NEW REPORT: Insurers Pursuing Billions in Medicare Profits Make Big Contributions to Candidates Backing Ryan Budget
Along with Health Care for America Now, Public Campaign Action Fund announced a new report today: "Insurers Pursuing Billions in Medicare Profits Make Big Contributions to Candidates Backing Ryan Budget," which details the huge amount of campaign cash flowing to supporters of the Ryan plan, and how those interests benefit.
From the report:
"For the insurance industry, the political spending is an investment that could reap enormous returns. The market value of Wall Street-run health insurance companies will increase by $12 billion to $25 billion if the Republicans win the Senate and the White House, and by 2030 the industry would post $16 billion to $26 billion in increased annual profits attributable to the Medicare privatization, the report said.
“Americans want quality and guaranteed Medicare, but when we have a Congress on the auction block, they'll put Medicare on the chopping block,” said David Donnelly, executive director of Public Campaign Action Fund. “This report allows voters to connect the dots for themselves by showing the members of Congress who voted for Ryan’s plan to privatize Medicare while scooping up checks from the insurance industry that would benefit.”
The report, along with a complete list of members and their total contributions from the industry, is available online at www.campaignmoney.org/reports/insurance and at http://healthcareforamericanow.org/health-insurance-contributions-to-ryan-budget-supporters/.