Blake Moore: “Health care costs are a crisis in every American family. Every family is one surgery, one heart attack, one cancer…”

“Health care costs are a crisis in every American family. Every family is one surgery, one heart attack, one cancer diagnosis, one aging spouse away from financial ruin. But health care costs are also a crisis for business, both small and large. General Motors pays more for health care than for steel. That is why the Affordable Care Act is needed, to bend the health care cost curve downward for all American health care consumers. Americans, including those who are consumers of Medicare and Medicaid, simply cannot afford the insurance and drug companies' runaway profits. These companies are reaping record-breaking profits. In 2009, while we were debating the bill, the Nation's five largest for-profit health insurance companies saw a combined profit of $12.2 billion, and that's just for five companies. Their executives did well, too. The top execs at these companies pulled in almost $200 million in compensation. At the same time, there were double-digit premium increases. So no matter where you get your health care, through Medicare, Medicaid, your employers's policy, wherever you get it, you can't afford that kind of rate increase year after year. These rates are going up faster than any other part of the family budget. For many people, these costs are crowding out housing and other basic needs. In 2009, the top 10 pharmaceutical companies made over $60 billion in profits, and the profit margin in this industry is out of control.…”