UnitedHealth Group Provides Testimony for House Energy & Commerce and Ways & Means Committee Hearings

Today, UnitedHealth Group Chairman and CEO Stephen J. Hemsley will testify before both the House Energy & Commerce and Ways & Means Committees, discussing solutions to make high-quality health care easier to find, simpler to navigate and, most importantly, more accessible and more affordable.

The U.S. health care system is the most expensive in the world, yet it delivers inconsistent quality, uneven outcomes and significant waste. For example, while America is fortunate to have some of the finest hospitals and care providers in the world, the reality today is that hospital prices have increased nearly three times faster than inflation over the past 25 years and account for more than 30% of what America spends on health care each year. Similarly, the American people have benefitted enormously from the advances and innovations delivered by pharmaceutical companies, but prescription drug spend has increased 269% since 2000 and continues to meaningfully outpace inflation year after year, climbing about 9% annually during the past decade and 13% in the past two years.

Companies like UnitedHealth Group, which design benefits, negotiate more affordable prices and accelerate the adoption of value-based care, are incentivized to keep the cost of care as low as possible while keeping people as healthy as possible, unlike other industry stakeholders. Last year alone, we negotiated nearly $300 billion in discounts on behalf of customers. Without those efforts, recent premium increases would have easily been at least two times higher.

In his testimony, Hemsley shared that UnitedHealthcare, while a relatively small participant in the individual ACA market, will voluntarily eliminate and rebate its profits this year for those coverages, as Congress continues to work toward more long-term solutions.

He also outlined additional steps policymakers can take to strengthen the stability, affordability, and sustainability of our country's health care system, including:

• Broadening Consumer Choice
• Standardizing Broker Compensation
• Lowering Health Savings Account ("HSA") Thresholds and Broadening the Scope of Covered Services for High-Deductible Health Plans ("HDHPs")
• Addressing Site of Service
• Expanding Flexibility for Association Health Plans ("AHPs")
• Reforming Patent Law to Lower Drug Costs and Boost Competition
• Restricting Direct-to-Consumer Advertising
• Addressing Disparities Between Domestic and Foreign Drug Prices

Read the full submitted Energy & Commerce Committee testimony.

Read the full submitted Ways & Means Committee testimony.

About UnitedHealth Group

UnitedHealth Group is a health care and well-being company with a mission to help people live healthier lives and help make the health system work better for everyone through two distinct and complementary businesses. Optum delivers care aided by technology and data, empowering people, partners and providers with the guidance and tools they need to achieve better health. UnitedHealthcare offers a full range of health benefits, enabling affordable coverage, simplifying the health care experience and delivering access to high-quality care. Visit UnitedHealth Group at https://www.unitedhealthgroup.com and follow UnitedHealth Group on LinkedIn.