Health insurers, drug companies pump up lobbying activity
Wednesday, June 17th, 2009Author : Biz2Credit Advisor
As Congress begins the debate on health care reform, health insurers and drug companies stepped up lobbying by 41 percent this year, according to USAToday.
Spending on lobbying dropped overall this year, but an investigation by USAToday found that 20 of the largest health insurance and drug companies spent nearly $35 million in the first quarter of 2009, up more than $10 million from the same period last year.
Insurance and drug companies oppose several aspects of President Barack Obama’s health care plan, especially government-run health insurance coverage. Those groups argue that public insurance will discourage competition and limit consumer choice.
Pfizer, Health Net, Cigna, Pharmaceutical Research and Manufacturers of America and Merck increased spending the most.
Groups that support public insurance fear that a health care reform bill will stall in Congress because of the huge amount of money industry interests are spending to influence legislators.
This article was submitted by Katie Kapler, Director of Online Strategy for Biz2Credit. Biz2Credit is a small business marketplace that connects entrepreneurs with financing options and advice to grow their business. Send all questions to katie.kapler@biz2credit.com.
Tags: drug companies, government-run health insurance coverage, health care reform health insurers, lobbying, Merck, Pfizer Health Net Cigna Pharmaceutical Research and Manufacturers of America, President Barack Obama’s
