Sherrod Brown: “I think it is intriguing what the gentleman from Maine (Mr. Allen) is saying about the whole Medicare structure and how…”

“I think it is intriguing what the gentleman from Maine (Mr. Allen) is saying about the whole Medicare structure and how my friends on the other side of the aisle and President Bush, in large part at the behest of the insurance industry, which sees huge profits in this Medicare bill, say that they want to privatize it. One of the most important facts about Medicare public versus a private insurance HMO Medicare is administrative costs. Traditional Medicare, the Medicare that we know, that 85 percent of America's seniors are enrolled in, has about 2 percent administrative costs, while private insurance has administrative costs averaging between 15 and 20 percent. So no wonder if we have privatized Medicare, it will cost taxpayers more, yet Medicare beneficiary seniors will actually get less.”