| A future presidential candidate, John Edwards, on | | | | impose similar requirements. |
| Thursday proposed cutting health care costs by | | | | His plan also would require that all Americans sign |
| overhauling the patent process for breakthrough | | | | up for health insurance and would enact various |
| drugs and requiring health insurance companies to | | | | reforms aimed at lowering administrative costs |
| spend at least 85 percent of their premiums on | | | | for providers and improving chronic and |
| patient care. | | | | preventive care for patients. About 47 million |
| The former North Carolina senator offered details | | | | people currently lack health insurance in the United |
| of a universal health care proposal he released in | | | | States. |
| February during an appearance at the East | | | | Edwards has faced criticism for his universal |
| Riverside Health Center, a federally funded | | | | health care plan, in part because it would raise |
| community clinic. | | | | taxes and could cost $90 billion to $120 billion. |
| Edwards' plan would offer cash payments in place | | | | Edwards said his health care proposal would save |
| of long-term patents for companies that develop | | | | families up to $2,500 annually. |
| certain breakthrough drugs and then reap large | | | | Edwards said Detroit, where General Motors |
| profits because of the monopolies those patents | | | | Corp., Ford Motor Co. and DaimlerChrysler AG's |
| provide. | | | | Chrysler Group spend $16 billion annually on health |
| He said offering cash incentives instead would | | | | care costs and are expected to pay $114 billion in |
| allow multiple companies to produce generic and | | | | future retiree benefits, is indicative of health care |
| other versions of those drugs to drive down | | | | ailments felt nationwide. |
| prices. Campaign officials said the payments could | | | | "These companies and their unions made a |
| be voluntary for drug companies and would be | | | | promise to workers," he said. "And that promise |
| aimed at spurring the development of drugs that | | | | was that they'd have health care coverage. And |
| cure diseases. | | | | now it's time for the government to meet its |
| "Dealing with the health care crisis is about more | | | | share of the responsibility of ensuring that those |
| than just about coverage," Edwards said. "Our | | | | promises are met." |
| health care system is entirely too expensive. We | | | | Edwards previously has proposed that employers |
| put more money into health care than any | | | | be required to provide health coverage to |
| country in the industrialized world and we get one | | | | workers or pay into a government fund to |
| of the worst products out in the other end." | | | | support insurance and allow workers to choose |
| He also said his plan would require health insurance | | | | among plans. |
| companies to spend at least 85 percent of the | | | | A rival Democratic presidential candidate, Illinois |
| premiums they collect on patient care, adding that | | | | Sen. Barack Obama (news, bio, voting record), |
| 30 percent of insurance premiums currently go | | | | has proposed to provide health care to millions of |
| toward administrative expenses and profit. He said | | | | Americans and more affordable medical insurance, |
| New York, Minnesota, New Jersey, Florida already | | | | financed by tax increases on the wealthy. |