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A day after Senator Kamala Harris of California endorsed ending private health insurance in favor of a “Medicare for all” government plan, Michael R. Bloomberg, a possible rival of hers for the Democratic presidential nomination, said the proposal would “bankrupt us for a very long time.” Mr. Bloomberg, the former New York City mayor who is considering a 2020 bid on a centrist Democratic platform, rejected the idea of “Medicare for all,” which has been gaining traction among Democrats. (Astor, 1/29)

"You can have Medicare for all for people who are uncovered," he continues, "But ... to replace the entire private system where companies provide health care for their employees would bankrupt us for a very long time." Bloomberg's comments come as former Starbucks CEO Howard Schultz, a fellow billionaire, expressed interest this week in running as an independent presidential candidate in 2020, citing what he said was the Democrats' shift too far to the left. (Bowden, 1/29)

Moderator Jake Tapper questioned her on whether the "Medicare for All" health plan, which she said she feels "very strongly" about, would mean eliminating private insurers for those who would prefer to keep them." The idea is everyone gets access to medical care," Harris responded, noting situations where patients have had to wait for insurers to approve treatments, despite the fact that their physicians have deemed them necessary. Former Starbucks CEO Howard Schultz said Tuesday that Harris wants to "abolish the insurance industry," something he called "not American." (Summers, 1/29)

In a single flourish, Harris drew attention to the fact that the Medicare-for-all plans backed by 16 senators — including five potential candidates for the Democratic nomination — would in effect remove private health insurance from the estimated 251 million Americans who use it, broadly disrupting the industry and the way Americans experience the medical system. The concept drew quick rebukes from Republicans — and billionaire coffee magnate Howard Schultz, who is considering an independent presidential bid — showing how easily the idea can be weaponized politically, especially as candidates are increasingly pressed for specifics. (Linskey, 1/29)