Members of both parties slammed the insurers on several grounds, including their high executive compensation and their widespread practice of denials and delays in paying for patients’ care. Even amid sparring over whether the Affordable Care Act plays a role in contributing to higher premiums and out-of-pocket expenses, the panels’ Republicans and Democrats expressed widespread agreement that the insurers had failed to contain costs.
“There is not one single American I have met that believes health insurers are effective at lowering costs,” said Representative Jason Smith, the Republican from Missouri who chairs the House Ways and Means Committee.
“Premiums are rising — patients are struggling to afford care,” said Representative Buddy Carter, the Georgia Republican and pharmacist who is a member of the health panel under the House Energy and Commerce committee. He also pointed to the high annual compensation of executives at CVS Health, including David Joyner, its current chief executive, who was paid $17 million in 2024.
The hearings were held against the backdrop of the decision by the Republican-controlled Congress to allow the expiration of generous subsidies under Obamacare, doubling or even tripling costs for millions of people. And the hearings were influenced by the spike in annual insurance rates for the privately insured — 180 million people in the United States rely on an employer to provide their insurance. They are confronting steep increases in the cost of coverage and in how much they will have to pay directly for medical bills.