Price pledges orderly Obamacare exit

WASHINGTON—Rep. Tom Price, R-Ga., took his turn in the confirmation hearing hot seat today, assuring senators he has no conflicts of interest. He also pledged, if confirmed as Health and Human Services secretary, that millions of Americans would not lose their health coverage after an Obamacare repeal.

“I think there’s been a lot of talk about individuals losing health coverage,” Price told the Senate Committee on Health, Education, Labor, and Pensions. “That is not our goal, nor is it our desire, nor is it our plan.”

Democrats have been gearing up for months to protect President Barack Obama’s landmark healthcare law. But as Republicans draw closer to gutting the Affordable Care Act, Price, if confirmed, will be instrumental in implementing the new changes in policy and working with lawmakers to craft a replacement package. Today, Price took heat from Democrats about what that new plan will look like. Without offering specifics, he said one thing is clear about the transition: Americans will not have the rug pulled out from under them.

“One of the important things that we need to convey to the American people is that nobody’s interested in pulling the rug out from under anybody,” Price said. “We believe that it’s absolutely imperative that individuals that have health coverage be able to keep health coverage and move, hopefully, to greater choices and opportunities for them to gain the kind of coverage that they want for themselves and for their families.”

Price, 62, spent more than 20 years as an orthopedic surgeon before coming to Congress in 2005. He wanted to enter the political arena in part to help make America’s healthcare system work better for more Americans, he told senators.

But Democrats accused him of using his position to take advantage of the stock market.

The Wall Street Journal reported last month that over the past four years, Price traded $300,000 worth of shares in health-related companies he potentially influenced through legislation in Congress. On Monday, CNN reported Price got a “stock tip” from another lawmaker, Rep. Chris Collins, R-N.Y., to buy discounted stock from an Australian company, Innate Immunotherapeutics.

Price denied the accusations. He acknowledged he heard about Innate Immunotherapeutics through Collins but said he paid the same amount as everyone else for his shares. Price added that his broker handles his stock portfolio and he is not privy to what shares he holds at any given time.

“I have no idea what stocks I held in the ’90s or 2000s or even now,” Price told the committee after questions about his portfolio. “All of these decisions, for all of us I suspect, are done through mutual funds and through pension plans.”

Republicans rushed to Price’s defense. Sen. Orrin Hatch, R-Utah, said what Price described is typical, noting other members of the committee have similar investments.

But Democrats continued to push the idea Price will have conflicts of interest if confirmed.

“Wink, wink, nod, nod, and we’re all just supposed to believe that?” Sen. Elizabeth Warren, D-Mass., said after Price said his broker handles his stock portfolio.

Warren also pressured Price to make commitments to back President-elect Donald Trump’s campaign promises not to cut funding to Medicare or Medicaid. Price refused to give her the answer she wanted and said money should not be the metric.

Sen. Rand Paul, R-Ky., attempted to diffuse the tension in the room by noting everyone wants the same thing: To give more Americans access to high-quality healthcare.

“To question your motives I think is insulting. To question whether you’re honest I think is insulting,” Paul said to Price after a round of Democratic questions.

Today’s event was a courtesy hearing for Price. The Georgia Republican will have to answer more questions from the Senate Finance Committee next week before he can take over the Health and Human Services Department and its $1.1 trillion budget.

Republicans have a 52-48 majority in the Senate, and so far no GOP member has announced plans to vote against Price. Sen. Lamar Alexander, R-Tenn., chairman of the Senate Committee on Health, Education, Labor, and Pensions, said today he expects Price will have his confirmation vote early next month.