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JEC hearing: Members debate whether U.S. health care has become financial engineering as Medicare faces pressure
Summary
At a Joint Economic Committee hearing, lawmakers and experts debated whether the U.S. has turned health care into ‘‘financial engineering,’’ focusing on Medicare solvency, obesity-related costs, fraud in ACA subsidies, and how market and statutory reforms might lower prices and improve prevention.
Chairman Schweickert opened a Joint Economic Committee hearing by arguing that the United States has turned health care into ‘‘financial engineering’’ and urged the panel to focus on what actually makes people healthier rather than only the financing arrangements. He cited a Joint Economic Committee Republican analysis that projects the Medicare trust fund could be exhausted within seven years and said rising health-care inflation will compound the demographic pressures on federal budgets.
Ranking Member Hassan framed the hearing around prevention, primary care and affordability, and introduced four witnesses: Brooks Tingle of John Hancock, Ed Clark of Banner Health, Ovik Roy of the Foundation for Research on Equal Opportunity, and Dr. Matthew Fiedler of the…
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