The billionaire Mark Cuban has regularly shown strong concern for the average wage earner, particularly in the area of health-care costs.
One topic that the "Shark Tank" star has routinely spoken out about is the cost of medications. While the topic is obviously connected to his company, CostPlus Drugs, Cuban created the firm to bridge the cost gap that makes so many people unable to afford the medications they desperately need.
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In a thread posted Sept. 28 on X, Cuban got into the topic while addressing a user comment that says "the costs of healthcare are out of control and the high deductibles make it difficult on the employees. So how can this be fixed?"
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Cuban cut to the chase, saying, "The first step is to make CEOs realize the rebates they are getting, are paid for by their employees. It's as if they think it's free money.
"It's not. If you are the CEO of a company that is getting rebates from your [pharmacy benefit manager], you have to understand that your employees are subsidizing those rebates through higher deductibles, co-pays and premiums. So that great deal you thought you got on health care is actually being paid for by taking money from your employees."
The first step is to make CEOs realize the rebates they are getting, are paid for by their employees. It’s as if they think it’s free money. It’s not.
— Mark Cuban (@mcuban) September 28, 2023
If you are the CEO of a company that is getting rebates from your PBM, you have to understand that your employees are… https://t.co/cRXell72Jt
When other commenters asked Cuban if he felt universal health care could solve the problem, he said no, explaining that the health-care system can be simplified if companies move away from rebates and consultants.
Not as the system operates today now.
— Mark Cuban (@mcuban) September 28, 2023
M4A would funnel taxpayer money into a broken system, corrupting it more.
The healthcare system can be simplified if big companies do their part to get away from rebates and consultants.
At which point we could begin to see a simpler,… https://t.co/CBYW6cDNdj
"There is a light at the end of the tunnel," Cuban concluded. "It can be done. But it starts with the major buyers of care, big companies, changing how they buy health care for their employees."
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