The AP (9/2) reports WellPoint CEO Angela Braly said in speech at the Economic Club of Indiana that by focusing on the insurance industry, those backing health reform are missing "a much bigger target" to lower costs.
"Three cents of every health insurance premium dollar collected go toward insurer profits, while 87 cents go toward medical care," Braly said. And even if insurer's profits are "completely eliminated," the savings will only "pay for two days of healthcare in America."
Braly pointed out that Medicare spending "totaled $468 billion last year" and cited a study, which found that Medicare patients receive "evidence-based medicine, only about half the time. ... This inefficiency, she said, drives up costs and forms the 'crux of the problem.'"
Braly added that she objects to the public option because its low reimbursement rates "would shift costs to private insurers," and families covered by private insurance "already pay about $2,500 per year" to make up for such care "provided by Medicare and Medicaid."
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