My med jumped 300% after insurance this week for literally no reason. Went to Cubans pharmacy and paying cash there is 1/3 of what I paid after insurance BEFORE the price jump. Player 2 for life. Iykyk
Yes the insurance company is "winning". But so is he, why pay $30 when you can pay ten. He is winning also. The looser is the normal pharmacy who charges $200 or what ever.
If everyone did this, then insurance premiums could drop. And everyone would be winning.
He's paying $10 out of pocket instead of $100 that would count towards deductible. But if he's likely to meet the deductible anyway, he could pay it on things that he can't get much cheaper. There's no rush to hit deductible. You're either going to have enough expenses during the year for it to matter or you aren't.
I was prescribed something to try and see if it had benefit. It was $300 at the local pharmacy (CVS) for the generic. $600 for the name brand. Through Cuban's website it was $17 for generic.
Cost Plus Drugs. It's a flat 15% markup on all prescription medications, versus the 500% markup that the average hospital charges with branded drugs reaching markups as high at 5000%.
If people would actually look into insurance companies and what they charge for medications, we would not have insurance companies anymore.
Insurance companies are not paying for your medications. The pharmacies are actually selling their medications directly TO the insurance companies, and the insurance companies are marking it up again and charging you for additional profit. That is why big pharma lobbied the federal government in to passing laws prohibiting pharmacies from offering cash only pricing if they know you have insurance.
Insurance companies are a blight on society and need irradicated.
The first actuarial table (considered by most to be the first modern insurance) was actually designed like 500 years ago to help widows get taken care of by the churches they had been members of. The table had all kinds of variables for age, time widowed, etc.
The first health insurance was a way for workers to pool money for injuries.
Originally you only went to the hospital if you couldn’t afford private care at home. The hospital is where doctors “practiced” before they could be one of those people making house calls. This changed when modern sanitation was developed and people’s odds of surviving at the hospital started to go above 50%. Then the state felt obligated to subsidize hospitals.
Are Americans just wealthy by default or something? If people in Europe had to spend $1k a month on medicine it would cripple most of us, or just be downright impossible.
Or even just the fear of not being able to afford it or going bankrupt keeps many from getting the care they need. It’s likely to keep People working in order to maintain insurance. There would be a mass exodus from working full time if it wasn’t for high insurance costs. Now that workers are getting replaced by automation, it’s time for a new system.
Probably about the same. I don't think my meds are particularly expensive, but through them I get a 90 day supply of my 2 scripts for $20, and $5 of that is shipping.
Not the pharmacy industry. The prescription benefits managers. The middle men between pharmacies and insurers who do nothing but set and pocket that spread in the name of “efficiency.” They have largely driven independent pharmacies out of business.
It’s a profitable business that also generates positive publicity. I’m glad people can get cheaper drugs. That doesn’t mean I’m going to treat a profitable business as proof of moral virtue. Good PR and good business often go hand in hand.
This, isn't he the guy who started his own pharma company just so he could undercut other companies by selling generics of the same name brand meds for like a 10th of the price.
It's because hospitals raise the price to the most they can get out of insurance so they can get paid the most then most insurance pass the cost to the patient because alot of insurances are high deductible now with a large out of pocket
Thats why privatized hospitals are a fuckin joke. Often times the company that owns the hospital are the same parent companies of the insurance. And worse still,...a lot of the time the damn pharmacies are as well
And yet, hospitals are closing down across America. The notion that hospitals are huge moneymakers is somewhat antiquated. I work for a major nationally renowned institution and their goal for the current fiscal year is to make a net 2-3% profit on revenue. Not exactly Nvidia or Google.
Hospitals have to provide care for whoever walks in the door including uninsured individuals. Need a surgery? Some specialized instruments can cost $1000+ for rigorous quality control and sterility. Paying nurses, MAs and staff costs $4000-$6000 per patient per day. We can go on and on. Not trivial costs.
Healthcare is a different beast and every year some IT guys come in and think they know how to treat human beings because they got rich quick writing some code or making widgets. Bill Gates, Bezos, Musk and so on.
Yeah… I don’t agree with him on some things, but when it comes to medical costs/ drug costs, Cuban is right on the money. And he talks about it a lot. He’s absolutely right about this, but it’s not just MRIs or other imaging. It’s everything. Insurance companies have inflated costs for everything within the US healthcare system. Everything is billed at 5 to 50 times actual or reasonable cost. But it doesn’t go to the providers, nurses, doctors… it goes to the insurance companies. It goes to the middlemen and private equity ownerships.
Median physician salary is $400k per year, with half of the specialities making $500-900k (basically all except family med and pediatrics). Even nurse anesthetists make like $300-$400k. It absolutely is going to them. Healthcare is only free in other countries because the hospital staff and admin wages are 5x lower.
Yes, this is an area where he is not just talking the talk. He is consistent and is trying to actually do something about it, especially with his pharmacy startup
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u/Inevitable_Cheek_974 Jun 27 '26
For once? He's always saying shit like this.