WASHINGTON — Health insurance companies, facing the threat of a government health plan, offered Tuesday to reduce rates for millions of women and accept close federal regulation of their industry.
The industry is trying to head off creation of a government health plan that would compete with them to enroll middle-class workers. President Barack Obama and many Democrats favor such a plan, but the companies say it would drive them out of business.
Employer groups also are leery, fearing a public plan would entice young, healthy workers by offering lower premiums.
"We are not asking people to trust us, we are asking people to trust government,” Karen Ignagni, president of America’s Health Insurance Plans, told a Senate panel that is crafting sweeping legislation to overhaul the nation’s $2.5 trillion health care system.
Instead of a government plan as a check on their industry, insurers are offering to accept a series of consumer protections they contend would add up to a fairer marketplace and help reduce the ranks of the 50 million uninsured.
Finance Committee leaders are hoping to bring a bill concerning the topic to the Senate floor this summer. The broad outlines will follow Obama’s campaign proposal, which builds on the current system of shared responsibility among employers, government and individuals.
by the associated press
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