[Congressional Record Volume 172, Number 55 (Tuesday, March 24, 2026)]
[House]
[Page H2637]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]





                    HEALTH INSURANCE COMPANY PROFITS

  (Mr. Murphy of North Carolina was recognized to address the House for 
5 minutes.)
  Mr. MURPHY. Mr. Speaker, I rise today to shed light on some of the 
egregious, profit-driven practices that American health insurance 
companies are using to wreak havoc on the American patient.
  I have dedicated the last 35 years of my life to taking care of 
patients, primarily those in rural and underserved areas of eastern 
North Carolina. I have taken care of every patient who walked into my 
office, regardless of their ability to pay, but the American patient 
should not be one illness away from bankruptcy.
  Yes, American patients are sick, but, unfortunately, the payment 
system of American healthcare is sicker.
  Recently, I spoke passionately about this issue in a House Committee 
on Ways and Means hearing which hosted CEOs from the largest health 
insurance companies in this country for a hearing on healthcare 
affordability.
  During my time, I exposed some of the unconscionable practices of a 
few insurance companies that are squeezing every last penny out of 
patients and those who care for patients.
  This is a matter far beyond partisan politics.
  These four insurance companies alone made more than $1.1 trillion in 
revenue. In fact, take a look at the graph here that I pulled from 
Wendell Potter's recent Substack article titled: ``2025: Big 
Insurance's $1.7 Trillion Year.'' It shows the ridiculously insane 
profits of Centene, Cigna, CVS, Humana, and United over the last 2 
years.
  To illustrate how bad things have gotten, I am going to make an 
example out of UnitedHealthcare because they are the worst actor. It is 
the largest insurance company by over $400 billion of revenue in 2024.
  To give people an idea of how large United has become, there are just 
two companies that are on top of it in the Fortune 500 list. It is the 
most consolidated of all insurance companies, with over 2,700 in 
subsidiaries. They own doctors' offices, home health agencies, 
pharmacies, surgery centers, and because they make so much money, they 
are able to finance a large bank.
  Size isn't just the problem. It is, however, their practice. They are 
mired in allegations of fraud and abuse. In fact, there are accusations 
right now that by playing the system to their own profit, United is 
currently under investigation by the Department of Justice for alleged 
Medicare Advantage billing and coding fraud.
  In fact, in 2021, United scammed the Medicare Advantage system by 
adding diagnoses to patients' records for conditions that no doctor 
treated, which triggered an extra $8.7 billion in payments.
  Looking at this graph over here, United doctors diagnosed things a 
lot more commonly in their Medicare Advantage plan than in a fee-for-
service plan: A diagnosis of senile purpura, 732 to 26 in fee-for-
service; obstructed leg arteries, 403 times compared to just 5 in fee-
for-service; secondary hyperaldosteronism, 318 times compared to just 8 
times in fee-for-service.
  In fact, taxpayers paid Medicare Advantage organizations $50 billion 
in 2021 for diseases diagnosed but not treated--a total waste of 
taxpayer money. It is like being diagnosed with being left-handed. 
There is no reason to treat it, yet they charge the government anyway.
  It is no wonder the cost of healthcare insurance premiums skyrocket 
every year. Right now the average premium cost for a family of four is 
$27,000 a year. Make no mistake, the ridiculous climb in premium costs 
could have been prevented.
  We all know that the Affordable Care Act was written by insurance 
companies for insurance companies. The unfortunate truth is that the 
ACA failed in its promise to lower healthcare costs.
  These graphs here demonstrate that since ObamaCare came into use, 
insurance company profits have skyrocketed. But guess what else also 
skyrocketed--patient premiums. Inflation has risen by 2.6 percent since 
1999, while insurance premiums have risen 6 percent per year. Over the 
last 5 years, nearly half of small employers have had to cut profit or 
suffered a loss to pay for insurance premiums.
  The health insurance companies are bleeding the American people dry. 
They are destroying access to high-quality, affordable care in this 
country. Companies like United, which have destroyed the market with a 
profit-first-patient-last vertical integration, need to be broken up to 
restore competition in the marketplace. This is the best way to lower 
premiums.
  Congress and the administration must act boldly and swiftly before it 
is too late. Insurance companies have a stranglehold on Washington, 
D.C., and that must be stopped.

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