Obama has not yet released specific details of the plan as he apparently wants to review opinions in Congress first on the best way to move forward.
Media is reporting that the president will push very hard for a universal health care plan by the end of this year -- an ambitious target date considering past failures in this area.
"The cost of health care now causes a bankruptcy in America every 30 seconds. By the end of the year, it could cause 1.5 million Americans to lose their homes," Obama said according to a released excerpt of his opening remarks at the summit.
"If we want to create jobs and rebuild our economy, then we must address the crushing cost of health care this year, in this administration. Making investments in reform now, investments that will dramatically lower costs, won't add to our budget deficits in the long term -- rather, it is one of the best ways to reduce them," another excerpt said.
Obama summit eyes cure for US health care woes
CNN - 55 minutes ago
WASHINGTON (CNN) -- The Obama administration is hosting a summit Thursday designed to cure a frustrated patient battling a persistent ailment: the United States and its rising health care costs.
