NEAL OPENING STATEMENT AT HEALTH MARKUP

Press Release

"Thank you, Mr. Chairman. As we stare down the August district work period, it's disappointing to imagine what could have been. We have shared goals here, and good faith negotiations could have led to significant progress for the American people. Unfortunately, my colleagues wanted the forces outside of this Committee to prevail, and now the legislation in front of us is a missed opportunity for bipartisan action on promoting health care transparency. We came to the table in hopes of a deal with one basic request, improve on what the Energy and Commerce Committee produced and fill in the gaps where they left critical pieces out. Unfortunately, the legislation here today does neither.

Certainly, Democrats are in favor of safeguarding consumers, and our record shows just that. We bolstered patient protections in the Affordable Care Act, and now, thanks to those Democratic investments, more Americans are covered than ever before. Democrats have repeatedly acted to protect Medicare and the lifesaving care it provides to millions of America's seniors. Democrats reduced drug prices and put money back in the pockets of millions of Americans with the landmark Inflation Reduction Act, but our work isn't done.

It's impossible to talk about transparency in the health care system without talking about private equity, which isn't addressed in this legislation. Its unchecked expansion across the industry has been tied to poor patient outcomes: higher mortality rates in nursing homes, hospital bankruptcies and closures, surprise medical billing, and Medicare fraud. Patients have no indication of how PE ownership affects their care, nor can regulators conduct proper oversight. Congress must find ways to ensure greater accountability of private equity owners to protect patients and make certain they receive the quality, affordable care that they deserve.

Another area of disagreement was my colleagues' insisting on transparency standards based on age. One of the key gaps in this product is the failure to apply the same standards to Medicare Advantage, which covers over 30 million Americans and will spend more than $9 trillion over the next decade. So, while it is laudable that my colleagues want to give my 64-year-old constituents more information on their plan, once they turn 65, they no longer deserve this same background on their Medicare Advantage plan? This omission is concerning: It shouldn't matter your age, consumers deserve the same transparent information from their health plans.

Other opportunities for stronger health care industry oversight were left on the table today. Increasing consolidation with insurers, pharmacy benefit managers (PBMs), and providers has led to a more opaque marketplace, needing an infusion of sunlight to promote better competition.

Democrats won't waver in our efforts to help make informed decisions about their health care. Workers and families must be able to understand the health insurance options available to them and rely on robust oversight that prevents anticompetitive tactics and protects consumers. Unfortunately, the legislation before us today misses opportunities to strengthen these safeguards. We could have mitigated these issues and promoted transparency across a wider spectrum of the health care industry, protecting consumers and ensuring that they have the information they need to access quality, affordable health care, had we worked together.

Thank you, and I yield back."

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