Saturday, November 26, 2011

Elizabeth Warren On Health Insurance: Only Multimillionaires Are Safe

In this bonus interview from Michael Moore’s “Sicko” (watch the entire documentary here), Elizabeth Warren, Massachusetts Democratic senatorial candidate, emphasizes the point that middle class families with health insurance can still be financially ruined in case of serious illness. Such risks were not eliminated by President Obama's healthcare bill, a limited reform of private health insurance that was nonetheless too "radical" for the Republicans and Blue Dog Democrats. In addition, the reform may be at risk pending the Supreme Court's decision on the individual mandate. Listen to Warren:

Warren: The system is so misdesigned in terms of how big the bills can be and how narrow the protection from health insurance is… There’s a huge amount of financial misery that we have imposed on middle-class American families. And that financial misery stems from the fact that they get sick, and they are are now at risk for losing it all. …We left in place a system where, literally, billions of dollars are drained out to pay for the administrative costs of a health-insurance system, to pay CEO fancy salaries. We take healthcare dollars and spend them over on administration instead of taking all of the healthcare dollars and spending them on the costs of buying the actual healthcare. The message is beginning to leak out: no one is safe. Have health insurance? It'll make you a little safer. But anyone shy of the multimillionaires is just not safe.

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