Big U.S. companies balk at healthcare public option


More trouble in paradise for the government option. Some of the country’s largest companies are not buying what the Dems are selling. Stay tuned for the double talk, the excuses, and the back-peddling. I would even say we might see some bribes incentives coming down the pike.


WASHINGTON (Reuters) – Some of the nation’s largest companies pushed back against U.S. Democrats’ plans to deliver a government-run insurance option in a healthcare overhaul, decrying it as a step backward that would drive up costs for employers and their workers.

The Business Roundtable, comprised of chief executives at Verizon Communications (VZ.N), JPMorgan (JPM.N), General Electric (GE.N), Wal-Mart (WMT.N) and other companies that together employ more than 12 million people, said the federal government is inefficient and would underpay providers. That would result in providers boosting prices for private insurers and employers, the group said on Wednesday.

“A public plan would neither manage cost nor encourage innovation,” said Antonio Perez, chief executive of Eastman Kodak Co (EK.N) and head of the Business Roundtable’s health initiative. “We believe it is the wrong direction for fixing our health care system.”

Read the rest of the article here:

http://www.reuters.com/article/businessNews/idUSTRE59R3TV20091028?feedType=nl&feedName=usdai

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Filed under Harry Reid, Healthcare Bill

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