US health insurance executives testify before Congress about increasing costs of healthcare

CEO of UnitedHealth Group said his company will return profits earned from Affordable Care Act plans to customers

Executives from five of the country’s largest health insurance companies appeared before Congress on Thursday as lawmakers examined why healthcare has become increasingly harder for Americans to afford.

In one effort to address the affordability crisis, the CEO of UnitedHealth Group, Stephen Hemsley, announced that the nation’s largest insurance company will rebate profits made this year from its Affordable Care Act (ACA) plans to customers, while adding it was a relatively small participant in the ACA individual market.