FILE - In this July 30, 2019, file photo, Sen. Bernie Sanders, I-Vt., speaks during a Democratic presidential primary debate in Detroit. Sanders and other progressives seeking the Democratic presidential nomination are zeroing in on pharmaceutical and insurer profits, money they say would be better spent providing health care for everyone under “Medicare for All.” But research by The Associated Press suggests those dollars might not go so far. (AP Photo/Paul Sancya, file)

Democratic hopefuls take aim at insurer and pharma profits

August 11, 2019 - 6:40 am

WASHINGTON (AP) — Sen. Bernie Sanders and other progressive Democratic presidential candidates are zeroing in on pharmaceutical and insurer profits, money they say would be better spent providing health care for everyone under "Medicare for All."

Health care dollars from government programs, employers and families that are going into the pockets of investors instead could be used to pay for services. Sanders says if people want a health care system that won't bankrupt them, the answer is to get rid of profiteering by drug companies and insurers.

But research by The Associated Press suggests those dollars might not go so far. The AP found about $97 billion in profits last year by major companies. That wouldn't even cover a couple of weeks in a health care system that costs $3.6 trillion a year.