Hearing of the Oversight Subcommittee of the House Ways and Means Committee - Rising Health Insurance Premiums Under Obamacare

Hearing

I thank the Chairman for holding this hearing on the Affordable Care Act. We are always pleased to discuss our landmark health law. Let me begin by saying what I have said at countless other hearings--the law works. It was the right thing to do; it was the just thing to do; and it was long overdue. It is the law of the land.

Each and every one of us must do all we can to make this country better for the least among us. And, for those who will come after us. We have a duty to speak up, and speak out, on behalf people who have no one to stand up for them. I believe in my core that health care is a basic human right. It should not be reserved for a select few, for the rich, or for the wealthy.

The health law provides real benefits to American families. Over sixteen million people who did not have coverage now do. Under the law, more than one hundred million people who are ill or suffer from long-term conditions can no longer be denied coverage. Millions of young people can now stay on the insurance of their parents until age twenty-six. In addition, over nine million hard-working Americans across the United States have received tax credits to make health insurance affordable, just as Congress intended.

I thank the witnesses for being here today. I want to know more about how premiums are being set for next year. There have been stories in the press. But, these stories mainly look at proposed rates that must be reviewed under the law. Rates must be reviewed if they increase ten percent or more. These rates are not yet final. Many of these stories do not look at proposed rate cuts and rate increases that are less than ten percent. I look forward to hearing more from our panel on what they think the final rates will be.

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