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President Obama gone back to school to rally support for health care reform of the scene the University of Maryland while in Washington still no agreement.
On a bipartisan plan for Health Care Reform joining me now.
-- the Obama administration's appointment to sell Health Care Reform -- business commerce secretary Gary Locke secretary thank you for speaking with fox business and Acer.
Thank you very much here you -- very interesting op Ed in the Wall Street Journal last month and you may have variation point but I wanted to follow up on that you say basically.
That the real horror story is not what Health Care Reform is gonna bring -- this nation what's already happening what does -- mean by that.
With the status quo is crushing American companies so just last year alone.
The cost of premiums two a small and medium size companies -- grew at the rate of 15%.
And several companies that I've talked to -- the last couple months of reported that their health insurance companies are.
Wanting to charge them 27 to 30%.
More for exactly the same coverage for the same number of employees.
That's crushing American companies and if we want our companies to sell their goods and services here -- as well as abroad.
In competition with companies from around the world.
We've got to get -- handle on health care cost it's bankrupting.
Families businesses and even governments just in the last ten years alone the health care cost a small businesses has doubled its expected to double if not triple in the next ten years.
What do you think the administration and congress and in senator baucus cannot answer is.
You all seem to have no idea how many small business that given the option of putting their employees into an exchange a co -- a public option what -- this is going to be called.
You you don't really know how many small business owners are gonna say OK fine I'd -- -- -- tax.
The 8% surtax.
Then have to provided the health care coverage my employees how do you contend housing administration contend without another factor.
Well first of all under the president's plan small businesses which make up 95% of all the workers in America small businesses.
We that that means -- businesses with less than fifty employees would not be required to offer health care insurance to their employees but if they do.
They would be Belgium most of on virtually all of them would be eligible for a 50% tax credit.
Now the companies don't offer health insurance even with this tax credit.
Then their employees can join this exchange and even the small companies can join this exchange is almost like becoming part of -- a large group for an association.
So they tend.
I get the same savings and lower cost for health insurance premiums that the large corporations are able to get.
By virtue of their purchasing power.
Because we know that a lot of small businesses that pay up to 20% more than large corporations for exactly the same coverage for those employees.
So we need to give those small businesses kind of a pooling purchasing power equal and on par with the large companies.
Let me ask you this and be one of -- -- senator baucus is plan one of the idea that he's floating is to maybe make cuts major cuts to Medicare.
And then also assess fees on.
Businesses the businesses you know very well in particular the health insurance companies six million just a health insurance companies.
Device makers another four billion and -- that stifle competition.
In that industry.
No not at all because for instance with respect to the insurance companies that now offer.
Medicare Advantage they're offering the same benefits as the strictly government Medicare plan.
But wise -- the insurance companies who all along we're supposed to be able to deliver Medicare at a cheaper price more efficiently and more cost effectively than the government.
Why is -- that they're getting tens of billions of dollars of subsidy.
To run the very same program that the government offers when they were supposed to be able to do -- cheaper second of all the plan calls for tax on.
The Cadillac plans that companies might be offering their employees.
And we really believe that some of the taxes and even some of that the entities that would be subject to these increase fees and taxes support it because they know that.
That whatever fees or taxes they may pay will be offset.
By additional business and profits they'll make when we cover more Americans.
Throughout the entire country.
Is the president putting has political capital.
Behind Max Baucus is planned.
No at this point the president is still wants to see all the different committees from the house in the senate.
And they're now with the senator baucus is planned to committees and senate have now a proposed health care legislation they're all gonna start the mandatory process we're Democrats or Republicans will be offering amendments.
-- -- final product could be significantly different from what senator baucus has proposed.
But the president very much wants a bipartisan plan is hoping for bipartisan support that's why he has embraced.
Us even Republican proposals a proposal.
First advanced by President Bush.
Tort reform malpractice.
Demonstration projects among the states and today the president.
Authorized and instructed.
The health and human services director secretary Kathleen Sebelius.
Two start these demonstration projects in the states commerce secretary Gary Locke thank you first bacon with fox business and it's our.
Thank you very much -- to have you back.
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