High Country Times

WASHINGTON –Today, Health, Employment, Labor, and Pensions Subcommittee Chairman Bob Good (R-VA) delivered the following statement, as prepared for delivery, at a hearing titled: "ERISA's 50th Anniversary: the Path to Higher Quality, Lower Cost Health Care".

"Fifty years ago, President Ford signed into law the Employee Retirement Income Security Act of 1974, better known as ERISA. For half a century, ERISA has stood as the cornerstone of our nation's commitment to safeguarding the benefits of hardworking Americans," stated Chairman Good.

Chairman Good emphasized the importance of genuine oversight and understanding the impact of laws on constituents, stating, "Congress has a responsibility to not merely create laws, but to conduct genuine oversight, and better understand how the laws we pass impact the lives of our constituents."

Highlighting the significance of ERISA's preemption provisions, Chairman Good noted, "ERISA's strength lies in its preemption provisions, which provide employers with the certainty to offer consistent and comprehensive benefits across state lines."

Furthermore, Chairman Good highlighted the role of ERISA in fostering innovation and adaptation in the health care landscape, stating, "Because ERISA reduces regulatory burdens, it allows employers to innovate to meet the needs of their employees and adapt to the evolving health care landscape."

Chairman Good expressed his belief in the private sector's ability to excel in health care, stating, "Almost anything the government does, the private sector can do better, and this especially applies to health care."

Regarding health care conversations in Congress, Chairman Good critiqued the focus on government-controlled health care, stating, "For too long, Congress has allowed the Medicare-for-all mentality to dominate our health care conversations, ignoring the fact that the majority of Americans don’t have—and don’t want—government health care."

In conclusion, Chairman Good advocated for employer-driven flexibility, innovation, and competition as key drivers in decreasing health care costs, stating, "I believe that more employer-driven flexibility, innovation, and competition will do far more to decrease health care costs than government-controlled price setting ever will."