Daily News Updates - Health Insurance News

Senate Finance Committee, Pt.3 -- For Health Care Reform

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This is the continuation and follows Part 2 containing Senator Salazar’s statements before the Senate Finance Committee concerning health insurance and health care reform:

"While many in our nation go without care, it certainly is not due to a lack of health care spending. In 2005, health care expenditures in the U.S. totaled over $2 trillion dollars - nearly 15 percent of our gross domestic product and the highest spending level of any developed nation by far. So I ask myself - with so much of our money being spent on health care services, how can so many of our people lack access to affordable, high quality care" It is a dynamic we all struggle to understand, and I look forward to hearing the panel's thoughts on this during today's discussion.

"When I go back to Colorado and talk to the people in my state, their number one health concern is the cost of care. The price they must pay drives every decision they make when it comes to their personal health - which is certainly not the way we should be making life-altering decisions for our friends and loved ones. For those people without insurance, the problem is obvious - they cannot afford to pay the staggering "sticker price" for health care services out of their pocket - and they rely too heavily on emergency services which are inefficient, expensive and less than ideal. But the growing plight of the uninsured causes difficulty for individuals with insurance as well, as many of the costs of treating the uninsured are passed along to all consumers and result in increased premiums and cost-sharing obligations. This often means that even those with insurance cannot afford to seek treatment because they cannot afford their high deductibles and co-payments, creating a vicious cycle of unmet health care needs.

Continued...