In a high-profile hearing on Capitol Hill, executives from some of the largest US health insurance companies faced tough questions from lawmakers about the growing affordability crisis in the country’s healthcare system.
The House Energy and Commerce Committee convened the hearing, with Republican leaders aiming to identify ways to rein in rising costs across the sector. The CEOs of UnitedHealth Group, CVS Health, Elevance Health, Cigna Group, and Ascension testified, providing insight into the complex dynamics driving the surge in healthcare spending.
One notable development came from UnitedHealth Group’s CEO, Stephen Hemsley, who announced that his company would voluntarily rebate profits earned from Affordable Care Act (ACA) plans to customers this year. Hemsley acknowledged that UnitedHealth is a relatively small player in the individual ACA market, but said the move was intended to support Congress’ efforts to find long-term solutions.
The testimony came as healthcare costs continue to climb nationwide. According to a survey by the Kaiser Family Foundation, premiums for families with employer-based insurance rose 6% in 2025, reaching nearly £27,000 per year. Overall US healthcare spending surged 7.2% in 2024, topping £5.3 trillion and accounting for 18% of the country’s gross domestic product.
Several lawmakers used the hearing to challenge the insurers directly, with Representative Diana Harshbarger, a Republican who is also a pharmacist, questioning the executives on how coverage decisions are made for prescription drugs and how prices are set. She accused the insurance companies of effectively dictating the rules of the market.
Representative Alexandria Ocasio-Cortez also spoke about corporate consolidation within the industry, noting that CVS Caremark owns Aetna, CVS pharmacies, and some drug manufacturers. “The health insurer gets a cut, the pharmacy benefit manager gets a cut, the drug manufacturer gets a cut and the patient gets screwed,” she said, adding that dismantling corporate monopolies is an area of agreement between capitalists and democratic socialists.
The hearing comes as Congress has been focused on insurance affordability for months, particularly as lawmakers in both chambers have been unable to agree on renewing enhanced ACA subsidies that were introduced during the COVID-19 pandemic. Without those subsidies, premiums were projected to double, prompting many individuals to drop their coverage.
This year, ACA enrollment has fallen behind, with about 22.8 million people signing up so far, roughly 800,000 fewer than at the same point last year. Both new sign-ups and returning enrollees are down.
As the healthcare affordability crisis continues to dominate the political agenda, the testimony from insurance executives has provided lawmakers with a glimpse into the complex forces driving the problem, setting the stage for further debate and potential action.