Executives from the country's major health insurers, including the heads of the firms tied up with the Big Three PBMs, will be on Capitol Hill today to testify and take questions from two congressional committees. The hearings, held by the House Energy and Commerce Subcommittee on Health and the House Committee on Ways and Means, will address the rising costs of health care. According to their written testimonies released in advance of the hearings, the CEOs intend to (as usual) blame everyone else, including hospitals, specialty service providers, and pharmaceutical companies.
Those witnesses will include Stephen Hemsley, CEO of UnitedHealth Group; David Joyner, chairman and CEO of CVS Health; and David Cordani, president, CEO, and chairman of the board of the Cigna Group. We'll just have to see how their finger-pointing and excuse-making fares in the face of real questioning by lawmakers on both committees who support PBM reform.
Witnesses will also include Gail Boudreaux, president and CEO of Elevance Health, and Paul Markovich, president and CEO of Ascendiun, and others.
NCPA has sent background materials on PBM abuses as well as potential questions to members of the committees. You can watch a livestream of the Energy and Commerce hearing at 9:45 a.m. ET here, and the Ways and Means hearing, which begins at 2:30 p.m. ET, here.
