Oped: Here’s How 100 million Americans Are Getting Hit Hard By Their Healthcare Premiums

Every year, CEOs hear a lot of nonsense from their CFOs about why healthcare costs are going up by 5-15% or more. And guess what? The CFOs are just passing along the same nonsense they got from their HR and benefits teams.

Those HR and benefits teams are getting their info from the biggest commercial brokers in the country.

These brokers, who could challenge the system, often don’t because they make more money by sticking to the status quo. They get the same nonsense from the insurance carriers and pharmacy benefit managers (PBMs) and are happy to play along.

It’s like a drug for them.

Now, here’s where the real money comes in:

The carriers, PBMs, hospitals, and drug manufacturers want you to use the most expensive drugs and hospital services as often as possible. They set the prices for care each year behind closed doors, without any input from consumers, employers, or employees.

It’s not too different from how a government sets prices in a socialized system, right?

So, here’s the deal. This is the core of the problem.

Until CEOs and CFOs wake up and take the time to understand this industry, the scam will keep going, and things will just get worse. This mess affects their employees and shareholders.

The worst part? This has been happening since 1929.

This is how we’ve seen hospital costs skyrocket by 300% since 2000, with hospitals making up 70% of claims for employers.

The good news is, we’re starting to see a way out, and my team and I are dedicated to exposing all of this nonsense once and for all. We’re not afraid to do it.

Let’s go, America. Enough is enough. The median household income for a family of three is $83,000.

If this were a free market driven by consumers, no drug or hospital stay would cost more than $5,000 to $20,000.

Don’t believe me? Look at the prices for cosmetic and elective surgeries.

They’re direct to consumers, no middlemen involved. You pay cash.

And by the way, four of the top 30 elective procedures have dropped in price over the past 30 years. A free market is the solution.

Until then, you need to fight hard to reclaim the profits you’ve worked so hard for from brokers, carriers, PBMs, hospitals, drug manufacturers, and anyone else benefiting from your labor.

This money belongs to you.

Go take it back with the same determination that they used to take it from you.

For California Business Journal Disclaimers, go to https://calbizjournal.com/terms-conditions/.