Among the top candidates, Senators Hillary Clinton and John McCain, combined, stand to receive more than 40% of healthcare industry contributions. The industry has dumped a total of $12.8 million on 18 Republican and Democratic presidential candidates since 1989. Money to the tune of $3.7 million was spent in the first quarter of 2007 alone. It is not surprising, then, that most candidates are reluctant to face the corporate biggies and uphold reforms that eat into profits.
According to CNA/NNOC President Deborah Burger, political influence blocks bills meant to protect patients from HMO, hospital, or nursing home abuses; creates a larger public oversight of insurers; and facilitates re-import of cheaper drugs from Canada or Europe.
In the past decade, more than $2.2 billion was spent on federal lobbying. At this time, healthcare won the top slot in lobbying expenditures among industry sectors.
The money spent on lobbying hugely benefits the healthcare industry. In April 2007, the Senate voted down a bill to amend the 2003 Medicare drug benefit law to allow Medicare to negotiate lower prescription drug prices for seniors. The final bill directs seniors to go through private insurers if they qualify for the drug benefit. It also bars the government from negotiating discounted prices.
Other findings in the report include the following:
- A number of former government employees are presently working as lobbyists for the healthcare industry.
- Rising political expenditure is proportionate to profits recorded by the healthcare industry. Profits on pharmaceuticals have increased from $64.4 billion in 2002 to $94.8 billion in 2006.
- Banks and financial firms now play a bigger role in healthcare and political contributions. Almost 1,100 banks are currently providing health savings accounts. That number has tripled since 2005.
- One-fifth of adults of working age have a medical debt, while one-fourth of adults have to spend at least 10% of their annual household income on out-of-pocket medical expenses and insurance premiums.
