In a compelling session before Congress, CEOs from some of the nation's largest health insurance companies insisted that they are not the culprits behind skyrocketing healthcare costs. Instead, they pointed fingers at hospitals and pharmaceutical companies, claiming these entities are the real drivers of the recent spikes in premiums.

During their testimony before the Energy and Commerce Health Subcommittee and later to the Ways and Means panel, the executives sought to dismantle the narrative that insurers are responsible for making American healthcare unaffordable. “The cost of health insurance is driven by the cost of health care. It is a symptom, not a cause,” stated Stephen Hemsley, CEO of UnitedHealth Group, emphasizing that their premium rates hinge on the cost and frequency of care provided.

This defense comes at a time when the insurance industry faces intense scrutiny following the expiration of enhanced Affordable Care Act subsidies, which led to a significant increase in Obamacare premiums. The pressure is further compounded by recent criticisms from President Donald Trump, who blasted insurance firms as “money sucking Insurance Companies” on his social media platform, Truth Social.

The insurers' testimonies also highlighted their proposals for legislative reforms aimed at curbing costs, including changes to provider payment structures and the digitization of health records. Moreover, they underscored their collaborative efforts with the Trump administration to expedite treatment approvals and their commitment to returning profits from Obamacare plans to customers by 2026.

Gail Boudreaux, CEO of Elevance Health, pointed to data indicating that hospital care, physician services, and prescription drugs were the primary contributors to the 7.2 percent rise in U.S. healthcare spending, which reached $5.3 trillion in 2024. Similarly, David Cordani, CEO of Cigna, cited the sharp increase in hospital prices over recent decades, exacerbated by hospital acquisitions and the role of private equity in healthcare.

Despite these assertions, the insurance sector faced counterarguments from other healthcare stakeholders. The American Hospital Association submitted a statement arguing that insurers often create barriers that delay patient access to necessary medical treatments.

As the debate unfolds, the focus remains on how policymakers will address these complex issues to achieve a more affordable and efficient healthcare system for all Americans. The testimonies suggest a shared responsibility among various sectors of the healthcare industry, urging a collaborative approach to reform.