COLUMN: Working to lower the cost of care for Kentucky families
As the Chairman of the
The truth is that the increasing cost of health care is out of control. According to CMS, America spent
A core component of the health insurance industry's value proposition is working on behalf of Americans to lower the cost of health care, along with improving access to quality care. Yet, health care costs continue to rise every year, and increasingly, Americans have become frustrated by the feeling that their insurance is working against their health, not for it.
One of the main issues this hearing focused on was the way in which these insurance companies have vertically integrated, meaning in addition to operating the insurance component, these companies also control pharmacies, health care providers, drug manufacturers, and other components part of the health care supply chain. This results in Americans being forced to navigate a health care system without fair market competition and choice. I don't know about you, but to me, as a believer in the free market, that is a driving force behind increased health care costs.
In addition to our recent hearing,
Requiring PBMs to pass savings along to beneficiaries.
Requiring PBMs to provide employers with specific information on costs, rebates, fees, use of drugs, and cost sharing, to enable employers to make informed decisions about their employees' health benefits.
Expanding pharmacy options for seniors by requiring Part D plans to allow any willing pharmacy that meets standardized and reasonable contract terms to participate in their networks.
I look forward to working with my Democratic colleagues to find bipartisan solutions to lower health care costs for American families.
I am eager to continue our series of hearings to address this important issue head-on. To stay up to date on this work, click here or on the button below!



Penny bill: Hidden Tax For Cash Customers
My Spin: The healthcare election
Advisor News
- Women say their advisors respect them, but talk down to them
- How PEPs compare with traditional 401(k)s
- Allianz studies why 42% of Americans retire sooner than expected
- Why advisors should be talking about life settlements
- Millennials are ready to bring their advisor to the family table
More Advisor NewsAnnuity News
- NAIC regulators continue pushing for annuity illustration updates
- Wink: Flat first-quarter annuity sales fall just short of $100B
- 26North Re Agrees to Acquire 100% of Independent Insurance Group
- Matthew Michelini named Athene president, with an eye on annuity growth
- Lincoln Financial Announces Executive Leadership Transitions
More Annuity NewsHealth/Employee Benefits News
- Tom Campbell: Our healthcare system is spiraling out of control
- After Iowa Medicaid goes private, abuse rises, wait for services soars
- NEW YORK SENATE VOTES TO MODERNIZE PAID MEDICAL LEAVE BENEFITS FOR WORKERS FACING CANCER AND SERIOUS ILLNESS, ACS CAN CALLS ON ASSEMBLY TO DELIVER FOR PATIENTS AND PASS BILL
- Cuts coming to Kentucky Medicaid program, social services and more
- Parker: Investment helps healthcare crisis
More Health/Employee Benefits NewsLife Insurance News
- AM Best Assigns Issue Credit Ratings to The Northwestern Mutual Life Insurance Company’s New Surplus Notes
- Prudential announces more layoffs as insurer continues to restructure
- Pradip Patiath Joins Securian Financial Board of Directors
- Over $107 million in life insurance benefits located for Tennesseans in 2025
- Study Data from National Institutes of Health Provide New Insights into Law and the Biosciences (Taking actuarial fairness seriously: what is required for the ethical use of genetics in insurance?): Legal Issues – Law and the Biosciences
More Life Insurance News