Large Employers Applaud Congress for Focus on Lower Costs, More Transparency in Health Care Spending

WASHINGTON, DC – HR Policy Association and the American Health Policy Institute today releases its statement for the record to the U.S. House of Representatives Committee on Energy and Commerce, Subcommittee on Health. The statement expresses appreciation to the Committee for holding the hearing, “Health Care Spending in the United States: Unsustainable for Patients, Employers, and Taxpayers.”

Healthcare spending and transparency in healthcare are critically important issues for large employers providing healthcare coverage as rising costs directly impact the ability of employees and their families to access and receive affordable, high-quality health care. The hearing follows the passage of the Lower Costs, More Transparency Act which will enable employers to better manage their healthcare costs by increasing PBM and hospital price transparency.

Margaret Faso, Executive Director, American Health Policy Institute and Senior Director, Public Policy, HR Policy Association said, “The Association applauds Congress for its continued focus on transparency in health care spending. The opaque nature of the health care system has limited the ability of employers to manage their health care costs and this legislation is a step in the right direction in creating a more robust, competitive, and accountable health care industry.”

The Association is the leading organization representing chief human resource officers of nearly 400 of the largest employers in the United States. Collectively, their companies provide health care coverage to over 20 million employees and dependents in the United States. The Institute, a part of the Association, examines the challenges employers face in providing health care to their employees and recommends policy solutions to promote affordable, high-quality, employer-based health care. The Institute serves to provide thought leadership grounded in the practical experience of America’s largest employers.

More than half of Americans receive coverage via an employer and large employers are committed to maintaining employer-sponsored health insurance as an essential benefit for employees. However, employers and employees are facing serious affordability challenges that threaten the viability of this system if they are not addressed. 

“HR Policy Association and the American Health Policy Institute welcome any opportunity to provide input and speak in further detail about improving the ability of employers to provide high-quality, affordable healthcare benefits to their employees and dependents,” said Ms. Faso.

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To read the full letter to Congress, visit: https://www.hrpolicy.org/getmedia/7f887de3-473b-4d47-9898-482ba3f97f06/Jan-31-Energy-and-Commerce-Statement.pdf