Former
AIG boss Hank Greenberg has officially endorsed Jeb Bush for president of the United States.
In an interview last week with Bloomberg, Greenberg confirmed that he and Bush met for coffee on Thursday morning at the offices of CV Starr & Co., where Greenberg works as chairman and chief executive. The long-time insurance veteran has committed to financial support for Bush’s campaign, both directly and through Bush’s super-PAC Right to Rise USA.
Greenberg says he supports Bush’s positions on immigration, increasing economic opportunity for families and a strong US presence in the international community – views he says are not markedly different from his own.
“Does he have the flair others are looking for? No, but that’s not what you judge a candidate on,” Greenberg told Bloomberg. “You judge him on his competence, and he got the job done in Florida.”
Greenberg backed Republican Mitt Romney in the previous presidential election with a $15,000 donation to a group supporting the former Massachusetts governor’s bid. Over the past two decades, the 90-year-old Greenberg has given more than $300,000 to federal candidates.
Arguably the most important insurance this election cycle is the future of the Affordable Care Act. Bush has not made ACA repeal part of his campaign strategy and has even publicly decried the repeal effort. Scott Walker, however, hopes to repeal the ACA along with the individual mandate and give tax credits to all Americans without access to employer-provided healthcare, regardless of income.
Donald Trump has also hinted at his plan for the health insurance industry – negotiate with hospitals to provide service to the poorest 25% of the population at the government’s expense, with the remainder of Americans on private plans and able to negotiation with insurance companies for lower prices.
On the other side of the political spectrum, Democrat Hillary Clinton promises to continue enforcing the ACA and even build on it.
Clinton hopes to create a process for states that don’t have the authority to block health insurance premium increases in order to stop “unreasonable” rate hikes. Insurers would also be required to give patients three annual sick visits to their doctor without meeting their deductible first. Finally, Clinton proposes a family tax credit worth as much as $5,000 to help Americans pay for out-of-pocket healthcare costs.
