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Mark Cuban, the billionaire entrepreneur, expressed his concerns about the implementation of the Medicare for All Act advocated by Sen. Bernie Sanders (I-VT). Potential Issues With Universal Healthcare Plan Cuban’s post on X, late Sunday, highlighted several issues with the execution of the Act, while agreeing with its goals. He argued that the plan gives excessive power to the HHS Secretary, allows top providers to opt out and avoid Medicare rates, and unrealistically requires annual drug price renegotiations. Cuban also warned that eliminating most private insurance could allow providers to profit more through financing systems and credit checks. He questioned a confusing clause about hospitals contracting only in emergencies: “You say hospitals that opt out can only sign a contract if from Sec. 303(b)(1)(B) — "be entered into at a time when the individual is facing an emergency health care situation;” quoted Cuban from Bernie’s plan. According to the billionaire, “This makes no sense.” Cuban also noted that, unlike other nations with universal healthcare, Sanders' plan lacks cost-control mechanisms like gatekeeper doctors or patient premiums — which, he said, could make the program financially unsustainable. Cuban’s post was a response to Bernie Sanders’ sarcastic take on President Donald Trump's November 8, Truth Social statement, in which Trump slammed "big, bad" insurance companies for profiting from Obamacare subsidies. Sanders quipped that if Republicans truly wanted to curb private insurer power, they should support Medicare for All. See Also: $76 Million Worth of Shiba Inu Tokens Locked Into Derivatives Market Amid Rising Activity Cuban’s ‘Not Perfect’ Solution In another post, Cuban proposes an alternative plan as a solution, which he acknowledges is “not perfect.” The proposal suggests replacing Medicare for All with a system where the government guarantees all patients’ medical debt instead of directly paying for care. Taxpayers would effectively act as the insurer, covering costs based on income and ability to pay—while eliminating traditional health insurance except for optional supplemental plans. Cuban Calls For Caution On Universal Healthcare Cuban, who has previously acknowledged healthcare as a right, has been vocal about the challenges of implementing universal healthcare in the U.S. Previously, he argued that simply switching the U.S. to a universal system is not a plug-and-play solution, especially for a country built around expensive, modern medicine. Despite the potential benefits highlighted by a 2024 study published by Yale researchers, such as the $438 billion in savings and 335,000 lives that could be saved, Cuban’s concerns underscore the need for a carefully considered and well-structured plan to avoid potential pitfalls. READ NEXT: As Record 40-Day Shutdown Nears End, History Shows Stocks Rally 12 Months Later With S&P 500 Averaging 12.3% Gain Image via Shutterstock
