“Insurance industry stocks dropping as the Medicare for All movement heats up—we’ve got some serious people power on our hands!” the group tweeted Wednesday.
As Common Dreams reported Tuesday, the insurance stock sell-off intensified after UnitedHealth Group CEO David Wichmann lashed out at Medicare for All during a call with investors, saying single-payer would “destabilize the nation’s health system.”
Medicare for All proponents begged to differ, arguing that the for-profit system—under which 30 million Americans are uninsured and tens of millions more are underinsured—is the actual source of instability and dysfunction.
“As usual, an insurance company CEO has got it backward—Medicare for All stabilizes healthcare for people… and disrupts the failed business model of the insurance industry,” Michael Lighty, founding fellow of the Sanders Institute, told Common Dreams.
During a Fox News town hall Monday evening, Sanders—who unveiled Medicare for All legislation in the Senate—challenged the common insurance industry talking point that Medicare for All would “destabilize” healthcare for millions of Americans who are covered by employer-provided insurance plans.
“Millions of people, every single year, lose their health insurance. You know why? They get fired. Or They quit. And they go to another employer,” said Sanders, a 2020 presidential contender.
“Every year, millions of workers wake up in the morning and their employer has changed the insurance that they have. So this is not new,” the Vermont senator added. “Now what we’re talking about actually is stability. That when you have a Medicare for All [program] it is there now and it will be there in the future.”
Our work is licensed under a Creative Commons Attribution-Share Alike 3.0 License. Feel free to republish and share widely.