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Health insurers, drug companies pump up lobbying activity

Wednesday, June 17th, 2009
Author : 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.


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