Fees imposed on health insurance providers by the government — expected to raise over $100 billion over 10 years — as part of Obamacare will be passed on to policyholders, health insurance executives told a House Energy and Commerce Committee on Wednesday, The New York Times reports.
Mark Pratt, senior vice president with America’s Health Insurance Plans called for the tax levied on health insurers to be repealed, The Daily Caller reports, because it is “undermining efforts to control costs and provide affordable coverage options.”
“We remain concerned that adverse selection and unnecessarily high costs will occur in the absence of broad participation in the new exchanges,” Pratt testified.
The health insurance executives also “complained bitterly” about the fees, according to the Times.
According to a news release by the Energy and Commerce Committee, “witnesses were unable to provide detailed estimates about what premium increases the American people can expect next year. The committee will continue its thoughtful oversight of this law and demand transparency from an administration that has distorted the reality of this law throughout its implementation.”