Former CA Insurance Commissioner Rep. Garamendi on Republican Plan to Destroy Medicare: This is a Feeding Frenzy for Insurance Industry Sharks
WASHINGTON, DC – Congressman John Garamendi (D-Walnut Creek, CA), who served as California's Insurance Commissioner for eight years, is horrified by the House Republicans' latest proposal to dismantle Medicare. In their budget released yesterday, House Republicans propose replacing Medicare, one of America's most efficient and popular medical delivery system, with an underfunded voucher system, putting greedy for-profit insurers in charge of health care when we retire. Garamendi issued the following statement:
"The House Republican proposal to destroy Medicare is a feeding frenzy for the insurance industry sharks, and every American that has ever hoped to retire with dignity is what's for dinner. The hundreds of billions of dollars in Medicare Americans previously set aside in preparation for our golden years is now being set aside for insurance industry profits.
"Republicans in the House are trying to destroy Medicare – eliminating one of the twin planks of our retirement security. I do not understand why anyone with the public interest in mind would sabotage an effective, efficient, affordable, and popular program.
"If this becomes law, all American seniors will be forced to choose between higher premiums, substantially less coverage, or no coverage at all. If you're an adult who has been paying into Medicare all your life, House Republicans are telling you, 'Tough luck; we are no longer concerned about your health when you retire.'
"To responsibly reduce the deficit, we must address runaway health care costs. Instead of controlling costs, this GOP budget merely shifts the burden onto economically vulnerable seniors.
"By contrast, the Affordable Care Act has many provisions that will slow the rise in health care costs for both private and public health services. Unfortunately, the Republicans want to repeal these necessary cost controls while simultaneously destroying Medicare. The Republican budget plan is simply unhealthy for America.”