Jeff Bingaman United States Senator from New Mexico

WASHINGTON – U.S. Senator Jeff Bingaman today highlighted the importance of passing health insurance reform legislation.

Bingaman is a strong supporter of the Patient Protection and Affordable Care Act being debated in the Senate.  In a speech to his Senate colleagues, Bingaman said the current system is not working.  (Video of speech.)

"It is clear that the U.S. healthcare system is failing many Americans and that the situation is becoming more and more urgent.  According to a study published by Harvard Medical School in August, medical costs have led to almost two-thirds of the bankruptcies in the country, more than 62 percent.  The study found that most medical debtors were well educated, owned homes, and had middle-class occupations.  Shockingly, three quarters had health insurance," Bingaman said.

"And unfortunately, for many individuals, the very high cost of medical care leads them to delay or avoid receiving medical care all together.  The Urban Institute reports that 137,000 people died from 2000 through 2006 because they lacked health insurance, including 22,000 people in 2006.  Clearly, the need for national health reform has never been so great," he added.

Bingaman pointed out that according to an August report by the Commonwealth Fund, nationally, family premiums for employer-sponsored health insurance increased 119 percent between 1999 and 2008, and -- if cost growth continues on its current course -- could increase another 94 percent to an average $23,842 per family by 2020.

Nowhere is the unsustainable growth felt more acutely than in my home state of New Mexico.  Without health reform, New Mexico is expected to experience the greatest increase in health insurance premiums in the nation.

The average employer sponsored insurance premium for a family in New Mexico was about $6,000 in 2000.  By 2006, this rate had almost doubled to over $11,000.  By 2016 this amount is expected to rise to an astonishing $28,000.  In addition, health insurance premiums in New Mexico make up a larger percentage of New Mexican's income than almost all other states, 31.18 percent, and this is expected to grow to an astounding 56.64 percent by 2016.

"The bill we're debating represents true healthcare reform.  It's time for the Senate to put partisanship aside and enact this critical and long overdue legislation," Bingaman said.