Health Care Industry Donates More To Obama Than GOP Candidates
President Barack Obama has raised more money from the health care industry than Republican candidates, according to an analysis conducted by the Center For Responsive Politics published in National Journal.
Obama has raised $1.6 million from the health sector, more than the $920,000 raised by former Massachusetts Gov. Mitt Romney and the $494,000 raised by Texas Gov. Rick Perry. Pharmaceutical companies gave Obama $230,000 versus $161,000 for Romney and $43,000 for Perry.
Drug companies won more protections for brand-name drugs against cheaper drugs in Obama's health care reform law. Proposals to have Medicare negotiate drug prices and to allow importation of drugs from Canada did not make it into the final bill. An estimated 32 million new Americans with insurance also means more business for pharmaceutical companies.
America's Health Insurance Plans, the trade association representing the health insurance industry, initially appeared amenable to health care reform. The trade group finally opposed the bill in March 2010, despite the inclusion of an individual mandate requiring individuals to carry insurance or face fines. Insurers gave the Chamber of Commerce over $86 million to oppose the law.
CRP adds that individuals within the health insurance industry gave $111,000 to Romney and $91,000 to Obama this year. The Massachusetts health care law Romney signed as governor contained an individual mandate as well. Romney says he will repeal the health care law the president signed.