That Didn’t Take Long: Insurance Industry Breaks Promise to President Obama

That Didn’t Take Long: Insurance Industry Breaks Promise to President Obama

Why we can’t trust the insurance industry with health care reform.

Just four days after standing next to President Obama and declaring their commitment to control health care costs to the tune of $2 trillion over 10 years, the insurance industry, drug and medical device makers, and hospital groups are backing off their promise:

Hospitals and insurance companies said Thursday that President Obama had substantially overstated their promise earlier this week to reduce the growth of health spending.

Mr. Obama invited health industry leaders to the White House on Monday to trumpet their cost-control commitments. But three days later, confusion swirled in Washington as the companies’ trade associations raced to tamp down angst among members around the country.

Health care leaders who attended the meeting have a different interpretation. They say they agreed to slow health spending in a more gradual way and did not pledge specific year-by-year cuts.

via That Didn’t Take Long: Insurance Industry Breaks Promise to President Obama | Health and Wellness | AlterNet.

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