Subscribe to Dollars & Sense magazine. Recent articles related to the financial crisis. AP: Senate To Drop Public OptionVia Huffington Post. Looks like the insurance lobby wins again.WASHINGTON After weeks of secretive talks, a bipartisan group in the Senate edged closer Monday to a health care compromise that omits a requirement for businesses to offer coverage to their workers and lacks a government insurance option that President Barack Obama favors, according to numerous officials. Like bills drafted by Democrats, the proposal under discussion by six members on the Senate Finance Committee would bar insurance companies from denying coverage to any applicant. Nor could insurers charge higher premiums on the basis of pre-existing medical conditions. But it jettisons other core Democratic provisions in a reach for bipartisanship on an issue that has so far produced little. The effort received a boost during the day from the U.S. Chamber of Commerce, normally a close ally of Republicans. In a letter to committee leaders, the business group called for the panel to "act promptly, preferably before" the Senate's scheduled vacation at the end of next week. In doing so, the business organization dealt a blow to the Senate Republican Leader Mitch McConnell of Kentucky and other GOP lawmakers who have called repeatedly for Democrats to slow down. Read the rest of the article Labels: Barack Obama, health care reform, insurance industry |