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Second-Richest Member Bemoans Health Care Costs

Turns out Americans without employer-based health insurance might not be the only ones hit with higher insurance premiums.

Rep. Michael McCaul, Congress’ second-richest member, took to the House floor this week to criticize the Affordable Care Act. The Texas Republican, with an estimated net worth of at least $114 million, said he lost his health care plan and his premiums on the D.C. Health Exchange went up significantly, impacting his family.

As the health care law rolls out for members and staffers, McCaul — who has significant investments in health insurance companies such as United Health Group and Aetna, according to his financial disclosures — wanted all to know he felt the pinch, too.

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