Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Life Health > Health Insurance

Senate Finance Rejects Public Healthcare Plan Option

By Melanie Waddell

X
Your article was successfully shared with the contacts you provided.

The Senate Finance Committee on September 29 shot down the controversial healthcare reform initiative of creating a public option health insurance plan to compete with private insurance companies.

The first rejection of the public option in the Senate was over an amendment to the healthcare overhaul legislation put forth by Senator Jay Rockefeller (D-West Virginia), who is one of the lead Senate supporters of creating a public option. The amendment failed by a vote of 15 to 8. More public option amendments will be up for vote, however.

In a statement issued on September 25, Rockefeller, who is chairman of the Senate Finance Subcommittee on Health Care, said that “the bottom line is we need a public insurance option because it will drive down private insurance costs and help make health insurance affordable.”

Senate Finance Committee Chairman Max Baucus (D-Montana) wants to have the healthcare reform bill marked up and out of his committee by October 2.

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.