As Congress on Wednesday held its second hearing on “Medicare for All” proposals, Massachusetts Democratic Rep. Seth Moulton made it clear he’s not a fan of moving to a single-payer model for health care.
Moulton — one of two dozen politicians running to become the Democratic Party’s 2020 presidential nominee — said there only should be a “public option,” rather a government-run plan that replaces our current health-insurance system.
The long-shot presidential candidate brought in the U.S. Postal Service, FedEx FDX, -3.16% and UPS UPS, -1.46% to help explain his objections:
“I don’t think the American public would be thrilled if the new president and the new Congress came in and said, ‘You know, we’re just going to put FedEx and UPS out of business because we don’t like that competition in the postal system.’ No, competition is good. Just like we have options for delivering packages, I think we should have options for delivering health care.”
Moulton, a former Marine who served in Iraq, previously has voiced his opposition to “Medicare for All,” citing problems that he has experienced with his care from the Department of Veterans Affairs.
The congressman’s comments on Wednesday came at a House Budget Committee hearing titled “Key Design Components and Considerations for Establishing a Single-Payer Health Care System.” It followed the first-ever Capitol Hill hearing on “Medicare for All” that was held on April 30 by the House Rules Committee.
Analysts had said the selection of the rules panel last month represented an effort by top Democratic lawmakers to sideline the issue. On Wednesday, analysts again questioned Medicare for All’s prospects.
“Although many in the media and progressive advocates are portraying today’s hearing as another step forward for the concept of single-payer, we do not believe that this is the case,” said Beacon Policy Advisors analysts in a note. “We believe that House leadership is merely paying lip service to this concept because it is helpful in keeping harmony among the often-divided Democratic caucus.”
Related: What ‘Medicare for All’ would do to the health-care sector
And see: How Bernie Sanders says he would fund ‘Medicare for All’
Shares in health insurers have been lagging the S&P 500 this year, hurt in part by Medicare for All concerns. UnitedHealth Group UNH, -0.06% is roughly flat in 2019, while Cigna CI, -2.00% and Humana HUM, +1.12% are down by 20% and 10%, respectively. The S&P 500 is up 14%.
Hedge funds have moved into health-care stocks in the first quarter, even as some investors worry about Medicare for All and other efforts in Washington that target the health-care sector.
Add Comment