Insurance: Partnership of Promise

When medicare was still in the talking stage, most insurance companies protested that the Federal Government was proposing a massive raid on their territory. Once they found that they couldn't lick medicare, many insurance men decided to join it. For months, dozens of private companies have been competing for one-year renewable contracts, under which they would become "fiscal intermediaries" between the Government and the nation's 6,471 registered hospitals when medicare goes into effect. Last week, pronouncing the occasion "the beginning of a partnership of great promise," Health, Education and Welfare Department Secretary John W. Gardner awarded the first of...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!