Representative Kat Cammack (R-FL) raked several health insurance executives over the coals in a recent House Energy and Commerce Committee hearing, saying, "On behalf of millions of Americans, this is a moment to change direction. Families are counting on you to do better."
"Over and over, I hear the same question from people back home," Rep. Cammack highlighted. "'Why in the heck am I paying for insurance if it does not actually cover anything?' and this is across all plans and companies. So let's be clear: I am not just talking about Obamacare, which has dominated much of the conversation today; Only roughly 20 million people are covered there, but I am talking about are the 160 million Americans who get their coverage through employer-sponsored insurance, and that is where so many of the affordability challenges are showing up every single day."
Rep. Cammack claimed her constituents were pessimistic about the hearing, saying the health insurance executives' appearance would change nothing.
Nevertheless, the Florida congresswoman asked a series of questions to be answered by a show of hands, starting with whether or not executive compensation "is primarily tied to financial performance, like revenue, margins, earnings, or stock price."
Three of the five raised their hands.
She further asked whether compensation was directly tied to patient outcomes, such as preventing harm from delays, reducing unjustified denials, and ensuring healthcare access.
Four of the five raised their hands, prompting Cammack to ask for their contracts.
Cammack also asked if any of the executives receive financial penalties when patients are harmed by insurer-caused delays, wrongful denials, or overturned denials and appeals.
None raised their hands.
"That right there is the problem," Cammack said, "When denials and delays and appeals, which happen every single day, occur, the patient and their families are the ones that get hurt, not your bottom line."
Cammack concluded by highlighting the ACCESS Act, which allows the creation of health savings accounts (HSAs) that fund up to 1 ⁄12 of the insured's annual reduced cost-sharing actuarial equivalent, with monthly disbursements. Such funds could then be used by the insured through a "qualified medical debit card" to pay for medical care.
