CNBC Press Releases

ERIN: AND I THINK IT'S INTERESTING YOU'RE TALKING ABOUT THE SMALL BUSINESSES, TOO, SINCE MR. DONAHUE'S IN THE CHAMBER OF COMMERCE WAS JUST TALKING ABOUT THE 20 MILLION SMALL BUSINESSES OUT THERE. LET ME ASK YOU ONE OTHER QUESTION, SENATOR CLINTON.

I WAS TALKING TO FRANKLIN RAINES THE FORMER CHIEF AT FANNIE MAE, HE SAID ONE OF THE BIGGEST IF HE IS QUESTIONS FOR YOU, WAS ALL RIGHT, WE UNDERSTAND WE NEED TO PROVIDE HEALTHCARE, BUT WE'RE CONCERNED ABOUT WHO DECIDES WHAT IS AN ACCEPTABLE HEALTHCARE PLAN, WHAT IS A FAIR PRICE FOR DRUGS. IS THERE SOMEONE WHO IS GOING TO BE MAKING THAT DECISION AND IF SO, IS THAT SOMEONE IN THE GOVERNMENT?

CLINTON: WELL, IF YOU LOOK AT THE WAY THE CONGRESSIONAL PLAN OPERATES NOW, THERE ARE MORE THAN 250 CHOICES AVAILABLE TO MEMBERS OF CONGRESS AND OTHER FEDERAL EMPLOYEES. IT'S A LOT CHEAPER THAN IF YOU'RE WORKING FOR A COMPANY THAT DOESN'T HAVE A LOT OF BARGAINING POWER OR IF YOU GO INTO THE INDIVIDUAL MARKET. WE'RE GOING TO OPEN THAT UP TO EVERYBODY, ANYTHING BUSINESSES IF THEY SO CHOOSE. SO, THE COMPETITION THAT WILL BE AVAILABLE THROUGH INSURANCE COMPANIES NOW COMPETING ON COSTS AND QUALITY, I THINK, WILL GIVE A MUCH BETTER DEAL THAN WE CAN CURRENTLY GET. NOW, I'M GOING TO CHANGE THE WAY INSURANCE COMPANIES OPERATE BECAUSE WE CAN'T AFFORD IT ANYMORE. YOU KNOW, WE'RE LETTING ONE BUSINESS, NAMELY, HEALTH INSURANCE, DRIVE EVERY OTHER BUSINESS TO INCREDIBLE LENGTHS, TRYING TO FIGURE OUT HOW TO AFFORD HEALTHCARE FOR THEIR EMPLOYEES, OR JUST GIVING UP ENTIRELY. WHAT I AM OFFERING THE HEALTH INSURANCE INDUSTRY IS A DIFFERENT BUSINESS MODEL. WE'RE GOING TO ASK YOU TO GUARANTEE COVERAGE TO EVERYONE, INCLUDING PREEXISTING CONDITIONS AND WE'RE GOING TO ASK YOU TO COMPETE ON COSTS AND QUALITY. AND LET ME JUST GIVE YOU ONE FACT, LAST YEAR, THE AMERICAN HEALTH INSURANCE INDUSTRY SPENT 50 BILLION DOLLARS TRYING TO AVOID COVERING PEOPLE. THAT MEANT THAT THEY DIDN'T GIVE PEOPLE INSURANCE IF THEY HAD A PREEXISTING CONDITION. THAT MEANT THAT THEY DROVE EXCESSIVE COSTS IN THE HEALTHCARE SYSTEM AND BUSINESSES HOSPITALS, DOCTOR'S OFFICES BY ARGUING ABOUT WHETHER OR NOT THEY WOULD PAY FOR SOMETHING THAT SOMEONE THOUGHT WAS COVERED BY THEIR INSURANCE. IF THEY TOOK THAT 50 BILLION DOLLARS AND INSTEAD OF TRYING TO PLAY GAMES TO ELIMINATE PEOPLE'S COVERAGE AND INSTEAD PUT IT TO WORK TO COVER PREVENTION, TO DO BETTER CHRONIC CARE MANAGEMENT, WE WOULD BEGIN TO GET COSTS DOWN. SO, I THINK WE'RE GOING TO HAVE A CHOICE TO MAKE AND THE CHAMBER OF COMMERCE AND THE BUSINESS ROUND TABLE AND ALL OF THE BUSINESS EXECUTIVES ARE GOING TO HAVE TO ASK THEMSELVES, DO WE WANT TO CHANGE THE MODEL OF ONE BUSINESS THAT CAN STILL STAY IN BUSINESS, STILL BE COMPETITIVE, STILL MAKE A PROFIT, BUT THEY'RE GOING TO HAVE TO COMPETE ON COSTS AND QUALITY, OR DO WE WANT THEM TO CONTINUE TO DRIVE UP THE COSTS OF DOING BUSINESS IN AMERICA, LEADING TO MORE UNINSURED AND UNDERINSURED AND THE LOSS OF JOBS? I THINK THE ANSWER TO THAT, FROM WHAT I HEAR BUSINESS EXECUTIVES SAYING, YOU KNOW, WE NEED TO TRY SOMETHING DIFFERENT AND AF HE COME FORWARD WITH A MODEL THAT IS BASED ON COMPETITION AND CHOICE AND I THINK IT ANSWERS THE NEED THAT'S OUT THERE.

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