Health Insurers Face Lawmakers Over Rising Costs and Affordability Crisis

Top executives from major U.S. health insurers testified before Congress about rising healthcare costs and declining affordability. With Obamacare premiums on the rise, insurance leaders from CVS Health, Cigna, and others faced scrutiny, while alternatives like health savings accounts were discussed amid affordability as a pivotal election issue.

WASHINGTON, Jan 22 (Reuters) - In a critical congressional session, top executives from leading U.S. health insurers addressed lawmakers about the escalating costs of healthcare and its diminishing affordability for Americans.

Representatives from industry giants like CVS Health, Cigna, UnitedHealth, and Elevance were questioned as millions confront soaring Obamacare premiums due to expired COVID-era tax credits. The discussion underscored affordability as a pivotal election issue.

Amid written testimonies, UnitedHealth offered a potential reprieve, pledging to provide rebates for customers in Obamacare plans by 2026. As healthcare expenses remain a national concern, policy proposals vary, including direct payments favored by President Trump over previous subsidies.

(With inputs from agencies.)