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
- Temporary tax hike to fill Medicaid gap heads to governor
- Iowa Senate sends health insurer tax increase to governor’s desk
- Temporary tax hike to fill Iowa Medicaid gap heads to governor’s desk
- Iowa Medicaid temporary tax plan draws sharp public opposition
- EDITORIAL: Make responsible tax cuts, increases
More Advisor NewsAnnuity News
- LIMRA: Final retail annuity sales total $464.1 billion in 2025
- How annuities can enhance retirement income for post-pension clients
- We can help find a loved one’s life insurance policy
- 2025: A record-breaking year for annuity sales via banks and BDs
- Lincoln Financial launches two new FIAs
More Annuity NewsHealth/Employee Benefits News
- Federal Medicaid cuts could exact a heavy toll on psychiatric units at hospitals across the country
- CCIIO chief: ‘Still a lot of fraud’ in the ACA marketplace
- Medicaid cuts could add pressure to already-stressed psychiatric units
- SHAPIRO ADMINISTRATION REMINDS PENNSYLVANIANS TO GET SCREENED FOR COLORECTAL CANCER DURING COLORECTAL CANCER AWARENESS MONTH
- Mizzou joins other insurers in cutting GLP‑1 weight‑loss drug coverage
More Health/Employee Benefits NewsLife Insurance News
- AM Best Affirms Credit Ratings of Nan Shan General Insurance Co., Ltd.
- Corebridge Financial and Equitable Holdings Announce Transformational Merger
- Securian Financial Launches FlexTech™ to Make Embedded Protection Simple, Fast and Convenient
- How outdated beneficiary choices can derail your plans
- Best’s Commentary: Proposed Risk-Based Capital Change in Hong Kong Could Bolster Market’s Global Standing
More Life Insurance News