Health Insurance Companies Summoned To Washington on March 23rd To Testify in the House

This week we have a 30 day extension on the Medicare/Tri-Care cuts and this meeting occurs about one week before the next deadline hits again. The pay cut situation has gone on for way too many years without a permanent solution.

The testimonies are requesting detailed information so get those algorithmic formulas read to do some auditing as they will have theirs. In addition the bill allowing HHS to negotiate drug rates is also picking up steam. In addition, the insurers are meeting with HHS this week.

Humana Inc. president and CEO Michael B. McCallister likely will head to Washington, D.C., soon to address concerns from Congressional leaders about claims denials and company policies related to coverage in individual plans.

U.S. Rep. Henry A. Waxman, D-Calif., chairman of the U.S. House Committee on Energy and Commerce, and U.S. Rep. Bart Stupak, D-Mich., chairman of the House Subcommittee on Oversight and Investigations, have summoned McCallister and the leaders of three other major U.S. insurers.

Letters also were sent to Angela Braly, president and CEO of Indianapolis-based Wellpoint Inc. (NYSE: WLP); Stephen Hemsley, CEO of Minneapolis-based of UnitedHealth Group (NYSE: UNH) and Ronald Williams, chairman and CEO of Hartford, Conn.-based Aetna Inc. (NYSE: AET).

The executives were asked in letters dated March 2 to appear and testify before the Congressional committee on March 23 and bring detailed information on coverage and denials in the individual market, dating back to 2005.

To view the Humana letter, click here.

For links to the other letter, click here.