Liberal bloggers figured that if big business likes it, it must be the status quo. Paul Krugman figured that the big businesses were just rolling over in the face of an unstoppable force. My Examiner column explains the more straightforward explanation for Big Pharma's and Big HMO's support for Obama's plan: profit.
Read the whole column here.
The insurers’ interest here is obvious: Half their business is reducing health care costs. Plus, Kennedy’s plan would mandate everyone maintain health insurance.
At PhRMA’s annual conference, [PhRMA chairman David] Brennan uttered the magic words of a corporate executive looking for a handout and beneficial regulation: “I’m an advocate of free-market-based health care solutions. But within that framework, I support appropriate government efforts to protect people whose health care needs aren’t met by the private marketplace.”
Specifically, PhRMA wants a government mandate that insurers cover prescriptions. Also, the biggest drug makers currently subsidize the prescriptions of poorer customers, and health care reform provides an opportunity to shift the subsidy costs onto the government and the insurers.