Mark Cuban Calls for Legal Action Against Health Insurers Charging $5K Deductibles to $25K Earners
If you’ve ever opened a medical bill and wondered how a ten-minute visit costs more than your rent,
Mark Cuban
‘s right there with you
—only louder, bolder, and a lot less polite about it.
Cuban has amassed his fortune in technology and athletics, yet lately, he has turned his attention towards another troubled sector of American society: healthcare. During an
The April episode of the “How I Doctor” podcast
hosted by Dr.
Graham
Walker
He made it evident that his intention was not to delicately resolve the issue.
Cuban stated, “Insurance companies rank as the worst of the worst of the worst of the worst.” He added, “The design of these insurance plans ought to be considered criminal when examined closely.”
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He wasn’t easing into it; he was merely at the beginning.
Cuban, who co-founded
Cost Plus Drugs
in 2022
To address overpriced prescriptions, is now targeting what he views as the fundamental issue within the system: how health insurance places all the risk upon those providing the care—as well as those receiving it.
“If they create a high-deductible healthcare plan and offer it to someone earning an after-tax income of $25,000, with a deductible of $5,000, doctors will be in trouble,” he stated. “Regardless of whether the patient has nothing to their name and can barely afford basic necessities, medical professionals must still provide treatment.”
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Once the patient departs, the debt shifts to become the doctor’s issue as well. “From this point onward, you also have to figure out a method of repayment—if such an option exists,” she said.
Dr. Walker, co-founder of
Offcal
A platform designed to highlight wage disparities, decrease employee exhaustion, and combat red tape asked Cuban for his thoughts on what actions he would take if placed in charge. Cuban did not hesitate. The suggestions he offered spanned from practical solutions to radical measures.
- Offer free tuition for medical schools. According to Cuban, “$24 billion is insignificant,” but he added that it would significantly enhance the standard of healthcare.
- Increase physicians’ compensation. “When I’m undergoing a heart transplant, I’d like that damn surgeon to earn $10,000,” he stated. “This ensures they remain focused and aren’t preoccupied with the next procedure or minor injury case.”
- Eliminate previous authorizations. “These processes seem intended to frustrate physicians,” he stated. “However, if you stand to make an additional $400 million through delays, you’ll continue this practice.”
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But Cuban’s rage isn’t limited to insurance plans. He also went after hospitals that charge “facility fees” for things that make no sense and the “arbitrage” tactics used by private equity to squeeze doctors dry.
“In healthcare, that $4.9 trillion—wherever anybody can arbitrage whatever they can out of the system—that’s exactly what they are going to do,” he said.
What Cuban proposes? Return authority to doctors. Establish direct-care networks. Eliminate intermediaries. Construct a virtual hospital if necessary.
Simply stop feigning that the system functions correctly.
.
As he stated, “The entire discussion revolves around figuring out how we can enable doctors to play golf on Wednesdays just as they did before.”
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This article
Mark Cuban Criticizes Health Insurance Firms as ‘The Worst of the Worst’ — Claims It Should Be Illegal to Impose $5K Deductibles on Individuals Earning $25K
originally appeared on
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