Jayapal (D) Touts Health Insurance Stocks Sinking From Increased 'Medicare for All' Push

February 28, 2019

Rep. Pramila Jayapal (D., Wash.) on Wednesday night celebrated the stocks of health insurers taking a dive due to an increased push for "Medicare for all."

Jayapal, who introduced  the Medicare for All Act of 2019 on Wednesday, spoke at a progressive Busboys and Poets town hall in Washington, D.C. alongside Democratic Reps. Rashida Tlaib (Mich.), Ilhan Omar (Minn.), and Mark Pocan (Wis.). During the town hall, they discussed several issues, including the push for "Medicare for all."

"On the way over here—you'll be the first ones to hear this. My comms director showed me an article and it said health insurance stocks dive because of the increased push for 'Medicare for all,'" said Jayapal, as the crowd erupted with cheers and clapping.

Jayapal went on to say the crowd was part of a "strong movement" and they will win because of their optimism and unity.

"Nothing in this country has ever been easy, but what we know is, as optimists, we know that courage is what comes in times of crisis," Jayapal said. "As organizers we know it's when we stand together that we win. And when we are strong in the face of opposition, that is really the ultimate test of our strength, our power, our unity, and our moral conscience."

The headline Jayapal touted was most likely referring to a piece on Bloomberg's website. While the piece says stocks could have sunk due to a highly-anticipated drug pricing hearing earlier in the week, it also mentions the impact of the "Medicare for all" bill that would "replace almost all private plans."

Sen. Kamala Harris (D., Calif.), who is running for the Democratic presidential nomination, said in late January she supported eliminating private insurance.

"Well, listen, the idea is that everyone gets access to medical care, and you don't have to go through the process of going through an insurance company, having them give you approval, going through the paperwork, all of the delay that may require. Who of us has not had that situation where you've got to wait for approval, and the doctor says, ‘Well, I don't know if your insurance company is going to cover this.' Let's eliminate all of that. Let's move on," Harris said.

Sen. Sherrod Brown (D., Ohio), who has floated a potential presidential run, said last month he stands with Harris's position.