Source: United States House of Representatives – Congressman Earl L Buddy Carter (GA-01)
Headline: ICYMI: Carter holds Insurance CEOs’ feet to fire during heated E&C hearing
WASHINGTON, D.C. – Rep. Earl L. “Buddy” Carter questioned CEOs of major health insurance providers during an Energy and Commerce Subcommittee on Health Hearing entitled, “Lowering Health Care Costs for All Americans: An Examination of Health Insurance Affordability.”
His line of questioning focused on the bloated compensation that the heads of these major companies- including Stephen Hemsley, CEO, UnitedHealth Group; David Joyner, Chairman and CEO, CVS Health; Gail Boudreaux, President and CEO, Elevance Health; David Cordani, President, CEO, and Chairman of the Board, The Cigna Health Group; and Paul Markovich, President and CEO, Ascendiun – rake in at the expense of patients’ health.
In Case You Missed It, watch and read the highlights below:
Watch Rep. Carter’s remarks here
Rep. Carter: Between 2014 and 2024 the 7 largest for-profit health insurers including United, CVS, Cigna, and Elevance raked in over $10 trillion in revenue, $10 trillion, and $543 billion in profit. In fact, since the passage of the UnAffordable Care Act, the stock prices of these health insurers has increased by over 1,000%, 1000%. Premiums are rising and patients struggle to afford care. Insurance executive compensation continues to increase at the expense of patients. Americans now owe, and hear me and hear me clearly, Americans now owe $220 billion in medical debt, $220 billion. To put it simply the system is failing the people it’s meant to serve and that is the patients.
Mr. Joyner, in 2024 CVS Health spent a staggering $41 million in compensation to you and your colleague Karen Lynch. This is enough to cover the premiums for thousands of American families. How do you justify getting paid that much when so many of your patients struggle to afford skyrocketing premiums? $41 million, Mr. Joyner.
Mr. Joyner: Congressman, thanks for the question.
Rep. Carter: Don’t thank me for the question, just answer it please…
Mr. Joyner: That was not my compensation that you referenced. This past year my compensation was $17 million.
Rep. Carter: It was $17 million, pardon me.
Mr. Joyner: Of which 1.1 was my base salary, and the rest was long-term incentives.
Rep. Carter: I just met with some pharmacists out there who want to say you’re welcome, they helped pay your salary.
Mr. Joyner: I think it’s important to note, based off the performance of the year, I did return my bonus back to the employee relief fund. So, the employees that were going through challenging and difficult times had the benefit of my bonus last year.
Rep. Carter: CVS employees?
Mr. Joyner: Yes, sir.
Rep. Carter: Going through the difficult, what about the patients who are trying to pay their premiums going through difficult times?
Rep. Carter: Let me ask you, Mr. Hemsley, Yes or No, don’t thank me for the question, just yes or no, have you ever personally looked a patient in the eye and explained why your company denied them a medication their doctor said was needed? Have you ever personally looked a patient in the eye and told them that?
Mr. Hemsley: I have looked patients in the eyes many times, I don’t recall whether it’s regarding prior authorization.
Rep. Carter: Well, Mr. Hemsley, let me tell you, I’ve practiced pharmacy for 40 years. I’m the one who had to look the patient in the eye and had to tell them that, on your behalf; it’s not fun.
Rep. Carter: Mr. Hemsley, I want to tell you a story about Andrea Kelly, she’s a single mother from Kentucky who was diagnosed with stage II breast cancer and has endured years of chemotherapy surgery and radiation just to stay alive. And she wants to stay alive because she’s got a seven-year-old daughter. Despite being stable on the medications for a year, United Healthcare is now denying Andrea her Lupron Injection and Veozah medication. According to her doctor, these denials are actively increasing, as you would imagine, and you understand, they are actively increasing Andrea’s risk of cancer recurrence. This is not about convenience or cost, this is about whether her cancer comes back. To quote Andrea, and I quote, “I am a single mom and would do anything to live as long as I can for my daughter, who is now seven. I need access to my medication so that I can live for my child.”
Rep. Carter: It was me, I was the one who went to the counter, I was the one who had to tell him that. Not you, not you, Mr. Joyner, not any of you on this panel, but me, the pharmacist, I was the one who had to tell them that. Mr. Hemsley, knowing that your company’s denial raises Andrea’s risk of cancer recurrence, why is United Healthcare overriding her doctors and denying her medication? Do you have any idea?
Mr. Joyner: Um, I don’t know that particular circumstance.
Rep. Carter: Can you help me out here because I want to help her, what can I tell her? What can I tell Andrea that she can tell her seven-year-old daughter?
Mr. Joyner: Actually, I would love to learn more about that and see if we can help solve that problem.
Rep. Carter: Let me ask you this Mr. Hemsley. President Trump’s proposing a bold new health care plan, I applaud him for that, one that finally puts patients in control. Thank God somebody finally realizes instead of sending the money, my colleagues, instead of sending the money to insurance companies, send it to the patients. Let them create a competitive marketplace. The President is proposing this, he wants to put patients in control, expand choice, and ensure transparent pricing. Can we count on you Mr. Himsley, to support President Trump’s great health care plan?
Mr. Himsley: Representative, we will be open to any kind of bipartisan solution, and I think the President’s thoughts contribute to the conversation, good ideas to be considered.
Rep. Carter: I certainly hope so, because for 40 years I’m the one, I’m the one. Thank you, Mr. Chairman. I yield back.