 676 the single payer national health insurance bill in Congress (John Conyers - Michigan). All other industrialized countries have universal national health care. Their medical costs are far less than ours are in the United States but their health outcomes are as good or better.
Americans have seen their health insurance premiums increase by 87% from 2000 to 2006 while their earnings only increased by 20% and the average rate of overall inflation was 18% during the same time period (Kaiser Family Foundation).
Why does your health care cost so much?
Data from the Institute for Health and Socio-Economic Policy show that:
1. The top seven U.S. health insurers earned a combined $10 billion dollars - nearly triple their profits of 5 years earlier (Wall Street Journal, August 2006).
2. In 2004 top executives of the 11 largest health insurers made a combined $85 million per year in one year (Weiss Reports).
3. The 20 largest HMOs in the U.S. made $10.8 billion in profits in the fiscal year 2005. 12 top HMO executives pocketed $222.6 million in direct compensation in the fiscal year 2005.
4. Dr. William McGuire, CEO of UnitedHealthcare had $1.6 billion in exercisable options at the end of 2005 (CBN News, Oct. 16, 2006) in addition to his salary.
30%-35% of each dollar of your premium goes to pay for: executive salaries, administration, lobbying, marketing and other non-health care related costs.
It's time for privately delivered health care with public funding - like our Fire Departments and Police. It's time for HR 676.