Get Wall Street speculators out of our healthcare!

We need a fiscally conservative public option.

Most of the dollars that we send to health insurance companies do not stay there for our healthcare, but are sent to Wall Street and large financial corporations like AIG [the largest recipient of a government bailout in U.S. history],  to be wagered for bigger profits.   The recent collapse of international financial institutions, also damages our nation’s health systems.   Getting Wall Street speculators out of our healthcare is a healthy thing to do.

  We need to make a publicly supported, fiscally conservative, U.S. Treasury-backed system available, for anyone who wants regardless of age.  Medicare, as a choice, for all.  But a fully funded, not a crippled Medicare.  This must be a system that can’t be wounded or exploited by the private bankers/speculators.  Those who are happy with their current health insurance should keep it.

The financial wizards use our 401k/pension fund retirement savings to reinvest in the marketplace. They wanted [fortunately didn’t get] our Social Security funds as well to play with.  They already have our healthcare dollars from our pooled premiums shifted into various investments, and exported to speculative “reinsurance” corporations.

  Get Wall Street speculators out of our healthcare!  Fortune magazine’s review of the 14 major health insurance corporations showed they lost 30% to 40% and more in their operations from the 2007 to the 2008 business years. *

  You and I will pay for financial market loses at least 3 times, once in depleted retirement accounts, again in higher health [and other] insurance premiums, and again in taxes to pay the debt our government incurs for more bailouts of these large financial institutions that have played fast and loose with our healthcare dollars. 

A nation that enriches the most reckless of the rich, is morally bankrupt.  A nation that can spend hundreds of billions for fancy fighter jets and nuclear weapons, but can’t pay to care for its citizens’ health, is physically sick and spiritually dead.

*  http://money.cnn.com/magazines/fortune/fortune500/2009/industries/223/index.html

For an eye opening report on our MI health system by MI BCBS, in their own words, please go to their annual report:  http://www.bcbsm.com/home/bcbsm/annual_report.shtml   Click on “2008 Consolidated Financial Statements,” then on “Discussion of Financial Results.”

For more information:  Michael McCarthy PA-C, mccpax@comcast.net, 810 982 2870, Physician Assistant practicing for 17 years here in Port Huron, in both local public and private health systems.