""A 'lack of competition and consolidation within the insurance marketplace has led us to higher healthcare costs as a whole.'""
""Americans know that healthcare is far too expensive, as it takes up a greater percentage of our economy than any other developed country.""
""Our healthcare system is bankrupting and failing us. It's way too expensive, it's too impersonal. It doesn't cover everybody. It has inferior quality scores relative to other countries, and it's mistrusted by far too many Americans. This is unacceptable.""
Health insurance CEOs from UnitedHealth Group, CVS Health, Elevance Health, Cigna, and the parent of Blue Shield of California testified before House committees about rising healthcare costs, vertical integration, and prior authorization. Lawmakers and witnesses agreed that healthcare affordability remains a serious problem as premiums, deductibles, and out-of-pocket costs increase. Several members linked market consolidation and lack of competition to higher costs. CEOs delivered varied proposals to address affordability and access. Two consumer witnesses provided perspectives on affordability and small-business impacts. The hearings focused on competition, consolidation, prior authorization, and potential policy responses to lower costs and improve access.
Read at MedCity News
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