The original Build Back Better Act would mandate paid family leave through the Social Security Administrtion at a [10-year] cost of $500 billion. House Ways and Mean Chair Richard Neal has substituted a $600-billion plan that goes through private insurance corps.
“Neal counts insurers like Blue Cross Blue Shield, Massachusetts Mutual, and Pacific Life among his top donors. He is also heavily backed by hospice and home health companies such as Amedisys and LHC Group, which has this year aggressively acquired hospice providers spun off by private equity.
“Sun Life, a life insurance company that also backs Neal, donated to at least nine other members of the Ways and Means Committee during the 2019–2020 cycle. The company has been an enthusiastic supporter of Neal’s plan, appearing in a promotional video alongside Melinda French Gates, the billionaire ex-wife of the Microsoft founder, who met with the White House to argue for paid leave on behalf of her social-impact investment firm, Pivotal Ventures. Sun Life was also featured among a set of stakeholder endorsements Neal’s committee released about the paid leave plan.”
Charlie Cooper
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