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Oscar Health’s CEO Mark Bertolini blamed high denial rates on employer-sponsored insurance during an appearance on CNBC.
While discussing whether Brian Thompson’s assassination may potentially change how the healthcare industry operates, Bertolini conceded Americans have a right to be angry then argued the best way forward are individualized plans.
“Probably the most important thing is healthcare has become very individualistic. I want it to be fit for me, and when my employer buys my healthcare coverage, they buy for the average,” Bertolini explained during his CNBC interview.
When asked if employees would then lose the benefit of having their employer argue with insurance companies on their behalf, Bertolini said this advantage doesn’t exist.
“The ability of your employer to negotiate against the large insurance company that has a much larger relationship with the provider community is very stinted now. It’s stunted.”
“The companies have no leverage now,” he added.
Individualized plans are also better for small businesses and the middle market, which make up a majority of the U.S. economy. While these smaller businesses are seeing double-digit rate increases, the individual market is trending at 3.5% annually.
Originally published by Latin Times
