Billionaire entrepreneur Mark Cuban is aiming for America's health insurance industry, warning that high deductibles are leaving millions of people effectively uninsured despite paying monthly premiums.
Cuban Says Rising Deductibles Leave Patients Effectively Uninsured
In a post on Monday on X, Cuban wrote, “The real health insurance scam is that they know as their deductibles go up, fewer people can afford to use their insurance. Which means they don't have insurance. Despite having to pay premiums.”
He argued that when deductibles climb beyond reach, patients often avoid using coverage altogether and might be better off paying out-of-pocket.
“It may sound counterintuitive, but if you can't afford your deductible, you MIGHT be better off not getting insurance,” Cuban wrote.
Direct-Pay Doctors And Cash Pricing Could Offer Cheaper Care
Cuban pointed to hospitals and physicians offering cash prices and financing plans, which he said are often lower than what insurers negotiate.
He encouraged patients to consider direct relationships with providers: “Now is the time to find a doctor who is willing to work with you directly and let you pay them directly. See what works for you.”
Mark Cuban's Push To Overhaul US Health Insurance
Cuban had long been a vocal critic of the U.S. insurance industry, arguing that rising deductibles and opaque pricing left patients, doctors and hospitals at a disadvantage.
In May, during a talk at Stanford University's Department of Medicine, he accused insurers of designing plans that kept premiums low while steadily raising out-of-pocket costs.
He said this pushed patients into high-deductible plans that benefited insurers but left providers carrying the financial and reputational risk when patients couldn't pay.
In June, Cuban had unveiled a sweeping proposal to overhaul the healthcare system. In social media, he suggested eliminating traditional premiums, allowing patients to choose cash-pay providers with upfront pricing, and capping annual medical expenses at $50,000.
Patients would contribute based on income, with repayments deducted from paychecks and forgiven after 15 years. He also proposed a flat family "re-insurance" fee and called for eliminating Pharmacy Benefit Managers, citing his Cost Plus Drugs venture as proof that transparent pricing could slash costs.
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