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Clear up some confusion over statements made by the president yesterday at a health care rally in Philadelphia.
So about projected savings from Health Care Reform.
Our cost cutting measures mirror most of the proposals and the current senate bill which reduces most people's premiums.
And brings down our deficit by up to one trillion dollars over the next decade because we're spending our health care dollars more wisely.
Those are my numbers they are the savings determined by the Congressional Budget Office.
Which of the nonpartisan independent -- three of congress for what things cost.
Fox news's Major Garrett reporting White House officials say the president meant to say the senate bill would save a trillion dollars in the decade starting in 20/20.
Over this -- -- the reform is estimated to save 132 billion dollars the CBO warns there are still some uncertainties in even their projections.
At the same health care rally the president went on the attack against health.
The president claims insurance companies put profit ahead of their patients by raising premiums higher every year health and human services secretary Kathleen Sebelius.
Also putting the pressure on health insurers she has sent letters to those companies including Aetna and WellPoint.
Asking for details about cost and enrollment charges.
In order to justify their rate increases to be alias and House Speaker Nancy Pelosi.
Will be talking about Health Care Reform at a conference in Washington DC later this morning.
For an instant on and on this let's go to Fox Business contributor Charles -- and Bob -- and Charles let's start with you -- just a question -- -- really know how to answer it.
Health Care Reform the impact.
On the stocks of health insurers and any angle either way with -- -- gonna have potentially millions more people forced into the private health insurance world but on the other you're gonna have.
Caps on insurance and and quotas on what insurers can make all on the premium or where -- it.
Play out was practicing because in -- president's -- he did slip that in there that.
That more -- -- he would be able to dictate pricing and I think that's sort of scared took a little bit of the bloom off the rose certainly sells insurance documents super hot.
When it was more or less decided.
As a foregone conclusion that would be a public option but.
If the president or you know the the government has the option to to limit what they can make.
That does change that in just a little bit so it does it becomes a little bit more of -- hairy situation for them and picking up -- -- and throwing into question that you Bob first there's been a lot of consolidation in the insurance world and then health insurance will would we still see that with Health Care Reform and second.
When you -- the CBO's say you can't you know even our numbers you know every ten years who knows.
It's a very reassuring which would you like to tackle first on that.
Well I think -- CDO simply things something that obviously rack look into the future like that -- -- now I think that when it comes to.
It's kind of reform kind of rein in the insurance companies out obviously they administration have to be in a position to.
Bargain overpriced to me what one of the things that has always upset me the most is that -- look for for you can't separate official web feature Sharif from what.
The drugmaker -- try to -- this is all part of that said.
I have very complicated history and now the drugmaker is actually provide.
Lower prices to people overseas central Americans because we wind up paying.
The high first cost them and they get the pay about the lower second generation costs -- about amber 'cause in the overhead.
I -- think you're the president landed in a position to.
Control some of that pricing.
And so you sort of do that by putting pressure on insurers who put you know pressure back down on the drug makers and you know it's an industry rat problem without most are talking about insurance company you can't just squeeze the middleman.
You've got to really go after the fundamental producer went -- -- -- But -- if you squeeze the middleman.
The way that costs get passed up in an inflationary environment when the costs get passed down if there's is their first couple wide enough margin to squeeze.
Out some of the excess if they put pressure on the future.
This is I think debate -- hard to -- because when you look at that you know when -- cut to the case cut for the middle and go to the drug makers.
The drug makers are not outrageously profitable but people look at them fail they charge this they charge that look at them the profits are not.
Outrageous but of course what they've got a lot of -- Indian a lot of accounting expenses they can amortize amortized you know that the failed experiments.
Those costs get passed on to the successful drops.
And so as -- very difficult issue to answer because you want you don't wanna stop buying -- On the other hand.
Is there are counting stuff going on here that masks you know.
Like a Hollywood box office accounting yeah -- that kind of accounting so it's it's it's a very complicated question that.
The one thing that's what bothered me is the fact that you can get.
Drugs made by US companies in Canada cheaper than in the US.
And know you've got to stop inconsistencies like Batman -- I firmly believe that there are ways to.
The make changes I think that you know to -- wellness care as one of the big problems it is just that you want to.
Contain the costs you need to change the way the services provided.
And that people are healthier if you give people better information that they know how to take care of their of their own health it will be better enable use fewer medications.
The problem right now and I just think they're just really medications being being proposed for people.
And so it really isn't.
And it turns everything part of that because the drug companies sell me insurance companies like not just about everybody else taking -- that.
Right because it's supposed to be good and it's supposed to get in and and it made it took two weeks everybody was picking -- -- Directives that I'm not I am now yeah that's that's about yeah.
These medications are supposedly blood pressure and get things lower.
Let's get back to the insurance companies is it fair to beat up on the -- bottom line.
Yeah it just saying it would help we -- company we've had the former C.
We one of the guys -- anthem WellPoint.
And it seems like it's it's just in within that whole sphere.
The insurance companies have thrown -- doctors on the bus.
I think some doctors -- on the -- the drug companies under the bus and now.
And what sort of pointing the finger at each other.
There's a lot of inflation built them there I mean just starting with the education alone so it's gonna take 300 great work that loans -- loans right and then another 150 grand and interest on them.
-- I don't want to make 60000 -- there.
You know it's so we start from that premise and then we built it up.
It's a tough situation and I think what the problems is that we're going at this seeking a bill.
And I think that's unfortunate yesterday when a -- to me it would hurt the president when he speaks about.
Insurance companies putting profits over patients.
You know when you start making profits that evil thing I get scared even if what you're saying it didn't give whatever and everything else is saying might be right.
I think I'm afraid because then you could apply that any industry.
And ultimately might apply the might -- history so it.
This -- because they are trying to apply to your industry get a little -- -- kotsay and it's just.
-- back to leave it there it and since everyone's being thrown under the bus without Health Care Reform perhaps have been known to treat the insurance companies and the doctors and the orbit about the -- of the injured after being thrown at them.
The bus what I wanted to get Viagra Charles.
It will be -- okay we're gonna take us.
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