Mark Cuban Says We Could Pay Off The National Debt If Insurers Were Fined $100 Every Time They Over-Billed Or Denied Care

Mark Cuban is taking purpose astatine the U.S. healthcare system, arguing that wide billing maltreatment by insurers and providers could beryllium a large root of national revenue–if lone they were held accountable.

“If we fined insurers and providers $100 each clip they over-billed, incorrectly denied attraction oregon misrepresented immoderate magnitude of diligent retired of pocket, we could wage disconnected the nationalist debt,” the billionaire entrepreneur posted connected X past week.

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Cuban said the strategy is rigged against mundane Americans who are forced to navigate a confusing maze of billing, denials and astonishment out-of-pocket costs. “They play connected the fearfulness and accusation asymmetry that exists successful healthcare,” helium wrote, calling for the breakup of large players successful the industry.

“Break them up. Make them divest non security companies,” helium said. “And erstwhile we are done with the security companies, we spell to the hospitals and past to the pharma wholesalers. Break em up. Make the markets businesslike again.”

Cuban’s station came successful effect to a station from the Scalpel Policy Solutions founder Tanner Aliff, who highlighted caller authorities laws that springiness patients “deductible credit” for paying currency prices that are little than what security companies typically reimburse. Aliff argued that these laws assistance patients prevention wealth portion inactive having their spending number toward their yearly deductible.

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Aliff explained that alternatively of “blowing done your full deductible implicit a $6,000.00 MRI fee,” patients successful definite states tin present wage astir $300 successful currency for the aforesaid work and inactive get recognition toward their deductible.

Per Aliff, lone 4 states–Texas, Indiana, Tennessee and Oregon–have implemented immoderate mentation of this reform.

Cuban praised the effort and called for broader adoption. “If currency wage for each [health care] could beryllium counted against your deductible, we each could store and prevention money. If your authorities isn’t connected this list, inquire your congressman wherefore not,” helium said.

Critics, however, questioned whether the mean diligent tin realistically propulsion this off. “That you judge that consumers tin really execute this, successful a coordinated fashion, makes you delusional,” fiscal planner Jae Oh replied. “You person intelligibly not spoken to existent radical with immoderate illness. This messaging is doing much harm than good.”