Health Insurance CEOs Point Fingers over Soaring Health Care Costs
CEOs of top insurers testified on causes of premium rises including hospital and drug costs, while lawmakers pressed for divestitures amid record profits and market consolidation concerns.
- On Thursday, the CEOs of UnitedHealth Group, CVS Health Group, Cigna Health Group, Elevance Health and Ascendiun testified before the House Energy and Commerce and Ways and Means Committees in back-to-back hearings probing rising health-care costs.
- Executives have blamed increased care volumes and higher provider prices for premium growth, saying hospital and drug spending has risen at three times the rate of inflation in the overpriced system.
- Members of the Energy and Commerce and Ways and Means committees highlighted patient denials and pressed executive pay, citing Rep. Kim Schrier's denied hospitalization case and Rep. Buddy Carter questioning $41 million paid to Joyner in 2024.
- A bipartisan push would force divestitures of pharmacy units owned by insurers or PBMs as stalled Affordable Care Act subsidies leave millions facing premium spikes despite 17 Republicans backing a House extension.
- Under pressure from the White House, President Donald Trump released a healthcare blueprint earlier this month that critics said lacked detail and targeted `BIG, BAD Insurance Companies` in his Great Healthcare Plan.
12 Articles
12 Articles
Big Insurers Try to Shift Blame for High Health Costs to Hospitals and Drug Makers
In response to palpable, bipartisan frustration among lawmakers over soaring costs for medical care, the chief executives of the country’s largest health insurers on Thursday attempted to place the blame on others, namely hospitals and drug makers. But the executives, summoned to appear at back-to-back House hearings on the affordability of health care, said little that seemed to appease congressional representatives seeking ways to hold the ins…
Health insurance CEOs grilled on high costs of care in back-to-back House hearings
Lawmakers on both sides of the aisle pressed health insurance CEOs on premium hikes, prior authorization rules and claim denials in back-to-back House committee hearings Thursday, zeroing in on how the insurers’ decisions are affecting patients right now.
Health insurance CEOs point fingers over soaring health care costs
Some of the nation’s top health insurance executives sought to deflect blame for the soaring cost of health care in the U.S., arguing that rising hospital and prescription drug prices were driving premiums higher and making health care less affordable for Americans. The CEOs of five major health insurers testified before a House Energy and…
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