Health Care Express

Now that the House has reached a compromise on health care, we can all breathe easier.

That’s the theory, anyway. Congress believes that having portable health care that competes with insurance companies will enhance our productivity by freeing up workers who might not change jobs or start new ventures because they might not get health insurance But a major issue is preserving innovation. Our health care companies have been the most innovative in the world. Indeed, 14 of the world’s 20 biggest health care companies are American. Because competition provides significant financial incentives, new drugs, new devices, and new procedures are developed here first. That’s why rich people fly to America to get advanced treatment.

It’s not clear how the cost-trimming, public option, insurance mandating house bill will do this. If we squeeze our health providers to provide for the uninsured, they may just shrug their shoulders and walk away. And that won’t be healthy for anyone.

Douglas R. Tengdin, CFA
Chief Investment Officer
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By | 2014-09-04T19:20:07+00:00 July 29th, 2009|Global Market Update|0 Comments

About the Author:

Mr. Tengdin is the Chief Investment Officer at Charter Trust Company and author of “The Global Market Update”. The audio version of each post can be heard on radio stations throughout New England every weekday. Mr. Tengdin graduated from Dartmouth College, Magna Cum Laude. He received his Master of Arts from Trinity Divinity School, Magna Cum Laude and received his Chartered Financial Analyst (CFA) designation in 1992. Mr. Tengdin has been managing investment portfolios for over 30 years, working for Bank of Boston, State Street Global Advisors, Citibank – Tunisia, and Banknorth Group. Throughout his career, Mr. Tengdin has emphasized helping clients manage their financial risks in difficult environments where they can profit from investing in diverse assets in diverse settings. - Leave a comment if you have any questions—I read them all! - And Follow me on Twitter @GlobalMarketUpd

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