Buchanan Votes to Pass the Lower Health Care Premiums for All Americans Act

"Health care should be affordable, transparent and work for every American."

Legislation Focuses on Lowering Costs, Expanding Choice and Improving Transparency

WASHINGTON - Today, Congressman Vern Buchanan, Vice Chairman of the House Ways and Means Committee and Chair of the Health Subcommittee, released the following statement after he voted to pass the Lower Health Care Premiums for All Americans Act (H.R. 6703):

"Health care should be affordable, transparent and work for every American. That's why I joined my Republican colleagues to pass the Lower Health Care Premiums for All Americans Act because it takes practical steps to lower premium costs, expand access to affordable coverage and give families and workers more choices. This health care package increases transparency in the system, reduces hidden costs and empowers small businesses to offer high-quality insurance to employees. It's a commonsense approach to make health care more affordable and accessible for all Americans."

In addition to being the Vice Chairman and most senior Republican on the powerful U.S. House Ways and Means Committee, Buchanan is also the Chairman of the Health Subcommittee, which has broad jurisdiction over traditional Medicare, the Medicare prescription drug benefit program and Medicare Advantage.

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BACKGROUND ON THE LOWER HEALTH CARE PREMIUMS FOR ALL ACT

Lowers Premiums for all Americans

• Pharmacy Benefit Manager Transparency: Requires PBMs to provide employers with detailed data on prescription drug spending, rebates, spread pricing, and formulary decisions-empowering plans and workers with the transparency they deserve.
• Appropriates Cost Sharing Reduction Payments: Provides necessary funding for CSR payments beginning in 2027, lowering premiums and stabilizing the individual market while ensuring taxpayer dollars are used responsibly. Relief would be better directed towards low-income enrollees that need them.

Improves Health Care Options for America's Workers

• Association Health Plans: Expands access to Association Health Plans by allowing employers-including self-employed workers-to band together across industries to purchase affordable, high-quality coverage.
• Access to Stop-Loss Insurance: Ensures small and mid-sized employers can protect themselves from catastrophic claims by clarifying that stop-loss insurance is not "health insurance coverage." This would allow small businesses to offer their employees more tailored, affordable care.
• CHOICE Arrangements: Codifies and strengthens 2019 rules allowing employers to offer defined contributions for employees to purchase their own coverage-renamed as CHOICE arrangements-and permits employees to pay premiums pre-tax.