Price 'Not Aware' Of Stock Choices During HIP Act Consideration, He Tells Senators
HHS Secretary Nominee Rep. Tom Price, R-Ga., told members of a key Senate health panel that he was "not aware" of purchases his broker made of stocks in health-care companies including Zimmer Biomet Holdings Inc., shortly after introducing The HIP Act to delay a CMS orthopedics bundled payment program. The appointee also signaled his intentions 'not to pull the rug out' on millions of Americans' insurance coverage in any Affordable Care Act replacement plan he works on.
You may also be interested in...
Senators voted 52 to 47 to confirm Rep. Tom Price, R-Ga., as Health and Human Services secretary, where he will be a key leader implementing reversals to the Affordable Care Act. Meanwhile, Trump’s pick to lead the Medicare agency, Seema Verma, faces a confirmation hearing in the Senate Feb. 16.
Questions about US Health and Human Services Secretary nominee Tom Price's investments over the last year – including in Zimmer Biomet – and overlapping legislation he has introduced are likely to be raised at confirmation hearing before the Senate HELP Committee this week. However, Zimmer Biomet and other device firms have been trying to profit from the business models that Price opposes.
Industry representatives – including the head of the Access to Medical Imaging Coalition and a former chief operating officer at Boston Scientific – remain unconcerned about expected major drops in health insurance coverage if a Republican-controlled Congress and HHS secretary appointee Tom Price repeal Obamacare this year, saying that proposed Republican replacement plans will fill the gap. Current HHS Secretary Sylvia Burwell disagrees, and laid out the reasons why in a Jan. 9 speech.