Pledge to help lower health care costs expected - WKOW 27: Madison, WI Breaking News, Weather and Sports

Pledge to help lower health care costs expected

WASHINGTON, D.C. (WKOW) -- Key players in the health care industry expected to announce they will take steps to slow rates.

President Barack Obama's plan to provide medical insurance for all Americans is said to be a step closer to reality.

Leaders of the health care industry are offering $2 trillion in spending reductions over 10 years to help pay for the program.

Hospitals, insurance companies, drug makers and doctors plan to tell Obama tomorrow they'll voluntarily slow their rate increases in coming years. Government economists say the move would create breathing room to help provide health insurance to an estimated 50 million Americans who now go without it.

Six major groups plan to deliver a letter to Obama and pledge to cut the growth rate for health care by 1.5 percentage points each year, according to senior administration officials. They spoke on the condition of anonymity in order to sketch the offer before full details are revealed at a White House event scheduled for tomorrow.

Powered by Frankly