Senate Proceeding on Oct 22nd, 2009 :: 8:26:25 to 8:28:40
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8:26:21 to 8:26:42( Edit History Discussion )

Sherrod Brown: what the public option does is it drives the premiums -- it puts competion into the market. it drives the costs down. mr. brown: when you see -- if you put that chart back up. when you see these companies, the publicly traded health in increase in profits -- i don't mind if they have an increase in

8:26:25 to 8:28:40( Edit History Discussion )
Speech By: Sherrod Brown

8:26:43 to 8:27:04( Edit History Discussion )

Sherrod Brown: profits if they weren't doing it on the backs to deny care to people with preexisting conditions, i wouldn't mind if it wasn't on the backs of people who put caps on their coverage so that even though they bought their insurance that they spent a lot of money, the of money and all of a sudden they lost their insurance.

8:27:05 to 8:27:26( Edit History Discussion )

Sherrod Brown: you also see at the bottom there, made $117 million -- i rember talking the c.e.o. of aetna made $24 million. the c.e.o. -- 10c.e.o., that's 1.8 million each.

8:27:27 to 8:27:47( Edit History Discussion )

Sherrod Brown: the aetna guy drives up the average, but they're all making $6 million, $8 million. i assume what's happened in the last decade and part of reason for that huge incase is that there are fewer and fewer of these companies dominating the market. i -- i assume -- i'm asking, i guess, 10 years ago there was

8:27:48 to 8:28:09( Edit History Discussion )

Sherrod Brown: probably more competion in this market than there is now. so we're seeing the number of companies shrink their share increase and that's an even stronger case for the public option. i guess the strongest case for the public option is, frankly, how much the insurance companies ha there's really nothing they're imposing more

8:28:10 to 8:28:31( Edit History Discussion )

Sherrod Brown: bill than the public as unhappy as insurance companies are with any change, because they love the system the way it works. they love have preexisting condition denials, they love their caps, they love being able to discriminate. the whole business model, it seems to me, with the insurance companies, keep people from getting sick getting insurance and hire a bunch of bureaucrats

8:28:32 to 8:28:41( Edit History Discussion )

Sherrod Brown: to try to spend time on the phone denying care, denying reimbursement or denying payments, claims get sick that are their customers.