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Oct-14-2009 23:03printcommentsVideo

Senate Finance Committee Votes to Approve Health Insurance Reform

President Obama offers remarks on the historic moment.

President Barack Obama
President Barack Obama

(WASHINGTON D.C.) - These are the words of President Barack Obama regarding the Senate Finance Committee's vote to approve Health Insurance Reform.

THE PRESIDENT: Good afternoon. Today we reached a critical milestone in our effort to reform our health care system. After many months of thoughtful deliberation, the fifth and final committee responsible for health care reform has passed a proposal that has both Democratic and Republican support. This effort was made possible by the tireless efforts of Chairman Max Baucus and the other members of the Senate Finance Committee. It's a product of vigorous debate and difficult negotiations.

After the consideration of hundreds of amendments, it includes ideas from both Democrats and Republicans, which is why it enjoys the support of people from both parties. And I want to particularly thank Senator Olympia Snowe for both the political courage and the seriousness of purpose that she's demonstrated throughout this process.

Now, this bill is not perfect and we have a lot of difficult work ahead of us. There are still significant details and disagreements to be worked out over the next several weeks as the five separate bills from the Senate and the House are merged into one proposal. But I do believe the work of the Senate Finance Committee has brought us significantly closer to achieving the core objectives I laid out early in September.

Most importantly, this bill goes a long way towards offering security to those who have insurance, and affordable options for those who don't. It reins in some of the worst practices of the insurance industry, like the denial of coverage due to preexisting conditions. It also sets up an insurance exchange that will make coverage affordable for those who don't currently have it. And as the nonpartisan Congressional Budget Office has certified, it will slow the growth of health care costs in the long term and it will not add a penny to our deficit.

The committee's progress over the past several weeks is the culmination of work by all five committees and numerous members of Congress over the better part of this year. We've reached out to stakeholders across the spectrum -- doctors and nurses, businesses and workers, hospitals and even drug companies. And we've considered a wide variety of ideas and proposals in an effort to find common ground.

As a result of these efforts, we are now closer than ever before to passing health reform. But we're not there yet. Now is not the time to pat ourselves on the back. Now is not the time to offer ourselves congratulations. Now is the time to dig in and work even harder to get this done. And in this final phase, I hope that we will continue to engage each other with the spirit of civility and seriousness that has brought us this far and that this subject deserves.

I commend the Chairman and the committee's members for their achievement and the example that they've set, and I look forward to continue to work with Congress in the weeks ahead. We are going to get this done.

Thank you very much, everybody.

(The President's remarks were made at the Rose Garden)

Here is a video posted by the White House:

Video




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B Cooper October 15, 2009 12:42 pm (Pacific time)

Very remote chance the public option will pass. This latest senate vote did not include any "legislative language" the CBO (Congressional Budget Office) needed to properly score the bill. I expect as it goes through different legislative processes it will get very expensive and that may negate it's passage. We need to have the Trial Lawyer's Association get some skin in the game to help offset future costs and maybe get some meaningful reform. In terms of the current house bill you can count on taxes being raised and eventual demand greater than supply, which will also throw a monkey wrench in the process. Once the CBO starts scoring the "real" projected costs it will have to be pared down to have any hope of getting anywhere.


Mike October 15, 2009 12:39 pm (Pacific time)

I am a health insurance agent in Utah and run two websites that sell insurance www.benefitsmanager.net and www.dentalinsuranceutah.com. I mention this because in Utah it would be great to have a guaranteed public option to put people that the private insurers will decline for health conditions. Plus the way Weiner discribes the public option, it will be priced competitively. So what this means in my industry (I've been at it 18 years) is that all my unhealthy clients that get charged more or declined can be put onto the public option now. All my healthy clients can stay on the private option. Hmmmmm follow me yet???? How long can the public option stay affordable?? Who is going to pay for the losses of a big sick pool of people....taxpayers?????


"Skipper" Osborne October 15, 2009 7:13 am (Pacific time)

Thank you Senate Finance Committee. Time is getting close to all un-insured Americans to get health care.

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