Last week, health insurers and other industry officials turned in their homework to the Obama administration: their proposals for trimming $2 trillion in costs from the nation's bloated health care system.
Although officials get a gold star for turning the assignment in on time, the "show your work" portion left much to be desired -- several hundred billion, specifically.
The five industry groups and one labor union submitted proposals they say will save $1 trillion to $1.7 trillion in health care costs over a decade. Among their fixes, according to the Associated Press:
* $150 billion to $180 billion from more efficient use of health care services.
* $350 billion to $850 billion from better managing chronic diseases.
* $500 billion to $700 billion through administrative improvements.
Interesting, and perhaps even accurate. However, the plan seems to lack specifics on how to achieve such savings in these areas, nevermind how carriers themselves might cut their costs. Could be that just might get them the extra hundreds of billions they're missing.
